I am unconvinced that Americans – wanting to fell good about themselves and be optimistic and “hopeful” in 2008 – really thought this was the change they were voting for:
1) On people making more than $250,000.
* $338 billion – Bush tax cuts expire
* $179 billlion – eliminate itemized deduction
* $118 billion – capital gains tax hike
The business tax hikes are even worse. Obama will increase taxes on existing American oil production starting in 2011. Do we have massive amounts of alternative energy capacity ready to replace the energy production and usage that this will discourage? A growing economy has to have a reliable energy supply. Energy producers get hit on several fronts in this plan, and those costs will either result in lower energy production or increased cost to the consumers.
This is going to “create or save” millions of jobs? Hog-tying and hyper-regulating small businesses (a small business doing $250,000 a year is a VERY small business, not a fat-cat enterprise) will not create jobs. It will inspire businesses to close down.
Pssssssst: President Obama – revitalizing the economy and creating jobs; you’re doin’ it wrong!
Here’s what you actually mean to be doing, right?
…if you take about 400 Billion of spending out of that bill – just chuck it for now, and bring it up later, when we’re back on our feet – and then maybe spread 200 billion around to the taxpayers by way of payroll tax reductions, tax-holidays and temporary tax-relief programs, and spend some money on job-creation and vo-tech educational programs and ummm…oh, yeah, open ANWR and most of our coastal oil reserves up for drilling, reinstate the Bush executive order allowing drilling contracts in Utah and start investigating the feasibility of refining oil shale, you could actually create good-paying jobs, which will contribute to the tax-base.
Wassamatta, President Obama, you no like America? You no want her working, and dreaming, anymore?
Kudlow calls Obama’s strategy Obama Declares War on Investors, Entrepreneurs, Businesses, And More
Arghghgh. I need to go bake some Irish Soda Bread. Don’t have the head for anything else.
BizzyBlog says Welcome to the Punk Presidency
Glenn Reynolds is hearing from today’s tea-partiers across the nation. Lots of people out protesting in cold weather. But unless we learn how to get some professional agitators on board to help organize, I fear the protests will never impress…or get coverage.
The consequences for our economy of a President who refuses to recognize the limits of reality will be painful and difficult for all of us.
It’s a valid point: if she were a GOP First Lady, they’d be savaging her. Some of the comments are a bit over-the-top, offensive, and tasteless, so be warned.