The Economic Recovery Plan

American Spectator ^ | 24 sept 08 | Peter Ferrara

[rellimpank]

We can fix our economy right now if we would just sharply increase taxes on employers, savers, investors, big business, small business, anyone who would start a business, and workers who make too much money. We need more power and authority for the wise, selfless, government bureaucrats in Washington who really understand our economy and how to fix it. Then, acting only in the public interest for the good of all peoples, without any influence from special interests or politics, they can impose new regulatory burdens on the stupid, greedy, corrupt businesses that actually hire the workers and pay them their wages. (snip)

This is the Barack Obama economic recovery plan. He got it from the same people who developed the Hugo Chavez economic plan for Venezuela. Honest.

[Senator Goldwater]

Brilliant piece.

[rlmorel]

Great article.

Eric Allie is the best political cartoonist alive today...and he is a conservative...:)

[Heartland Mom]

This needs to be a McCain ad. Illustrate that once again O has no plan and he is turning to his fellow radicals to advance their agenda - which is certainly not our agenda.

[LibLieSlayer]

If barry gets in, MILLIONS of us small business owners will close up shop. We are just making it now... but with higher taxes we will die. No jobs... no income and move over because we want at the gubmint slop trough. barry will oversee an economic meltdown that will make the Great Depression look like a cake walk.

LLS

[agere_contra]

Accounting regulations adopted after the Enron fiasco required financial companies to mark the value of their assets to market. This means that companies must value their assets on their balance sheets based on the latest market indicators of what their assets could presently be sold for

The problem wasn't the mark-to-market regulations. The author seems to imagine that banks would happily extend credit based on a mass of tier 3 mark-to-myth assets where those assets were obviously overvalued.

The problem was the massive leveraging used by these quasi-Government organizations. FNM, FRE were simply bound to be destroyed the moment house prices went against them. And they didn't care: the American taxpayer had their back.

[ari-freedom]

and inflation will go through the roof.

[LibLieSlayer]

Yep.

LLS

[mlocher]

If barry gets in, MILLIONS of us small business owners will close up shop.

Dear Comrade LibLieSlayer:

That is precisely what we want you to do. You should give up your meaningless capitalist business that enslaves people and go work for the state.

The Communist Indoctrination Committee

[Travis McGee]

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”

--Ludwig Von Mises

[LibLieSlayer]

I am just keeping my doors open now... I am NOT making any profit at all... I am making huge Insurance payments after Katrina... I am making huge medical insurance payments for my employees and I am paying far too much in taxes on very limited income. Inflation in product, shipping and energy are bleeding me to death. I am one of the people that barry says MUST PAY HIGHER TAXES... because I am a small business owner and file my taxes as personal income.

I own two businesses and this one will close if barry gets in. I have been in this business for 34 years... very successful and very profitable for many years... including that POS catah and his 4 years of hell. How dare you... someone that probably has never had the responsibility of risk that I have had to live with day in and day out... because I have people that look to me for their security.

I am not alone... I have a friend that owns a major electrical contracting firm... another is a huge plumbing contractor... and they are in exactly the same boat that I am. I have made more money for my State and the US economy that you have... I can guarantee that. You know nothing of what it takes to be successful in America today... nothing... and you smart ass-ed remarks prove that fact.

LLS

[mlocher]

You know nothing of what it takes to be successful in America today... nothing... and you smart ass-ed remarks prove that fact.

I see that I struck a nerve with my smart assed remarks. My remarks were not meant as a personal attack against you, but rather are representative of what the democratic party wants. I hope you see that. Instead of attacking someone who is on your side, you might do the cause more good by calmly explaining your situation to fence sitters. Never mind the left -- they would just laugh.

I have great compassion for small business owners that enable many Americans to earn a decent living. They are the back bone of America. Please do not make assumptions about my contributions to the American Economy. I have also served my time and paid my dues.

[mlocher]

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