Posted on 01/28/2015 3:30:42 PM PST by Sean_Anthony
Raising the capital gains rate will put a stranglehold on risk taking and available capital
President Obama just told the country during his State of the Union address that he is going to increase the capital gains rate again in order to raise revenue for new spending programs. Given that Obama already knows that raising the capital gains rate actually REDUCES revenue, we are left with a President who believes that we can pay for increased spending by reducing revenue.
He acknowledged this in 2008 during a televised debate against Hillary Clinton, but went on to state that rates should be hiked – despite its effect of reducing revenue – because it was more “fair” taxation (ludicrous, but a subject for another day).
Extraordinarily and equally disappointing about this fundamental economic error is that no one in the major press outlets, on the day after the State of the Union speech, pointed out the President’s gaffe. Do we really have a President who pushes for paying for increased spending projects with policies that reduce revenue? Or do we have a President who puts forth an initiative that he knows has very little chance of realization, but chooses to do so anyway so he can characterize the Republicans as protecting the wealthy while he can claim to protect the middle class? And did he believe that the media was so clueless that they would not laugh at him the following day?
(Excerpt) Read more at canadafreepress.com ...
We are not there yet, and that is racist.
That’s the plan.
The following format works on all posts mentioning the word, “Obama”:
Obama’s plans to __________________ will hurt __________________.
Works every time....
Everything he touches will hurt the American People either thru Laws or Economic.
Thats the point - DUH!
He stated it very clearly on a televised national debate.
“Tax increases will hurt the economy, but it must be done out of fairness”
I think Charlie Gibson was the MSM tool asking the questions
If you elect a Marxist why should you expect to get Capitalist policies? Duh?
He must envision his legacy as being a great American leader, but no amount of current and future taxpayer money can buy that degree of forged credentials.
He doesn’t care. After all, “fairness” demands it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.