Adding to what Atrios says here, Glenn Beck this morning was also ranting about how President Obama is going to Destroy All Wealth with his socialistic tax-raising ways. He also suggested that people are currently pulling out of the stock market because Obama is going to raise their taxes.
By the time this thing is over, they will have retroactively blamed the entire financial meltdown on the Obama administration.
(Speaking of Glenn Beck, turns out I know a guy who worked with him in the nineties … going to see if I can get him to talk about it with me …)