Fox Nation: Watch the Hands!

Original quote from President Obama:

I’m rooting for everybody to get rich. But I believe that we can’t ask everybody to sacrifice and then tell the wealthiest among us, well, you can just relax and go count your money, and don’t worry about it. We’re not going to ask anything of you.

Noble and uncontroversial. But the Fox News version?

“Obama: We Can’t Let the Rich ‘Relax and Count Their Money.”

Suddenly class warfare!

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11 comments

  1. It wasn’t just Fox news. Everyone is running with this. He screwed up. There have already been a few pieces out there discussing how he has a lot of repair work to do on his relationship with big donors (the guys he needs to fund his 2012 campaign). This doesn’t help.

  2. He screwed up by making a statement that can be taken out of context.

  3. Here’s the follow-up question I would ask of the President:

    “Mr. President, based on your personal wealth most Americans would consider you ‘rich’ also. Since acquiring that wealth have you found yourself realaxing and counting your money very often?”

  4. That’s one of the dumber questions I’ve ever heard. I get that you’re trying to get across, “rich people work hard too,” but that’s not what he was getting at.

  5. In fact that is EXACTLY what he was trying to say. I know he doesn’t actually believe it himself but in the interest of anti-rich populism aimed at gathering support for tax hikes, he needs to promote the Scrooge McDuck image of the rich.

    1. Of course, taxing the rich is also not going to solve our financial woes but hey, it sounds good on paper!

    2. Actually that’s… not so. Played with any of the little “you solve the budget crisis” toys? Well, returning to Clinton-era taxes goes a long way to doing that.

      1. I have played with several. They are fun. And easy, provided they give you the right options to choose from.

      2. I agree – let’s go back to the Clinton era taxes. From Megan McArdle:

        “First of all, while it is technically true that the federal tax take was “around 20% of GDP” during the Clinton era, this was only true at the height of the stock market bubble. Tax revenues exceeded 20% of GDP for exactly one year: 2000. The average tax take under Clinton was 19%. And if you exclude 1999 and 2000, the very height of the bubble, it was more like 18.5%.

        …Saying “all we have to do is go back to the tax rates under Clinton” is effectively saying “all we need is another asset price bubble that funnels a huge amount of money into the pockets of the rich”. This seems neither particularly feasible, nor desirable.”

      3. I don’t like the New York Times toy has dated info (although it’s one of the most recent I’ve found) and I don’t think it gives you enough options on what spending to cut and what taxes to raise, but here’s my preferred approach using that toy:Note I do agree with two Clinton-era taxes.

  6. david boudreau · ·

    Suddenly class warfare? Nothing sudden about it, Class warfare is alive n well for decades now.

    bye the bye …. Taxing the rich DOES look good on paper! The way it is now the middle class, poor and some seniors already have a bloody noise and the way were going the right wants an ARM & LEG!

    The next thing yer gonna tell me is “business creates jobs!

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