Obama's Foreclosure Fix Is a Disaster

Friday, 28 Oct 2011 03:24 PM

By Wayne Allyn Root

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Is an entire country being run based on "marble envy"? As a child I’m willing to bet that President Barack Obama felt shortchanged of his share of marbles. Unfortunately this made him obsessed with taking other kids’ marbles (or as he called it, "redistributing them").

I’ll bet he was good at it. So good that no kids were willing to play with him ever again. He became a lonely kid, dreaming of growing up to run the country, make all the rules, and take marbles away from everyone.

Unfortunately, people rarely change. The way you think as a kid is often the base of your philosophy and personality for the rest of your life. Because as an adult, Obama’s entire life has certainly been built around the idea of government stealing from successful people who worked hard and earned their money, to redistribute it to those who don’t.

First Obama tried to redistribute wealth before he was president, by leading the charge to force banks to make loans to lower-income Americans who could not afford to own homes (through the Community Reinvestment Act). Affirmative action for homes didn’t work out so well. That idea imploded the housing market, and led to the destruction of the entire U.S. economy.

Obama did not realize there is a difference between marbles and homes. Marbles are free to kids. Homes come with a mortgage, insurance, repairs, and property taxes. Just because you want something, or because it seems “fair” that everyone should have it, doesn’t mean everyone can afford it, or is responsible enough to pay for it month after month.

Then Obama was elected president — on the strength of his promise to give his voters all the marbles they wanted. Soon Obama was busy trying to recreate his childhood and wipe away all that pain and jealousy. He wanted to give everyone equal marbles. But to do that, he’d have to find a way to take the marbles away from those that earned them.

So Obama came up with new and creative ways to target, punish, and tax the rich, while at the same time handing out more goodies and treats than ever before to the poor, i.e., Obama voters.

He redistributed trillions of dollars through the largest stimulus program in U.S. history; the largest increase in food stamps in U.S. history (45 million Americans); the largest free healthcare program in U.S. history (Obamacare); and let's not forget welfare checks designed to look like "tax cuts" handed to people who never paid taxes.

Obama’s voters were swimming in marbles. His childhood dreams had come true. But there was a problem. Jobs were disappearing. The more marbles Obama tried to steal from the rich, the fewer jobs were available for everyone else, and the more people lost their homes. Funny how that works.

Obama was angry and confused. So he doubled down. More marbles would have to be stolen by government and redistributed. Since housing was at the center of America’s economic collapse under Obama, he turned his attention to the redistribution of housing.

But how do you redistribute housing? Obama’s lonely childhood made him very creative. He came up with endless ideas for redistribution of marbles. Part 1 of his housing redistribution plan is to rescue the Obama voters who can’t afford their homes.

So Obama proposes forcing banks who are broke because government encouraged them to give loans to lower-income people who weren't qualified to refinance those underwater mortgages without regard for whether this is economic suicide for the banks.

Obama will try any reckless scheme to keep lower-income Obama voters in their homes that they can't afford — at least until the election. This is affirmative action for mortgages.

Here is where Part 2 comes in. Obama isn’t happy just handing marbles to the poor. He’s also got to take them away from the rich. So he desperately plans and plots to eliminate or greatly reduce the mortgage tax deduction for wealthy homeowners — thereby ruining the values of their homes, forcing many of them into foreclosures or short sales, and destabilizing upscale neighborhoods across the USA.

No one interested in boosting the housing market could possibly suggest eliminating the mortgage deduction, could they? Well they could, but only if their obsession was to wipe out wealthy homeowners.

This is Obama's ultimate housing redistribution plan. Think of the beauty and brilliance of this plan. Government keeps people who can’t afford their homes in their homes without regard for the rule of law or contracts.

At the same time government raises taxes so high on wealthy people, and eliminates their legal mortgage deductions (that have been in place a lifetime), thereby forcing people who can afford their homes, and have responsibly paid their obligations, to lose their homes. Brilliant. Columbia professors Cloward & Pivens would be so proud.

The goal is simple. My hero Ronald Reagan wanted to dramatically cut taxes to starve the government and empower the individual.

Obama has the opposite goal — to starve his political opposition (business owners and high-income Americans) with dramatic tax increases and loss of deductions that damage them financially, thereby leaving them powerless to stop him from exploding the size of government.

This is the Obama plan. And it all started with a young boy’s marble envy.

Wayne Allyn Root is a former Libertarian vice presidential nominee. He now serves as Chairman of the Libertarian National Congressional Committee. He is the best-selling author of "The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold & Tax Cuts." His web site: www.ROOTforAmerica.com.





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