Obama Flunks Economics 101

This might just be a distraction, but let’s go ahead anyway,….

Obama’s promise of a tax break to 95% of Americans is preplexing when only 70% of Americans pay taxes.  Perhaps this relates to Obama not specifying what sort of tax cut he has in mind.  Taking Obama’s 95% means that 5% of Americans will be funding his promise of a trillion dollars in entitlement.  Given that the trillions we have spent on the recent bail-outs, its hard to understand how Obama could fund his new entitlements even if he taxed all Americans at 100%!  It is also difficult to fathom how the top 5% can continue to provide goods, services and jobs to the economy when they are the ones that will penalized.  Pehaps Obama’s goal is to replace the capitalist system because his tax increases stand to do noting but increase costs, reduce incentives and produce inflation.

On top of that, Obama’s taxes will help one American industry: government.  Of course, that is not a very efficient industry /when you take into account the public school, welfare, social security, the post office and roads.  It is too bad that Obama does not believe that Americans need a less intrusive government; perhaps then he could abandon the hubris of central planning that would be brought by redistributive change.

Since no one really cares about economics, I guess this is probably just another distraction.


2 Responses to “Obama Flunks Economics 101”

  1. 2 JJ
    October 30, 2008 at 10:21 pm

    Great website, keep up the good work, and stay focused on BO’s inability to create jobs. BO’s policies, and those of “Congressional Liberals” interfere to job creation.

    In fact, a large part of the reason that companies export jobs is to escape the excessive tax and regulatory burden imposed by the likes of “Congressional Liberals”.

    Speaking of “Congressional Liberals”, we need to keep hammering away on that point via the radio ads. These are the most effective messaging we have right now and we need to pound BO on his wealth-destroying, jobs-destroying policies. Keep it up! -JJ

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