Students of oligarchical collectivism should not be surprised that despite his sophomoric “eat the rich” rhetoric, Barack Hussein Obama is losing support faster among the poor than among the champagne and caviar crowd that installed him in power:
In the week of June 20-26 — the most recent week published by Gallup — only 45 percent of Americans in the lowest income bracket reported by the polling company (those earning less than $2,000 per month) said they approved of the job Obama was doing as president.
Gallup publishes the president’s weekly approval numbers among Americans in four income brackets: those earning less than $2,000 per month, those earning between $2,000 and $4,999 per month, those earning between $5,000 and $7,499 and those earning more than $7,500.
In Gallup’s most recent survey, Obama had majority approval in none of these income brackets.
However, of the four, his approval was highest — 47 percent — in the richest bracket, those earning more than $7,500 per month.
The crony capitalist quasi-socialism Obama has implemented as a stepping stone toward eventual Soviet-style communism may “spread the wealth around” by seizing it from small businesses to be strategically redistributed by bureaucrats, but the primary effect is to ensure that those on top stay on top. The creative destruction of true capitalism means you have to deserve first place to hold it; once you stop giving costumers the best product for the money, they will go elsewhere. Freedom benefits the up and coming. Obamunism benefits decrepit dinosaurs who don’t need to compete because they can afford to buy politicians to break their competition’s legs.
The quintessential crony capitalist corporation, General Electric, has benefitted monumentally from the Obama Regime. In addition to receiving $140 billion in “bailout” loot and a market for heavily subsidized, largely useless windmills, GE pays no federal taxes. Its CEO Jeffrey Immelt and Obama have been in bed from the beginning.
As for the effect on the little people who are beginning to wake up to the massive con that is Hopey Change:
In March 2009, the unemployment rate in the United States was 8.6 percent. This month, it is 9.1 percent.
To which Obama replies, “Let them eat food stamps,” before heading off to yet another round of golf with his cronies.