Day that unemployment rate rises to 9.1 percent and Obama administration is advocating $1 trillion in new taxes
Do the Democrats understand the importance of incentives? It would seem not if they are advocating a $1 trillion tax increase. This is at the same time that the Obama administration is saying that they are "trying to leverage the private sector and give incentives" for growth.
Of course, Austan Goolsbee was out there on all the Sunday morning talk shows saying that Obama was pro-business. Obama's "leverage" approach has been to use government money to get firms to do what he wants them to do.
Obama's message to job creators has been clear. Hire at your own risk. Higher taxes, more burdensome regulation and crony capitalism are here for some time to come.
Members of the historic class 87-member freshman class were unmoved by Geithner’s insistence that raising nearly $1 trillion in taxes was the answer to the problem; especially since Republicans have stated since the beginning of the heated battle that they would not vote for any debt limit extension if tax increases paid for the difference. . . .
Of course, Austan Goolsbee was out there on all the Sunday morning talk shows saying that Obama was pro-business. Obama's "leverage" approach has been to use government money to get firms to do what he wants them to do.
President Obama intends to employ a strategy going forward to revive America’s private sector and get companies spending again, Goolsbee said.
“This president will enact [policies] to leverage corporate money,” he said, noting that was the impetus behind the Obama administration’s regulatory reform effort.
Several economic experts appearing on Sunday morning shows said U.S. firms are sitting on large stocks of funds, but those corporations are reluctant to begin spending again due to worries about the fragility of the economy. . . .
Obama's message to job creators has been clear. Hire at your own risk. Higher taxes, more burdensome regulation and crony capitalism are here for some time to come.
posted by John Lott at 11:18 PM
3 Comments:
Higher taxes, and the cost of overbearing regulations are passed onto the consumer. When we have a situation where consumers can no longer afford products and services due to high costs, demand goes down and folks get laid off which leads to that vicious circle of economic decline caused by raising taxes to offset the reduced tax income because folks are no longer working and paying taxes.
I simply fail to comprehend why those fools in Washington cannot see the simplicity of the problem. Must it always be a function of blindness caused by not being able to see through the barrier of a non functional ideology? Ot is it that the Democratic Party has become so desperate for what they perceive (falsely) as power, and the need to obtain votes to remain in office...
Martin, its all about the ideology and re-election sound bites for next year. This administration will drive the economic plane straight into the ground.
They can't acknowledge they were and are wrong about the ability of government spending to reverse economic stagnation. To do so would put their entire belief system in the trash. They are "all in", gambling that the so called Green Jobs will appear and magically transform the US economy. I'm afraid of how bad they will let it get in a year and a half; the repercussions will last for decades as we almost long for the Jimmy Carter years.
Greed and personal gain have obviously destroyed all Memory of the fine example of George Washington's leadership of our Country.
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