Frightening… Once Again Obama Says We Tried Free Market “It Did Not Work”

And his dopey minions cheered when he said it.
Barack Obama told supporters yesterday in Florida that free market principles failed.

He also pushed his Buffet rule to redistribute wealth.

Real Clear Politics reported:

“If we would just convert these investments that we’re making through out government in education, research and healthcare. If we just turn those into tax cuts, especially for the wealthy, then somehow the economy is going to grow stronger. That’s the theory,” President Obama said about the right at a campaign event on the tax code in Boca Raton, Florida today.

Here is the news. We tried this for eight years before I took office. We tried it. It is not like we did not try it. At the beginning of the last decade, the wealthiest Americans got two huge tax cuts, in 2001 and 2003. Meanwhile, insurance companies, financial institutions, there were all allowed to write their own rules, find their way around the rules. We were told the same thing we’re being told now — this is going to lead to faster job growth, it’s going to lead to greater prosperity for everybody. Guess what? It didn’t,” he said an audience at Florida Atlantic University.

He’s really hoping you’re not paying attention.

As the chart below reveals – historically, when Americans were allowed to keep more of their money, the national deficit decreased, tax revenues increased and jobs were created. During the Obama years the exact opposite actions were taken resulting in devastating results.

(J. Hoft Chart)
Obama’s hoping is hoping you’re uninformed and stupid.

By the way… It’s not the first time he tried to persuade an audience that free markets and liberty did not work.

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  • Bill Mitchell

    We had 6 years of uninterrupted prosperity under Bush. Things only fell apart after the Dems took Congress. Why is it physically impossible for any Republican to ever say that? Why do we allow the left to demagogue this issue as if Bush’s entire 8 years were worse than the great depression?

    Bush’ numbers were as good or better than their big hero Bill Clinton but we NEVER say it.

    Worst of all, WHY THE HELL DOESN’T BUSH EVER SAY IT???!!! The #1 thing that has always annoyed me the most about Bush is his refusal to punch back and stand up for himself.

  • Multitude

    Welcome to Second Revolution. Lenin would be so proud of lil’ Barack.

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  • Taqiyyotomist

    Well, we know that Marxism works! Just ask Walter Duranty, he’ll tell ya!


    OT: From Wisconsin, via Bad Blue

  • Redwine

    The treasonous tyrant needs to be called out. Impeachment is imperative.
    Wake up the stupid GOP.
    Romney, will you say something?

    God help us!

  • jorgen

    We tried this for eight years before I took office.

    He, another “Bush did it!” defense. However, if Obama hadn’t been affirmative-action-educated, he would know that the free market existed even before Bush!

  • Sasja


    I don’t know if anyone tuned in to the Huckster yesterday…I’m not sure he is even on any station in my area. Be that as it may. Found this at American Spectator and got a big kick of it.

  • valerie

    Holy corruption, Batman!

    This is how the Obama administration awards contracts.

    These jokers want to turn us into Mexico. We don’t need to do this.

  • atticcellar

    The free market works.. It has for thousands of years.. What doesn’t work; fiat currency. Every fiat currency thorughout recorded history has failed. Ours shall be no differnt. They shall return to thier real value, the paper they are printed on. End the wars, End the FED.. Vote independent.. Vote Ron Paul..

  • Finncrisp

    This big, big lie that capitalism is the source of all misery is complete fantasy. Barry’s big Marxism and over regulation of everything and takeover of everything he can get under the boot of government is what is sinking the HMS America.

    This despot must be stopped. Obviously, Mr. Reid has no stomach for impeachment, let along passing a budget, or doing much of anything these days. We must vote and throw all these bums out we can this cycle, and repeat in 2014. We are almost out of time to act. Will you?

  • Michael

    I sincerely believe oBama when he says he’s not trying to “redistribute the wealth.”

    What he is doing is redistributing poverty and dependance.

  • Finncrisp

    Additionally, his dopey reasoning is not fact based, it is strictly an emotional argument because there are no facts to support his lie. The steno pool in the main stream media has been lobotomized, so they will not challenge anything that Barry says. So the lie will continue to be reported and reported and reported. We must resist and continue to share the truth with anyone who will listen.

    Dark days ahead if we don’t all do our part.

  • Chippy

    Free Markets don’t work when Communists get in the way!

  • Finncrisp

    So, was shutting down production in the gulf by the government free market, was denying permits for onshore exploration by the government free market, was awarding vast sums of money to failed green ventures by the government free market, was pulling approval for the gateway pipe line from Canada free market, was ObamaCare free market, was the end of coal fired power plant construction by the government free market, was shutting off the water in the San Joaquin valley free market?

    I guess I am having trouble thinking what free market idea that Barry even tried. Anybody?

  • valerie

    Regardless of what the President might say, or might wish, his policies have wiped out the wealth of our hard-working black families.

    This is a very different story from the policies during the Bush administration. We lost a million jobs as an aftereffect of the 9/11 attacks, and yet our economy still recovered, blacks along with everybody else.

  • donh

    I…I…I…I…I…Eye…I..Aye….I..I …tell you …. the golden Buffet rule ……All you can eat is A..A..A…A…A..A…free market offer…. not Ah Ah Ah Ah challenge….. and and and and free markets don’t work because too many people stuff their faces !

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  • valerie

    All you need to know about the magic Buffet Rule, in one graph:

    original graph from Ace of Spades HQ.

    Our present government: confirmed non-math majors and non-readers, one and all.

  • StrangernFiction

    Pure Evil

  • Indiana

    What a loser. Losing our perfect credit rating didn’t even phase him. In Obammy’s fairy tale world, you don’t even have to balance a check book. Historically….money just appeared in his pocket every time he needed it. He’s got the fiscal experience of an eight-year-old.

  • valerie

    #14 April 11, 2012 at 9:31 am
    Finncrisp commented:

    I’ll take a swing at it:

    BO’s idea of a free market is to freely give taxpayer money to people who will then contribute to his election campaign. The “free market” is the market for his “free money.”

  • JDubya

    “The share of OUR national income going to the top one percent…”

    This mindset concerns me. This is clearly an us versus them ideology. He is clearly sending a divisive message to his base.

    Now, how long before these minions begin their mob attacks on the rest of society.

  • Taqiyyotomist


    Well, I booted up my time machine, went back to 1992 or so, and used Altavista to stumble on this Web .8 Beta gem:

    Oh wait, that’s the NBP’s site TODAY.


    Protip — you can, with 98% accuracy, tell that a site is run by complete kooks and racists if it looks like it was designed in 1992.

    The folks who run that site say that they want to “educate” black people. What, to do quadratic equations and design structurally-sound skyscrapers and new technologies?

    No — just to hate. That’s “education” to the Black Ku Klux Klan. Teach them all the bad things that have been done to them by non-blacks, and teach them to hate all non-blacks, but especially white people and Jews.

    They want to “educate” our black citizens right back to the 2nd century.

  • StrangernFiction

    #7 Sasja

    This whole affair is just another reason to detest the GOPE.

  • valerie

    Republicans do have ideas about how to handle health insurance reform. It involves rule changes, more and perhaps smaller insurance entities, and the ability of individuals and groups to buy insurance across state lines.

    Uh, these suggestions might result in less control of the market by the Feds, and less ability of politicians to put the squeeze on large companies….

    H/T Directorblue

  • owl

    THANK YOU…..THANK YOU…..THANK YOU, Jim. You added what my favorite chart needed.

    #1 Yep. I am a strong Bush supporter. Before Bush, Reagan was my favorite president. They both had faults and made errors. Reagan was not any more conservative than Bush. I loved them both. Started watching the presidents in the 50’s and of course, Vietnam cemented the political junky. I do not know why he would not really punch back at AMERICANS like he would at enemies. I think he thought he was president of all Americans.

    The group I do not excuse was our ELECTED voices. Hid under their desks. There is a lot of them. Very few ever stood up. They sat in the midst of that rathole and kept their mouths shut because they thought that stink would not stick to them. Wrong. They are the ones that lost 2006. I get sick of listening to the slurs on Bush on the supposedly conservative threads, when Reagan was not the sainted pureblood they all rant about. You never hear about his little immigration mistake in the same tone. Never. He was not what I listen to constantly. And I love him to this day, warts and all.

    If the GOP can find any ad money for tv, they should run Jim’s chart over and over. Just the chart and some voice asking if anyone notices anything strange about this chart.

    Whoever was running Obama started running just his voice and a flag, without a face, as soon as the 2004 was over. It was the most effective brainwashing ad I had ever seen. Never heard anything like it.

  • Taqiyyotomist
  • Stacy

    “The share of OUR national income going to the top 1%..” ??? WHOSE income? Those words deeply disturb me!

  • aprilnovember811

    For 200+ years we managed to become the richest nation in the world, and it hasn’t worked? Take it to your home country of Africa Barry. We’re not uneducated third world people here.

    This guy gets uglier by the day. He should be arrested as the domestic terrorist he is. We’ve endured a three year terror attack. Three years of a domestic terrorist attacking our economic system, our freedoms, our faith, etc. This guy is not above the law. ARREST HIM. HE’S WORKING FOR AYERS, THE WEATHERMEN, AND MUSLIM BROTHERHOOD, ALONG WITH THAT NAZI COLLABORATOR, SOROS!

  • Patty

    “Obama’s hoping is hoping you’re uninformed and stupid.”

    You should have added, “AGAIN”

    He speaks to his audience and those who adore him. He is so dangerous and manipulative, it is frightening.

  • Militant Conservative

    Really NOTUS? How did America become the envy of the world via Capitalism in 230 short years? The rest of the world is coming around to capitalism and getting away from socialist policies. Example, Spain, Greece, Italy,
    Germany And the UK’s debt combined is less than America. Last time I looked these countries are insolvent and teetering on the brink of
    Going under.

    Obama is just a run of the mill anti American socialist.

  • Taqiyyotomist


    For commenter “Simon Said”, and others who think like Klansmen:

    Thomas Sowell’s review in American Spectator of The Bell Curve.

    He rips your ignorant, racist suppositions to tiny little shreds, and then lights the shreds on fire.

  • Patty


    Don’t do business with progressive appeasers

    Let’s stipulate: Activists on the left are free to exercise their rights of speech and assembly to boycott businesses whose politics they oppose. Conversely, activists on the right are free to exercise the power of their pocketbooks and refrain from supporting businesses that shun their values.

    So, what are you waiting for, conservatives? There are coordinated shakedowns taking place right now that involve some of America’s most prominent companies who’ve chosen to surrender to progressive bullying and race-card opportunism. Silence is complicity.

    left On Tuesday, McDonald’s told liberal magazine Mother Jones that the company had “decided to cut ties with ALEC, the corporate-backed group that drafts pro-free-market legislation for state lawmakers around the country.”

    Color of Change is ratcheting up pressure on ATT, one of ALEC’s corporate board members, to abandon the group or be forever branded as racists with blood on their hands.

    These campaigns are of a piece with the pressure campaigns against advertisers of conservative talk radio giant Rush Limbaugh. (Not coincidentally, many of the same groups are involved in both.) The Hush Rush mob has succeeded in finagling anti-free speech declarations from the likes of Arby’s restaurant chain and Walgreens drugstores — two companies that have never been sponsors of Limbaugh’s show, but which announced last week that they won’t advertise in his time slot on local station ad buys. Note: These are bit cancellations of an ad buy; there’s no loss of money. It’s pure, progressive gesture politics, astro-turfed by Soros-funded groups, to create the fake appearance of an anti-Rush advertising stampede — and ultimately, to chill conservative dissent.

    McDonald’s, Pepsi, Coca-Cola, Intuit, Kraft, Arby’s and Walgreens have shown their true colors: appeasement yellow. It’s time for conservatives to stand their ground and stop showing these corporate cowards their money.

    more @link

  • Obama only gives speeches in front of a bunch of young voters ,who have no idea about how capitalism works or what marxist. is …..Obama is pure marxist/commie believes that only government should own all assets………….government should have full control of everything from who gets to work to what foods you can eat,and who gets to drink water today.

  • Blacque Jacques Shellacque

    We had 6 years of uninterrupted prosperity under Bush. Things only fell apart after the Dems took Congress. Why is it physically impossible for any Republican to ever say that?

    They’re not called the “Stupid Party” for nothing, ya know…

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  • Patty

    The Real Tax Rate Conundrum

    Despite the eloquence of our taxer-in-chief, the facts, as noted by Professor Antony Davies in this clip, are that whether you raise or lower taxes at the highest-marginal or average tax rate, the share of the GDP pie that government gets to take out of our pockets remains stubbornly flat at around 17-18%. It seems growing the pie may be a more attractive approach than raising taxes but then how would that play in an election year with below trend growth and stagnant income.

  • Patty


    Planned Parenthood Sets Up 40 Days of Prayer for Abortion

  • Patty

    OT sorry last one

    Huckabee Show Opens With Staged Caller

  • Limousine Barry

    Let me be clear. We tried this for eight years! We forced 0bamacare through. We taxed, spent and borrowed… the Tax payers money! Guess what? The economy is in the toilet!

    Sure, I told my cronies that they would prosper. Huh, oh, can you adjust the teleprompter. Thank you. Where was I?

    Oh, I told the public that my Tax and Spend policies would lead to faster job growth. Guess what? It did not! Only my cronies got rich and its not like we didn’t try! My policies suck!

    My limousine is running and Barney Frank is in the back. We are off to another mucking fund raiser. Barney will have his butt in the air. Please make a donation. Good day.

  • Patty

    The Laffer Curve Shows that Tax Increases Are a Very Bad Idea – even if They Generate More Tax Revenue

    Unfortunately, some people misinterpret the insights of the Laffer Curve. Politicians, for instance, tend to either pretend it doesn’t exist, or they embrace it with excessive zeal and assume all tax cuts “pay for themselves.”

    Another problem is that people assume that tax rates should be set at the revenue-maximizing level. I explained back in 2010 that this was wrong. Policy makers should strive to set tax rates at the growth-maximizing level. But since a growth-generating tax is about as common as a unicorn, what this really means is that tax rates should be set to produce enough revenue to finance the growth-maximizing level of government – as illustrated by the Rahn Curve.

    That’s the theory of the Laffer Curve. What about the evidence? Where are the revenue-maximizing and growth-maximizing points on the Laffer Curve?

    Well, ask five economists and you’ll get nine answers. In part, this is because the answers vary depending on the type of tax, the country, and the time frame. In other words, there is more than one Laffer Curve.

  • Patty


    More on the site I just posted.

  • Jim, you need to adjust the label placements! Reagan Tax Cuts 1983. GOP Congress starting 94.


  • Patty

    But Obama is using his political campaign to divide the Rich from the poor and as we have seen he doesn’t discuss the truth. He is speaking to the stupid remember that.

    And the stupid will believe and follow his every word.

  • Patty


    The Buffett rule is really nothing more than a sneaky way for Mr. Obama to justify doubling the capital gains and dividend tax rate to 30% from 15% today. That’s the real spread-the-wealth target. The problem is that this is a tax on capital that is needed for firms to grow and hire more workers. Mr. Obama says he wants an investment-led recovery, not one led by consumption, but how will investment be spurred by doubling the tax on it?

    The only investment and hiring the Buffett rule is likely to spur will be outside the United States—in China, Germany, India, and other competitors with much more investment-friendly tax regimes. The Buffett rule would give the U.S. the fourth highest capital gains rate among OECD nations, according to a new study by Ernst & Young, to go along with what is now the highest corporate tax rate (a little under 40% for the combined federal and average state rate). That’s what happens when politicians pursue fairness over growth.


  • Larkin

    What it comes down to is this…dumb-ass Americans.

    Not saying that ALL Americans are such, but unfortunately for us, a VERY large percentage is.

    Couple that with a criminal lamestream media and a GOP full of cowardly morons, and long term prognosis is not good.

  • Patty

    If there are so many intellectuals in Obama’s world, why is it that none of these pinheads understand how our economy works.

  • Patty


    That is exactly what I do worry about, if things are hunky doorey for a majority of Obama’s voting block and the Unions have their way, we could be looking at another Obama 4.

    It is like Russian Roulette.

    Many of the voters who are needed are the Independents. Remember though, they are working and some aren’t happy but one thing could change their mind. Scary.

  • exceller

    a free market is what made America great and strong, not government as Obama claims.
    Our problem now is that we have moved away from a free market.

  • Taqiyyotomist


    They do.

    They are breaking it, on purpose, with great precision and accuracy, and have been doing so more efficiently since Fannie and Freddie. They understand the economy — they just have the opposite goals that you and I share. We would want to make our economy grow solvent, and get better, and bigger.

    They want to break it.

    Francis Fox Piven may be a pinhead, but she knows what she’s doing, very well.

    Pure evil, IMO. Maoist, Stalinist, Fascist and yes, even Hitlerian. These folks got a “little bit of everything” in their philosophies. Throw in some Paganism and Islam, and you got yourself a big old Evil Salad.

  • saveus

    commie scum

  • Taqiyyotomist

    And yes, I think that “Evil Salad” would be a great name for a conservative metal band.

  • owl

    #35 “They’re not called the “Stupid Party” for nothing, ya know”…

    If I had a dollar for every time I have heard an Elected Voice agree it was all Bush’s fault or nod their heads, etc, I would be one of those filthy rich Obama raves about. Then I read it in the comments from supposely conservatives that want to tag what they consider a nasty label. Yep, that label that is worst than DEM, the scary RINO. Yep. That bad label that makes them stomp their collective footsies and stay home instead of voting. Yeah, that’ll show those RINOs.

  • tarpon

    Tell me who the last successful Commie was …

  • Thomas

    Obama says he doesn’t need them, Gates doesn’t need them and Warren buffet doesn’t them, so here’s a clue: STOP Taking Them!

  • Interesting

    Note – Jim Hoft, PLEASE use this EXCELLENT GRAPHIC on your site which shows that:

    America’s Debt Is Greater than Entire Eurozone’s (and U.K.’s) Combined Debt
    Apr 10, 2012 • By DANIEL HALPER

  • bigL

    I wish Buffay would go back to Obamaha, I mean Omaha. He made a lot more money when we never ran across him. And our country would be much better off if he’d go back into seclusion

  • Bill Mitchell

    You watch Obama speak and suddenly it occurs to you:

    My God, THIS man is actually President of the United States. How could our people have been so foolish? Never since Bill Clinton looked into the cameras and said “I did not have sex with that woman”, has it ever been so incredibly obvious that someone was lying to us as when Obama made promise after empty promise during the campaign.

    Not to worry, along with Democrats nationwide, Obama is going to lose badly in November. It took a Carter to get a Reagan. Providence will not allow America to devolve into an Islamo/Marxist nation.

  • Blacque Jacques Shellacque

    Yep, that label that is worst than DEM, the scary RINO.

    There’s one label that’s even worse, that even establishment Republicans have a problem with. What is it?


  • Obama does not make gaffes which has to mean that his latest round of Marxist utterances, some of which are outlandish, can only mean that he is reaching out to the people he needs if he is going to win the next election.

    His core constituency is Marxist. It will in spite of facts to the contrary continue to believe that the Marxist approach to the economy—high taxation and in particular a graduated income tax—will lead to better times for all.

    But the facts say otherwise. So why doesn’t the Left change? Liberals do not deal in facts. They cannot hear Napoleon, “Nothing is quite as obstinate as a fact.”

    If Obama were a conservative he would talk about the accomplishments of the free market system, which in the last generation has lifted one forth of the world’s populations above the poverty level but that is a fact.

    I predict that Obama will never become a conservative. He will remain true to the legacy of his father.

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  • mg4us

    Was Obama We-weed Up again???

    Surely the brain dead “students” must be to believe this crap and venom that spews forth from this idiots mouth

  • mg4us

    By the way, ask the students HOW did the US become such a great country in 200 years? And the envy of the world. .

    why else do folks try to come here to live. .

    don’t see too many illegal aliens trying to get into Russia, China, Cuba, Iran or Egypt for that matter

  • YourMaster

    but 0bama extended bush tax cuts. *LMAO*
    if he wanted higher taxes he would of veto’d such when they came up
    btw… the free market has been working for 200 yrs
    the reason why it’s f*cked up now
    is all the government intrusion and regulations

    ….liberals don’t live in reality….

  • the only place the “buffet rule” is going to redistribute wealth to, is to the greedy politicans.

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