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Oops. The messiah stumbled yesterday. Barack Obama's aura of inevitability took a hit, as he was defeated by Hillary Clinton in Ohio, Texas, and Rhode Island. Obama did win in Vermont (and two Vermont towns noted for their liberal politics voted to arrest Bush and Cheney. Coincidence ? It's doubtful).
Could it be that voters who aren't moonbats in Vermont (the vast majority of us) are finally taking a peek behind the Obama rhetoric to see what policy resides there ? I certainly hope so. In the course of 20 Democratic debates, the moderators didn't make Obama answer one serious economic question about the effects of his policies, and the voters say the economy is the biggest issue. What a complete and utter farce. Voters deserve to know what all that "change" would be, and what all their "hope" would bring about. In that vein, I'd like to expose a little more Obama policy to the sunlight.
I've already talked about Obama's many, many, many proposals for new federal government spending, and I've linked you to the Obama Spend-o-meter, which tracks the cost to the taxpayers (that's you and I, folks. In an Obama presidency, the giant sucking sound will be coming from your wallets, in contrast to the Bill Clinton presidency, where the giant sucking sound came from the Oval O...well, never mind).
So let's take a different tack, and look at how Obama intends to pay for all that new spending. Townhall.com has a video that spotlights five of Obama's tax increases. You can link to the video here. I have to point out that Obama is proposing MORE than five tax increases. Townhall's list doesn't even include the repeal of the Bush tax cuts for the more wealthy, which is a given, and other tax increases. Before I get into Obama's numerous tax increases, in fairness I have to point out where Obama has said he will cut taxes. Obama has promised a $1,000 tax cut for the middle class. He has also promised to give unspecified tax breaks to corporations that keep jobs in america ("unspecified" is why I don't believe this one for a second. I think it's a trick to make voters think Obama cares about business and jobs, when in fact his other proposals will destroy free enterprise, business, and jobs in america, as you will shortly see). Finally, Obama said he will keep the Bush tax cuts for the middle class intact.
Here are the five Obama tax increases from Townhall's video. Let's call them 'Obama's Fave Five':
1) Nearly double the capital gains tax, raising the rate from 15% to 29% (Amanda Carpenter misstated the numbers in her video), and also hunt down what he calls "tax evaders" in foreign countries. Obama calls this his "tax fairness plan".
2) Remove the Social Security tax cap, imposing a 12.4% payroll tax on those earning over $97,000 per year.
3) Implement "green" taxes. Start a carbon tax to pay for Obama's $210 billion proposal to create green jobs.
4) Implement "patriotic" taxes. Require employers to pay all employees a "living wage". Require all employees to receive a pension plan. Require employers to pay 60% of all employee health care premiums. Allow unions to organize WITHOUT elections. Increase U.S. workers relative to those outside the U.S.
5) Implement global taxes. Obama is the lead sponsor of the Global Poverty Act, which would commit $845 billion in additional U.S. foreign global aid by 2015, which would ask nations to ban small arms and light weapons, and which would ratify the Kyoto Protocol.
Wouldn't it be nice if the mainstream media could put their pointy little heads together and relate some of this information to the general public, and maybe, just maybe, discuss the effects of all this on our economy ? No, I guess that's too much to ask. Instead, they talk about darker vs. lighter shades of Obama pictures, Obama in a turban, and Obama "denouncing and repudiating" Louis Farrakan's amti-semitic remarks, all of which doesn't mean diddly squat compared to these five business and job nuking proposals that Obama wants to bring to reality in our country.
Each one of Obama's fave five taxes will increase the cost of doing business in the private sector. Each one expands government control over free enterprise. Each one is anti-business. Each one puts america at a competitive disadvantage in the world. That one about allowing unions without an election might as well be coming from Lenin, it's so unamerican. Ditto for doubling the capital gains tax. Capital gains money has ALREADY been taxed. It's also investment money, retirement money, and nest egg money. To tax it at high rate discourages investment and harms millions of people financially. If Barack Obama's actual goal was to kill the american economy, his fave five would be a very good start, especially in combination with his massive expansion of spending and entitlements. We already have one of the highest corporate tax rates in the world, appear to be going into a recession, and in places like Ohio, jobs have been lost. Add Obama's "cure" to the mix and it could be 1929 all over again. No thanks.
This stuff is Economics 101. You don't create new jobs by making it harder and more expensive for companies to do business. You don't expand business and jobs by taking away profits. You don't help the economy by reducing private sector investment. Obama's policies would strangle business. Then, I'm sure, the next dunderheaded liberal would come along and blame it all on the business sector some more, call them greedy, and ask for yet MORE government intervention in business to "fix" things, when what should be done is to make our businesses MORE competitive, not less. The real fix is the exact opposite of the liberal prescription. The real fix is low business taxes, less regulation, and liberty. This stuff is so obvious that anyone who ever took one college business class should understand it. Apparently, Barack Obama didn't take one. Heck, anyone who has ever balanced a checkbook should be able to understand it, or even anyone who can add and subtract, when you get right down to it.
Makes me wanna holler.