Sunday, March 15, 2009

Facts about why Obamanomics has been inspired by French Socialists

When watching an extract of Fox News Hannity's show last Friday, I stumbled upon an interview of the republican conservative Newt Gingrich, former speaker of the US House of Representatives. Talking about Obama's first 100 hundred days in the oval office and his populist tendency, Gingrich stated that Obama's policies are influenced by French socialists close to the former French presidential candidate, Segolene Royal (referring to the page 11 of the obama's administration budget). Daniel Henninger from the Wall Street Journal confirms this theory by highlighting that Obama's rhetoric about taxing high income Americans is based on the studies from two French economists: Emmanuel Saez and Thomas Piketty.

The two pundits are well-known in the French and American liberal apparatus for their studies about income inequality throughout the second half of the 20st century and this consequently justify wealth redistribution from the wealthiest Americans to the medium/low income ones.
(Note that Alan Reynolds from the Cato Institute brilliantly demonstrates the flaws and inaccuracies of this theory)

I remember that during the inauguration ceremony of the 44th president of the United States, the French media making fun of Segolene Royal's statement about the influence that she presumably had on Obama's policies, but who contributed to her presidential campaign ? Thomas Piketty! Who is the man talking at a segolene's meeting on the video below? The same Thomas Piketty!

It is a sad day for America!

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