His unrealistic and restrictive plan for energy independence is limited to investing in a few, new sources of energy that are not ready to carry the load for our energy independence. His partial plan does not provide for the “all of the above” reliable sources of power and jobs that industry and citizens need now.
Obama wants to raise corporate taxes, inheritance taxes, and income taxes and social security payments for the top wage earners. No reputable economist suggests raising taxes when America needs economic growth. Punishing success limits capital investment. Obama voted to raise taxes 94 times and never introduced any legislation to lower anyone’s taxes. You want Obama’s “Hope”—I hope you enjoy your change in taxes and the economic malaise it’ll create!
News Corp. chairman and CEO Rupert Murdoch said during an interview with Fox Business Network: "I like Sen. Obama very much….but his policy of anti-globalization, protectionism, is going to...give us a lot of inflation, ,,,ruin our relationships with the rest of the world, …slow down the rest of the world, and…make people frightened to add to employment. You are going to find companies leaving this country…. (H)is policy is really very, very naive, old-fashioned, 1960s."
FDR reminded Americans, “The only thing to fear is fear itself.” Obama talks hope but sells doom and gloom for the middle class. He justifies change by suggesting that we’re stuck in Iraq and reframes our economic downturn as a recession or worse. Obama blames the Bush economic policy for our current problems, but it was that same Bush plan that helped America bounce back quickly from the 2000 to 2001 downturn. Investor’s Business Daily reported IRS data that shows that the average U.S. income had increased five straight years through 2006.
The Bush economic plan isn’t the problem. Abuses on Wall Street and in financial institutions had been growing. Bush, McCain and many Republicans called for stronger regulations in 2005. Democrats refused to go along with proposed Freddie and Fannie reforms and helped expand the sub-prime mortgage fiasco by encouraging unwise “affordable housing” mortgages. Who are the top two recipients of PAC and individual contributions from Fannie and Freddie—Chris Dodd and Barack Obama! You want Obama in charge of reform?
For all his talk on self-reliance, Obama treats citizens as victims incapable of rising to the challenges they face. Obama’s “hope” rests in what government can do for you, not on what you can do for yourself or our country. At a time we are struggling to pay for the entitlements we already have, Obama calls for substantial government subsidies for healthcare, college, foreclosure relief, and alternative energies. Milton Friedman said it well, “There are no free lunches.” We can’t afford an Obama presidency and more “free” entitlements!
The Democrats chose an intelligent, eloquent but untested newcomer as their standard bearer. Charles warned us of the nagging doubt months ago: “The oddity of the Democratic convention is that its central figure is the ultimate self-made man, a dazzling mysterious Gatsby. The palpable apprehension is that the anointed one is a stranger—a deeply engaging, elegant, brilliant stranger with whom the Democrats had a torrid affair. Having slowly woken up, they see the ring and wonder who exactly they married last night.” This seemingly neverending campaign cycle has provided Americans with a long engagement, but don’t make the mistake of giving him the ring on November 4th.