Posted on 02/28/2009 9:11:23 AM PST by EagleUSA
Let me be very clear on the economics of President Obama’s State of the Union speech and his budget.
He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.
That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all — either for this 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 social vision, and a repudiation of his economic-recovery statements. Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years.
This is nearly double the government-spending low-point reached during the late 1990s by the Gingrich Congress and the Clinton administration. While not quite as high as spending levels in Western Europe, we regrettably will be gaining on this statist-planning approach.
(Excerpt) Read more at cnbc.com ...
I read yesterday that some people are pushing Larry Kudlow to run for Senate against Chris Dodd. There's a campaign I could get excited about!
What we have here is a very stupid man, totally devoid of any economic knowledge, and he is surrounded by an inferior collection of second and third-rate lawyers and political campaign staff people who just don't know how stupid they are.
It's like everybody in the Obama regime is like Leahy or Durbin.
I don't give this guy 6 months until something serious gives way and he's out of office.
The Federal Govt may only take 30% of GDP, but if you add in what the states and cities take in..we are getting to 45%, not far different than Europe.
The share is going to accelerate as the private sector shrinks under the weight of new taxes and lower revenues.
In china they called it the cultural revolution, in cambodia the killing fields and in america, hope and change.
North Korea is about to test an ICBM.
Iran is racing to assembly a nuclear bomb and delivery system. I do not believe Netanyahu will allow this to happen. That means a war in the middle east in the next 18 months at most.
Russia is trying to cut off supplies to the Allies in Afghanistan.
Pakistan is capitulating to the taliban.
Is that enough?
I think you’ve hit it on the head. No nefarious plot here. He is stupid man, devoid of any economic knowledge, surrounded by second rate lawyers.
you forgot, in RUSSIA, it was called communism.
[Mr] T
THE MAN WHO SOLD THE WORLD
Then you have to go on to point out (to Rio Lindans everywhere) that means every one and every thing....no one has been left out of his attack! That is simple fact. I can't wait to hear it on CNN.
Some say he wants to make the USA like France. I think France is way to conservative for Obama. Cuba is more like it. No free markets, no free enterprise, one party government and dictator for life.
Some say he wants to make the USA like France. I think France is way to conservative for Obama. Cuba is more like it. No free markets, no free enterprise, one party government and dictator for life.
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I would agree, and don’t forget Venezuela.
Tax rates are “going to accelerate as the private sector shrinks under the weight of new taxes and lower revenues.” The crowding out of the private sector will bring on the Next Great Depression...only result possiblie in the scenario he’s offered. If Congress can’t see this, then that makes the Executive Branch and the Legislative Branch economic illiterates! We already know the Justice Branch are economic illiterates.(they’re lawyers, like Obama). Perhaps we Americans have failed to point out to our Federal Government that “The Economy is a place where people go to live and work”.
Can 50 Sovereign States declare Eminent Domain on DC and declare the Federal Government null and void?
In the past two days, I have heard from six U.S. citizens who are successful entrepreneurs. Two are packing it in and heading for parts unknown, one has decided to move his computer/internet business to Japan, another is headed to Taiwan and only two are staying in the U.S.
The four leaving employ about 4,000 people and those jobs are headed somewhere other than the U.S.
They have seen the hand-writing on the wall and are headed somewhere else along with their talents and capital.
They are not taking chances on further capital controls and higher taxes.
Larry Kudlow program is excellent, I recommend every one search it out and listen, 770 wabc radio.. Today a guest on his show mentioned something that stuck in my throat. Obama worked for a short time on wallstreet in a research firm. In his book he states” I FEEL LIKE I’VE BEEN DROPPED BEHIND ENEMY LINES”! This disgrace is the president of the strongest capitalist free country in the world and is now in a position to kill the American economy. THIS DESPICABLE PRESIDENT AND HIS ARMY OF MARXISTS ARE ENEMY #1 and the only way to check mate him and his criminal marxist gang is mass voting for conservatives in 2010 and them again in 2012. We must be dillegent, we must be focused. This is THE ENEMY WITHIN! Let us move forward with force patriots of capitolism! We can crush the opposition.
this is AT LEAST the sixth post.
No, he is out to destroy America!
Mix it with a little ROP and it does..
You mean, the guy is out to DESTROY the country? Did he not give that indication before the elections, and did not the majority in America want exactly that?
Ever since the sixties, America has been guided by a deathwish.
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