There's no doubt about it: Getting rich in Barack Obama's America is tougher than ever. And with his plans for raising your taxes, staying rich is tougher still.
But that doesn't mean it can't be done. And as I see it, there are
two basic ways to go about it.
The first is what I call "The Easy, Sleazy Democrat Way to Wealth." All it takes is using political power -- your own, or someone else's -- to steer private money or (even better) taxpayer dollars into your own bank account. Here are just a few tried-and-true "Sleazy Democrat" techniques for doing just that:
Run a "Government-Sponsored Enterprise" (into the ground). Say you're a longtime party hack who knows nothing about running a business, like ex-Clintonite Franklin Raines. Get appointed as CEO of Fannie Mae, the "government-sponsored" mortgage giant, where the profits are privatized and the losses are covered by taxpayers. Take tens of millions in salary and bonuses (based on phony accounting) -- and then, when you've laid the groundwork for Fannie's bankruptcy and the subprime mortgage crisis, walk away with a "golden parachute" estimated at $240 million.
Force Taxpayers to Subsidize Your Business. First, pick something that makes no real-world, economic sense, like "biofuels" or "green technology." Then, get the government to mandate and/or subsidize its use -- and if possible, to tax and regulate your competition to death. It's important, however, to mask your intentions by posing as a public-spirited crusader -- like Al Gore, whose use of this technique has already built him a fortune of more than $100 million, and who could become a billionaire from the "carbon credit" racket if a cap-and-trade bill becomes law.
Benefit from Nepotism. Not a politician? No problem -- just be related to one! Whether you're the nephew of Rep. John Murtha (D-PA), getting lucrative defense contracts, or the son of Joe Biden, getting rich off Dad's name as a government lobbyist, or the wife of Barack Obama, getting a nearly 300% raise at her Chicago hospital job right after he was elected U.S. Senator and right before he requested a $1 million earmark for the hospital- just remember: in the world of political influence-peddling and back-scratching, it's always "family first."
The icing on the cake of "Easy, Sleazy Democrat" wealth-building strategies like these? You get to rail against "rich Republicans" and "greedy corporate fat cats" while congratulating yourself on being a selfless public servant.
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