Thursday, March 26, 2009

Hiptics Predicts Trouble for Democrats

Less than 100 days into his first term as president, people are already asking if Obama might be just a one-termer. People - Democrats and Republicans alike - are upset with Obama for a list of reasons. ("where hip-hop meets politics") has an interesting take on this, written by Hiptics' top dog Chris Franco ("Cfro"): Things I learned Tuesday night from President Obama’s press conference: Obama and congressional Democrats are angry that greedy Wall Street executives took $165 million in bonuses that the president and congressional Democrats gave them. We have made them give it back, but they have to keep the trillion-dollar bailout. Apparently, our education system is worse than we thought. Neither the president nor Democrats in Congress actually read the bailout-bonus bill. Granted, the next presidential election is still a long way off, so Obama can coast a while longer. Hiptics reminds us that "Obama isn’t on the ballot next year, but Democrats in Congress are. You can make money betting they will lose more than 25 seats, but not as much money as by purchasing toxic assets with taxpayer dollars." Cfro forecasts doom and gloom, both for the Democrats and caused by Democrats: Next year, when this experiment in European-style socialism isn’t working, the Democrats up for re-election will panic and make the spending this year look like an appetizer. To appear responsible, they then will raise taxes on “upper-income taxpayers” to the stratosphere, paralyzing investment and the economy. In other words, Hiptics is hip to the reality of economics. You tax the wealthy business owners and they just pass the cost on to their less-than-wealthy customers. In other words, higher taxes is the evil side of trickle down economics. Just ask David Manning, who breaks it down in plain language in a video he presented recently. I like that a site such as Hiptics has combined excellent entertainment industry coverage with sharp political insights. They are presenting reasoned political insight to an audience that might otherwise ignore it. The entertainment stuff, while very well done, is almost like bait to lure young readers to their site, where they are then presented with other interesting things to read. For me, the political writing at Hiptics lured me in, and I've been exploring the world of hip-hop through them. That bait worked. I'm hooked. More from Obama's Stimulus Will Hurt More Than Help Elliot Wilson on the Role of Hip-Hop Magazines in the Internet Age Elliot Wilson Talks Republican Party’s Hip-Hop Makeover AIG Bonus Loophole Scandal: Chris Dodd Is Public Enemy #1 John Brown Addresses AIG Bonus Scandal More articles by Chris Franco/Cfro Chicago News Bench RSS Feed Cool Stuff...