Obama wants to raise taxes on “the rich” at the top of the pay scale (small business), increase the capital gains tax, increase death taxes, increase social security taxes. These are all increases on the most productive citizens and small businesses that pay all the bills around here thus slowing any expansion, resurgence of the economy.
The democrats are managing to shirk blame for anything having to do with Wall Street because a republican sits in the White House. How else to explain St. Barack spiking to a 52% to 43% edge by likely voters in the latest ABC News/Washington Post poll? Here.
Maybe it’s because those likely voters are hoping to cash in on the Obama plan? Here.
I doubt that’s the reason. He’s just better at getting his message out there. It doesn’t hurt when the New York Times, the news outlet that sets the tempo for all other news casts, stories, packages etc., is in love with Obama. If Obama wins and my most productive earning years are saddled with even more taxes, will the NYT give me a bailout?
The one hope I’ve had regarding the investment bank mess is that Americans will see how nasty it can be when government takes over more of our lives and a sector of the economy. How when we have to bail out others for their dumb mistakes it hurts all of us. Obama’s plan puts in a place a permanent bail out plan.