Thread: Socialist Obama's War On Entrepreneurs, Businesses, Investor

USA: Socialist President Obama Declares War on Investors, Entrepreneurs, Businesses, And More
Date Posted: Saturday 28-Feb-2009

[This is great. Now the stupid ones in America who voted for Obama are starting to see that the FAR LEFT isn't as great as you were led to believe. (Well, it never is!!). I never even IMAGINED at any point in my life that I'd see investors and businesses fleeing from America, but as I view the Obama presidency, I think the unthinkable is possible.

The journalist below would do good to read my book, Government by Deception. In there I describe the old Communist/Marxist/Far Left tactic of saying one thing, and pretending that you're solving problem A, when in fact, your real moves are aimed at creating problem B. The rhetoric then has a strange disjoint between what is said and what actually happens. The ANC has been doing that in South Africa for years. Americans can learn the game from us. You people think you know what a liar is, but I assure you, the ANC takes it to a whole new level. And it appears to me, Obama is on that level too. Sometimes people need to learn good and hard. I hope Obama is only a one term president! Jan]

Let me be very clear on the economics of President Obama’s State of the Union speech and his budget.

He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.

That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all — either for this recession or from the standpoint of expanding our economy’s long-run potential to grow.

Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obama’s left-wing social vision, and a repudiation of his economic-recovery statements. Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years.

This is nearly double the government-spending low-point reached during the late 1990s by the Gingrich Congress and the Clinton administration. While not quite as high as spending levels in Western Europe, we regrettably will be gaining on this statist-planning approach.

Study after study over the past several decades has shown how countries that spend more produce less, while nations that tax less produce more. Obama is doing it wrong on both counts.

And as far as middle-class tax cuts are concerned, Obama’s cap-and-trade program will be a huge across-the-board tax increase on blue-collar workers, including unionized workers. Industrial production is plunging, but new carbon taxes will prevent production from ever recovering. While the country wants more fuel and power, cap-and-trade will deliver less.

The tax hikes will generate lower growth and fewer revenues. Yes, the economy will recover. But Obama’s rosy scenario of 4 percent recovery growth in the out years of his budget is not likely to occur. The combination of easy money from the Fed and below-potential economic growth is a prescription for stagflation. That’s one of the messages of the falling stock market.

Essentially, the Obama economic policies represent a major Democratic party relapse into Great Society social spending and taxing. It is a return to the LBJ/Nixon era, and a move away from the Reagan/Clinton period. House Republicans, fortunately, are 90 days sober, as they are putting up a valiant fight to stop the big-government onslaught and move the GOP back to first principles.

Noteworthy up here on Wall Street, a great many Obama supporters — especially hedge-fund types who voted for “changeâ€

I wonder why Obama and his Communist gang don't "spread their wealth" derived from the tax dollars they stole from us, in our direction?

If we are to "spread our weath" for things we don't want and people that don't deserve it, why should we stive to be sucessful monetarily?

Personally, I know many business people that are leaving this country because they see the writing on the wall.

Every person that I know who is wealthy (having or making more than $250 thou per year) is looking for an off-shore bank to put their cash into. They have bought large tracs of land and nice homes in foreign countries to avoid paying certain US taxes. They understand greed and corruption, they 'choose' that which allows them to buy their freedom and independence. Considering their age, I think they'll do allright.