He is declaring war on investors,entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.That is the real meaning of his anti-growth tax-hike proposals, which make absolutely NO SENSE at all- either for the recession or from the standpoint of expanding our economy's long-run potential to grow.
Raising the marginal tax rate on successful earners, capital, dividends and all the private funds is a function of Obama's left-wing liberal social vision. Ditto for his sweeping government planning and spending program.
This is nearly double the government -spending low point reached during the late 1990's during the Clinton administration.Study after study over the past several decades has shown how countries that spend more produce less, while nations that tax less produce more. 'The Savior' is doing it wrong on both counts.
As far as middle-class tax cuts are concerned, Obama's cap-and-trade program will be a huge across-the-board tax increase on BLUE COLLAR workers, including unionized workers. Industrial production is plunging , but new taxes will prevent production from ever recovering.
The bottom line is that these tax hikes will generate lower growth and fewer revenues. Sure, the economy will eventually recover. But the combination of easy money from the Fed and below-potential economic growth is a prescription for INFLATION.
Obama supporters, especially hedge-fund types who voted for "CHANGE", are becoming disillusioned with the performances of 'The Messiah' and Treasury man Geithner. There is a growing sense of Buyer's remorse on Wall Street.
Well then, do conservatives dare say: We told you so?
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