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Unlocking Obama's Economic Vision (Spoiler: It's Blurry)

coveyrise Wrote: Nov 16, 2012 8:02 AM
Another clever ruse by Obama. Have you noticed that Obama never mentions what he wants to cut from the Budget other than defense? That's because there isn't anything he wants to cut. He is also convincing the illinformed that raising taxes on those evil rich folks will only effect them and they can afford it anyway. Well the truth is quite different. Increasing taxes on the wealthy will remove more capital from the economy and cause more people to sit on what they have rather than risk it on Obamanomics. The result will be fewer jobs and shorter workweeks to avoid the Obamacare Penalty. This isn't about reducing the deficit. It's all about Obama's brand of Social Justice.
coveyrise Wrote: Nov 16, 2012 8:08 AM
Another Truth: The Bush Tax Cuts have resulted in a 26% increase in revenue to the Federal Treasury over the past 2 years even in a sluggish economy. Raising taxes and removing more capital from the economy will reverse that trend simply because there will be less money available in the private sector for investment. The Government cannot avoid being a parasite on the economy. It does not generate economic growth. It can only take from those who do, eat up 40% to 50% with bureaucratic overhead and spit out 50 cents on the dollar for projects better left to the private sector. This is why Obama's Green Energy Scams have not worked. The Market drives the economy not Government.
pablostcruz Wrote: Nov 16, 2012 1:07 PM
I would like to see your reference for the 26% increase in revenues and how it is directly related to the tax cuts.

Wednesday’s press conference marked the first occasion journalists have had to question the President directly – about anything – in eight months, and President Obama tipped his hat on his plans to confront the coming fiscal cliff with chastened House Republicans. In short, he will probably raise tax rates for the wealthy.

But thanks to an explosive and, as my colleague Donny Deutsch put it, testosterone-fueled defense of UN Ambassador Susan Rice, a lot of what the President also said about his plans to reduce the deficit went ignored. That’s a shame – they were quite illuminating.