Tonight we can expect more faulty economics from the president in his State-of-the-Campaign Address. He will apply zero-sum thinking into concocting weak reasons why the wealthy don't pay enough taxes. He will ignore the other contributions which those members of society make. He will no doubt wax poetic about the “Buffet-Rule” and how “unfair” it is that he supposedly pays taxes at a lower rate than his secretary (who will be in the audience to become the poster person for unfairness, greed, etc).
This analysis will ignore numerous facts, among them that investment income should be taxed a lower rate than regular income because A) it has already been taxed when it was earned as regular income, B) it can be lost if the investment vehicle fails or does poorly, C) lower taxes rates on investment ENCOURAGES further investment which we want, and D) the US corporate tax rates are already among the world's highest.
Some say the president is a Socialist. I don't believe this is true. He is willing to use Statist or socialist, or any other means/policies appropriate toward the realization of his real goal which is to weaken the US economy (in keeping with the dream he admits he got from his father to attack nations which he views as imperialist powers).
He will ignore the need for the Federal government to begin to spend within it's means, oblivious to the $5 Trillion+ in debt his administration has accrued in a little over three years.
He will in effect reverse his previously held position (although he won't say this aloud) that the Bush administration debt was unpatriotic and a bad thing...
He will, without mention, ignore the failures and indefensible actions his administration took such as the ill-fated and ill-advised Solyndra loan and the illogical refusal to complete the Keystone XL pipeline.
He will promote anew divisive class-warfare language and principles (again assuming the economic pie is zero-sum) while ignoring real job growth measures that would increase tax revenues and increase the size of the economic pie. He will stress redistribution and fairness instead of the promotion of real economic growth.
He will continue to vilify success and business while ignoring the untidy little statistic that financial contributions are much higher to democrats than to republicans.
His strategy relies for success on uncritical unthinking listeners and supporters and on an effective media program to cover him. I hope he fails. For if he does not, America will.