At a time when the economy has some serious problems and unemployment is rapidly rising, what would be the desire of a complete airhead who absolutely has no clue about capitalism and what government policies and actions actually create jobs and prosperity for the majority of citizens?
Well of course his or her desire would be to raise taxes on the "rich". This brings to mind the famous lines in a pop song back a few decades ago... "tax the rich, feed the poor, till there are no rich no more". Yes they tried this type of thing in the great depression and it made things worse, not better.
So look for the unemployment rate to keep risin and the stock market to keep slidin...... we're in a hole and Obama is calling for a bigger shovel or better yet a backhoe to dig us in faster and deeper.
Before this is done we may be looking at deficits of 1.5 to 2 trillion dollars a year and at that rate something will have to give sometime. Either we will have massive inflation or the debt rating on the US government will be lowered or both. In any of these cases the impact on our standard of living will not be good.
http://www.msnbc.msn.com/id/29319055
J. Cogburn
The plans to tax the rich are bad enough, but to make things worse the threshold for deciding what constitutes "rich" seems to be flexible and declining.
Posted by: jobseeker | February 22, 2009 at 06:16 PM