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Barack Obama Will Hurt US Firms and the World Economy
UK Telegraph ^ | 12:01am GMT 03/11/2008 | Janet Daley

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 ...


TOPICS: Business/Economy; Extended News; Front Page News; News/Current Events; Politics/Elections; United Kingdom
KEYWORDS: 2008; 2008elections; colorado; economy; electionpresident; elections; joetheplumber; newmexico; nobama08; obama; ohio; palin; pennsylvania; taxes; virginia

1 posted on 11/02/2008 4:30:35 PM PST by lewisglad
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To: lewisglad

Barack Obama - a threat to the world ... this is more accurate


2 posted on 11/02/2008 4:32:08 PM PST by clamper1797 (BHO ... the 'H" stands for hubris)
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To: lewisglad

the scariest thing is that obama is the first president since Hoover to support protectionism. That could cause a major war.


3 posted on 11/02/2008 4:34:21 PM PST by ari-freedom (Paint your finger purple on Tuesday!)
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To: clamper1797

4 posted on 11/02/2008 4:35:19 PM PST by Diogenesis (Igitur qui desiderat pacem, praeparet bellum)
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To: lewisglad

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.


5 posted on 11/02/2008 4:35:39 PM PST by Wiseghy ("You want to break this army? Then break your word to it.")
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To: lewisglad
http://www.youtube.com/watch?v=-U9btB8FSPA

And...

http://patriotroom.com/?p=3739

6 posted on 11/02/2008 4:36:00 PM PST by PureSolace (Trust in God)
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To: lewisglad

THIS is why I believe the Markets have been so crazy lately....they FEAR an OBAMA Administration.


7 posted on 11/02/2008 4:36:41 PM PST by goodnesswins (Socialism is great until you run out of someone else's money (M. Thatcher))
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To: lewisglad

If Obama wins watch the stock market take a dive.


8 posted on 11/02/2008 4:37:11 PM PST by Vicki (Washington State where anyone can vote .... illegals, non-residents, dead people, dogs, felons)
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To: lewisglad

Why are all these articles coming out now? Where were they two weeks ago?


9 posted on 11/02/2008 4:37:54 PM PST by FlingWingFlyer (I'm voting for McCain/Palin so I can look my grandchildren in the eyes when I tell them I'm sorry.)
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To: lewisglad

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.


10 posted on 11/02/2008 4:39:23 PM PST by Brilliant
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To: FlingWingFlyer

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.


11 posted on 11/02/2008 4:40:36 PM PST by Brilliant
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To: FlingWingFlyer

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.


12 posted on 11/02/2008 4:41:09 PM PST by WaterBoard (Somewhere a Village is Missing it's Socialist.)
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To: ari-freedom
The irony.

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.

13 posted on 11/02/2008 4:41:53 PM PST by Red6 (Come and take it.)
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To: Brilliant

The Soviets couldn’t beat us on the battlefield so they found a way in through the back door; media, education, government, etc.


14 posted on 11/02/2008 4:42:31 PM PST by randomhero97 ("First you want to kill me, now you want to kiss me. Blow!" - Ash)
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To: Vicki

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.


15 posted on 11/02/2008 4:43:16 PM PST by Brilliant
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To: WaterBoard; All
Our socialists reporters are more to the left of the real socialists in Europe.


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?

16 posted on 11/02/2008 4:52:30 PM PST by az_gila (AZ - need less democrats)
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To: FlingWingFlyer

yes this is Nov 3, not March 11


17 posted on 11/02/2008 4:58:56 PM PST by ari-freedom (Paint your finger purple on Tuesday!)
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To: 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.

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.

18 posted on 11/02/2008 5:30:20 PM PST by fightinJAG (Click on the source link of stories that deserve "legs.")
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To: az_gila

Janet Daley is American tho’ a long time expat so she has a better perspective than most British writers on the US.


19 posted on 11/02/2008 5:52:14 PM PST by 1066AD
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To: 1066AD; All
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....:^)

http://www.telegraph.co.uk/news/newstopics/uselection2008/

20 posted on 11/02/2008 9:00:35 PM PST by az_gila (AZ - need less democrats)
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To: az_gila

Telegraph is under new ownership for the last year or so. It’s all over the place now.


21 posted on 11/02/2008 9:21:28 PM PST by 1066AD
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To: FlingWingFlyer

CYA time......big time.


22 posted on 11/03/2008 8:19:51 AM PST by TMA62 (TMA62)
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To: lewisglad

He just flipped the bird to McCain at a rally in Jacksonville. Saw it on Fox.
0bama mentioned McCain, the tough campaign he has waged, and then placed his middle finger to his lip.


23 posted on 11/03/2008 8:28:21 AM PST by 668 - Neighbor of the Beast (Whither America? Who is teaching the children?)
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To: 668 - Neighbor of the Beast
He just flipped the bird to McCain at a rally in Jacksonville. Saw it on Fox. 0bama mentioned McCain, the tough campaign he has waged, and then placed his middle finger to his lip.

What a juvenile ass.

24 posted on 11/03/2008 8:29:59 AM PST by TChris (So many useful idiots...)
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To: AdmSmith; Berosus; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; george76; ...

(Vanity) The Polls are (mostly) nonsense. Here’s why.
Self | 11/3/2008 | Self
Posted on 11/03/2008 7:38:36 AM PST by MaverickElephant
http://www.freerepublic.com/focus/f-news/2123538/posts


25 posted on 11/03/2008 8:52:36 AM PST by SunkenCiv (https://secure.freerepublic.com/donate/_______Profile finally updated Saturday, October 11, 2008 !!!)
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To: Running On Empty

marking


26 posted on 11/03/2008 9:31:13 AM PST by Running On Empty ((The three sorriest words:"It's too late"))
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To: 1066AD
Telegraph is under new ownership for the last year or so. It’s all over the place now.


Thank you - that explains a lot....

27 posted on 11/03/2008 9:12:47 PM PST by az_gila (AZ - need less democrats)
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