Skip to comments.Class Warfare: The Mortal Enemy Of Economic Growth And Jobs
Posted on 10/18/2012 6:35:26 AM PDT by SeekAndFind
Our economy is lousy, the labor force participation rate is the lowest in 31 years, weve had 43 consecutive months with unemployment over 8 percent, and a record 47 million people are on food stamps, so one might expect President Obama would welcome as much help as he could get. Surely he would want private sector job creators investors and entrepreneurs to have the strongest possible incentives for turning around this Obama recovery where household incomes are falling faster than they fell in the Bush recession.
But Obamas priority is class warfare. Thats why he relentlessly denounces job creators as millionaires and billionaires. Thats why he demands that they be punished with higher tax rates.
Recently New York Senator Charles Schumer, one of Obamas comrades, vowed that there would be no bipartisan budget deal without higher taxes on the rich.
What is it that drives class warriors? Fairness, of course, is the familiar battle cry, but according to the IRS the top 1 percent of taxpayers pay about 36 percent of federal income taxes. Before the financial meltdown when the rich were richer, the top 1 percent paid over 40 percent. By any standard, thats a lot especially considering that as we have heard, 47 percent of taxpayers dont pay any income tax.
We need to understand that class warfare is a mortal enemy of economic growth and jobs. At the very least, class warfare means progressive taxation higher tax rates on investors and entrepreneurs, eventually reaching confiscatory levels. In many places, class warfare has gone much farther with suffocating regulations, exchange controls, asset seizures, arbitrary imprisonment and other measures that suppress private property rights and throttle a market economy.
(Excerpt) Read more at forbes.com ...
It appears that Forbes is trying to slink back to the Right, or at least to the Middle, after its Left-leaning dalliances.
I’m still not renewing my subscription.
At first, I thought the man is an economic illiterate but then I read Sol Alinsky's Rules for Radicals that a liberal friend of mine gave me. He is following that book almost chapter and verse. He is out to destroy this system. Either that, or he's a Harvard idiot.
I also can't figure out how libs can be so stupid as to want a lower unemployment rate, but want to punish the very people who create jobs. In 45 years of working, I never once had a poor person give me a job. Can't those stupid people see that a rising tide lifts all boats? Idiots...all of them.
Face it. Obama is what he is. He was born into Marxism, trained in Marxism and fed on Marxisms all his life. Along with Chicago Style (Marxist based) politics he knows nothing else and would believe nothing else even if it was made abundantly evident to him.Class warfare is a principal tenet of Marx and of Obama.
You cannot be pro-jobs and anti-business at the same time. You cannot love employment and hate employers. Paul Tsongas - Democratic National Convention (1992)
Tsongas was’t a ‘Progressive’...
Ever since the Bush tax cuts of 2003 Democrats have had a bone in their throat called “tax cuts for the rich”. They have croaked about this for the past 9 years. So, why didn’t the congress end these tax cuts for the rich in 2009/2010 when they had absolute majorities thereby separating these cuts from cuts for every one else? They could have ended these cuts with a one sentence bill! The Democrats wanted to keep “tax cuts for the rich” as a class warfare issue. They really want all of the Bush tax cuts to expire so they can blame Republicans for not giving in on “tax cuts for the rich”.