Skip to comments.Barack Obama Will Hurt US Firms and the World Economy
Posted on 11/02/2008 4:30:34 PM PST by lewisglad
So, in one of those bizarre jokes that history sometimes plays, the United States is apparently about to choose as president the most inexperienced, untried and virtually unknowable candidate who has ever run for that office at a time of unquantifiable international risk and unprecedented economic instability: a candidate who, as Bill Clinton revealed in a wonderfully back-handed "tribute", responded to the banking collapse by ringing every expert he could find (including Bill) to ask them what he should be saying.
Barack Obama - a threat to the world economy?
But there is another facet of Obama taxation with even more serious consequences for the US. In order to pay for his tax cut for 95 per cent of the population (half of whom do not pay income tax and whose "cut" would be in the form of a cash rebate), President Obama and his Democratic Congress would raise the US rate of corporation tax - already the second highest in the world - from 15 to 20 per cent. They also plan to punish through taxation companies that employ people overseas rather than "creating American jobs". These measures would have the almost immediate effect of driving companies and capital out of the US.
In the same "help the little guy" spirit, Obama proposes to raise capital gains tax, thus penalising those whose investment is desperately needed for market recovery. As my economist friends always tell me when I advocate tax cuts for the low-paid: it may seem a morally and politically attractive policy but it doesn't do a damn thing for economic growth. The tiny amounts that the lower-paid receive in such wide-ranging cuts make little difference as a stimulus and if they are balanced by penalties on business and on the investing classes, they are worse than useless.
(Excerpt) Read more at telegraph.co.uk ...
Barack Obama - a threat to the world ... this is more accurate
the scariest thing is that obama is the first president since Hoover to support protectionism. That could cause a major war.
Financial experts and the markets know this. Obama tax policies will result in a 10 year+ recession.
Pity that we must read the UK press to get a perspective on it here in the US.
THIS is why I believe the Markets have been so crazy lately....they FEAR an OBAMA Administration.
If Obama wins watch the stock market take a dive.
Why are all these articles coming out now? Where were they two weeks ago?
It’s ironic that we spent 50 years fighting the Soviet Union in a Cold War to prevent communists from taking over our country, and now, even after having won that war, we are going to elect one of them as our President.
It’s your typical liberal media strategy. Once it becomes clear that the Dem is going to win, they run a bunch of articles criticizing the Dem so that they can claim they weren’t in the tank for him.
You did notice that the only newspapers reporting about Obama’s family immigration fraud, federal election donation fraud, and finally on Obama’s lack of qualifications for office are all foreign press.
Our socialists reporters are more to the left of the real socialists in Europe.
The man of the world, the man of multilateralism and globalism where the concept of sovereign nations take a second seat thinks in terms of protectionism when it comes to trade.
The Soviets couldn’t beat us on the battlefield so they found a way in through the back door; media, education, government, etc.
The stock market is not going to dive... At least not immediately. On Wed. morning the Dow will have healthy gains no matter who wins. In fact, the European markets may shoot up a lot if Obama wins, and that may give added float to the US market.
The market will not tank until the harsh reality of an Obama Presidency begins to sink in.
Nah.... I've been tracking the Telegraph on-line US Election news (my father thinks it's conservative...:^) while talking to family in England.
This is a major shift... the stories they were reporting the last few weeks were way pro-O - mostly negative Mc/Palin stories made it to their on-line list.
Perhaps it's a last attempt at appearing balanced?
yes this is Nov 3, not March 11
The other aspect of this bizarre joke is that the rest of the world thinks the U.S. SHOULD elect Obama.
They will be the first to whine when the engine of the global economy, the United States, sputters.
Janet Daley is American tho’ a long time expat so she has a better perspective than most British writers on the US.
...maybe, but her perspective is not picked up by whoever is picking US Election stories for their web site.
Find a pro-McCain story here....:^)
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