President Obama and Statistical Imbalances

Assume for the moment that President Obama's now oft-cited, but deeply disingenuous claim that "We've got 2 percent of the world oil reserves. We use 20 percent, is accurate." Assume as well that his expressed incredulity at this disparity is real.  Wouldn't it then follow -- if the President is indeed the complex thinker and cool, dispassionate analyst that his supporters constantly insist that he is -- that he would take similar umbrage against all such imbalances between the production and allocation of valuable resources? Yet when it comes to taxes, as we have learned, Obama is unmoved by such facts as that the much-maligned top 1% of income producers pay nearly 37% of total income taxes his administration collects, that nearly 50% of Americans pay no income tax whatsoever, and that more than 60% of Americans receive more in government benefits than they pay in all taxes combined. Far from being offended by these structural inequalities, the President insists that "the rich"...(Read Full Post)