Call for the straightjacket, SiriuslyWrong has gone bonkers. Hate will do it to you everytime.
Remember this is the guy who believes in Peter Schiff. Yes, that Peter Schiff. The guy who
has gotten almost every one of his predictions wrong for years. He said we would experience
hyperinflation in 2011 (not inflation, hyperinflation. lol). He predicted las year that the Dow will
drop to 1,400 or that gold will rise to $12,000 within the next 2 years.
If you believe in a guy that makes crazy economic predictions no wonder you believe a guy
like Peter Ferrara who calls President Obama a Marxist. Cuckoo for cocoa puffs.
The Absurdity of Calling Obama a Marxist
ALEX KNAPP · MONDAY, SEPTEMBER 19, 2011
“It is not very unreasonable that the rich should contribute to the public expence, not only in proportion to their revenue, but something more than in that proportion.”
The above quote is from notorious hardcore lefty Adam Smith, in his famous socialist tract On the Wealth of Nations, where he proposes a progressive taxation, that the government should protect workers from the predations of their employers, and that a government that serves only the interests of the wealthy will suffer economic collapse.
The point is, I’ve noticed a lot of people flinging the word Marxist at President Obama after his speech today proposing higher taxes on the wealthy. Those people need to be hit over the head with a copy of Das Kapital until some of it sinks in through osmosis.
Obama’s proposals are well within the republican tradition, well within the classical liberal tradition, and well within the free-market tradition. You might question the wisdom of particular aspects of his policies given current economic conditions. Or argue that it doesn’t make a lot of sense to raise taxes now when we can borrow cheaply.
But calling the President a Marxist only exposes the speaker’s ignorance of Marxism, the history of capitalist countries, and President Obama.