President Obama gave his third State of the Union speech Tuesday, which was nothing more than a thinly veiled campaign speech.
The president began by reminding us that Osama bin Laden was killed under his watch.
When bin Laden was killed in a military raid, Obama took most of the credit in his speech. This turned out to be untrue, as reported on Yahoo! and many other media outlets. Like many of Obama's "triumphs," his involvement was greatly exaggerated.
This lead into his usual collectivism clap-trap.
"They're not consumed with personal ambition," Obama read aloud from teleprompters. " They work together."
Obama also touted job growth, when the truth is that they are counting less people in order to keep the unemployment percentage artificially low, as also reported on Yahoo!.
Obama stated, "Today, for the first time in 15 years, Master Lock's unionized plant in Milwaukee is running at full capacity." This, no doubt, is due to the ridiculously high number of foreclosures. The banks padlock the doors on these houses upon eviction.
Regarding foreclosures, Obama condemned banks for doing what Democrats mandated that they do. Through the Community Reinvestment Acts passed under the Carter and Clinton Administrations and strong-arming by the likes of Barney Frank, advocating on behalf of Fannie Mae and Freddie Mac. Forbes Magazine wrote an excellent article exposing the truth behind the "housing bubble."
During the speech, Obama calls for reduced spending and tax cuts, then advocates for raising taxes and much more spending.
Obama calls for doubling capital gains taxes, which will be detrimental.
This, in turn, will hurt the middle class Obama pretends to care about. Those with retirement funds such as 401k's and 457 plans, based on stock investments, would also be subject to higher tax rates which would significantly cut into their retirement funding.
Additionally, doubling the capital gains tax would deter investment in up-and-coming businesses which create jobs. Established corporations also use investment funding for projects which allow for job retention. A reduction in investors would also negatively affect the retirement plans of the middle class by significantly decreasing their value.
The millionaires and billionaires Obama is trying to make us all hate, through farcical concepts such as the "Buffet Rule," can afford to pull all of their investments and live off of what they own if it gets to that point, causing the market to crash.
Some of the spending Obama called for is increased government "investments" in green energy companies, like Solyndra, and the creation of yet more bureaucracies. He announced the creation of the Trade Enforcement Unit " that will be charged with investigating unfair trading practices in countries like China." Another new bureaucracy he announced is the Financial Crimes Unit, aimed at investigating the banks for doing what the government made them do.
The most hypocritical part of Obama's speech was his call for increased domestic energy production and American jobs after he killed the Keystone XL pipeline project which would have created tens of thousands of jobs.
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