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Obama's Economic Illusions (Delusions)
The Wall Street Journal ^
| October 10, 2008
| Kimberly Strassel
Posted on 10/10/2008 6:35:10 AM PDT by St. Louis Conservative
And now, America, we introduce the Great Obama! The world's most gifted political magician! A thing of wonder. A thing of awe. Just watch him defy politics, economics, even gravity! (And hold your applause until the end, please.)
To kick off our show tonight, Mr. Obama will give 95% of American working families a tax cut, even though 40% of Americans today don't pay income taxes! How can our star enact such mathemagic? How can he "cut" zero? Abracadabra! It's called a "refundable tax credit." It involves the federal government taking money from those who do pay taxes, and writing checks to those who don't. Yes, yes, in the real world this is known as "welfare," but please try not to ruin the show.
For his next trick, the Great Obama will jumpstart the economy, and he'll do it by raising taxes on the very businesses that are today adrift in a financial tsunami! That will include all those among the top 1% of taxpayers who are in fact small-business owners, and the nation's biggest employers who currently pay some of the highest corporate tax rates in the developed world. Mr. Obama will, with a flick of his fingers, show them how to create more jobs with less money. It's simple, really. He has a wand.
(Excerpt) Read more at online.wsj.com ...
TOPICS: Business/Economy; Front Page News; Philosophy; Politics/Elections
KEYWORDS: 2008; crushobama; democrats; economy; elections; financialcrisis; nobama08; obama; obamataxplan; taxes
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To: St. Louis Conservative
Oh this is just AWESOME!!! Thanks for posting. I really needed a good laugh. Can anyone smell toast? Obama’s ears must be smokin’
2
posted on
10/10/2008 6:42:24 AM PDT
by
BornToBeAmerican
(Sarahcuda = the dems worst nightmare)
To: St. Louis Conservative
Funny satire, if it were not so true. She hit the nail on the head.
3
posted on
10/10/2008 6:42:34 AM PDT
by
cblue55
(Palin is Reagan in high heels)
To: St. Louis Conservative; MeekOneGOP
4
posted on
10/10/2008 6:44:03 AM PDT
by
EdReform
(The right of the people to keep and bear Arms shall not be infringed *NRA*JPFO*SAF*GOA*SAS*CCRKBA)
To: St. Louis Conservative
While sarcastic in tone (and who among us doesn’t appreciate that!) this article does a great job of exposing 0bama’s “economic plan” for the sham it is.
He promises everything to everybody. Yet anyone with half a brain should know how these promises would play out if we tried to enact them. It would be a total disaster for our country.
Case in point: in his health care commercial, 0bama promises to cut costs, and then in the very next breath promises to require coverage for pre-existing conditions. You CAN’T get both! If you require coverage for pre-existing conditions, someone has to pay for it. Costs must rise. Unbelievable.
0bama’s economic policy is like the joke of comedian Steve Wright:
“I got a humidifier and a de-humidifier. I put them in the same room and let them fight it out.”
5
posted on
10/10/2008 6:44:05 AM PDT
by
henkster
($700 billion debt swap with foreign banks to finance government borrowing)
To: St. Louis Conservative
Now, less than three weeks before the voters speak IS the time to put this stuff out. A large majority have not yet decided or won’t decide till they pull the curtain around them in the polling place. Put the fear of an Obama Communist government in them NOW!
6
posted on
10/10/2008 6:46:05 AM PDT
by
Don Corleone
(Leave the gun..take the cannoli)
To: St. Louis Conservative
Obama says every one needs to go to college. But I ask why would any one want to get an education to land a great job only to have the government tax the income to the level of minimum wage?
7
posted on
10/10/2008 6:49:05 AM PDT
by
just me
(JELLY BEANS AND WINKS...)
To: St. Louis Conservative
McCain and the GOP needs to do something to counter Obama’s ads that suggest business is the culprit of all problems. In one ad, Obama as a snippet that shows McCain saying: “Wait until I introduce [Sarah Palin] to the Washington lobbyist!” Of course, Obama is using that totally out of context and he knows it, yet dumb voters believe its portrayed context. Everyone knows the statement was meant to say that Palin would take on the special interest groups in Washington, and even Obama knows it. Alas, stupid voters don't, but the GOP sits there with its thumb up its butt and is not going for the jugular like it needs to. The GOP and it's passive approach to this election is going to see the death knell of capitalism in this country.
8
posted on
10/10/2008 6:52:38 AM PDT
by
econjack
(Some people are as dumb as soup.)
To: St. Louis Conservative
How can our star enact such mathemagic?
Million Mime Math
9
posted on
10/10/2008 6:53:34 AM PDT
by
newheart
(The Truth? You can't handle the Truth. But He can handle you.)
To: BornToBeAmerican
I read this, dead tree version, this morning - laughed out loud.
Satan cannot abide scorn, so I bet 0bama and his supporters are seething if they read this.
10
posted on
10/10/2008 6:56:12 AM PDT
by
MrB
(0bama supporters: What's the attraction? The Marxism or the Infanticide?)
To: St. Louis Conservative
Wonder what the market will do the day after the election?
11
posted on
10/10/2008 7:03:47 AM PDT
by
Sybeck1
((10/9/08) McCain said would "perp - walk" both Frank and Dodd.........)
To: St. Louis Conservative
To: henkster
0bama promises to cut costs, and then in the very next breath promises to require coverage for pre-existing conditions. You CANT get both! Yep ...
What else is 0bama lying about?
13
posted on
10/10/2008 7:05:25 AM PDT
by
ArrogantBustard
(Western Civilization is Aborting, Buggering, and Contracepting itself out of existence.)
To: St. Louis Conservative
Mr. Obama will give 95% of American working families a tax cut, even though 40% of Americans today don't pay income taxes! How can our star enact such mathemagic? How can he "cut" zero? ... For his next trick, the Great Obama will jumpstart the economy, and he'll do it by raising taxes on the very businesses that are today adrift in a financial tsunami. ... It's simple, really. He has a wand.
(head shaking) Kimberly, Kimberly. You just don't get it. It's not mathmagic and Barry doesn't have nor need a wand. Its really all very simple.
The great Obama (Peace be his name) will *simply* apply the principles of Quantum Mechanics to the economy and US Treasury. Sooooooo, just like a Lepton can appear in two separate places at the same time - which defies logic but is a fact - Obama (Peace be his name) will make money appear in two places at the same time.
Ergo, the *Rich* can get a tax increase, but it wont affect them. They'll really still have their money - while at the same time that *Rich* person's money can be given to the poor. In effect they'll BOTH have the same money.
See Kimberly, its really all very simple. It's called Quantum Economics.
14
posted on
10/10/2008 7:08:15 AM PDT
by
Condor51
(I have guns in my nightstand because a Cop won't fit)
To: econjack
EXACTLY!! McCain and Palin need to keep hammering on the fact that it was DemocRATs that caused this mess!
It was Clinton policies that mandated reduced lending standards. It was DimocRATs Dodd, Franks, Meeks, Waters, et al that for years opposed ANY tougher regulation and oversight into the activities of Fannie and Freddie, despite warnings from Republicans (including McCain himself) and OFHEO auditors.
Make so much noise that the MSM are forced to start talking about the Dims involvement in this mess, just like they are having to do now with Ayers.
15
posted on
10/10/2008 7:10:10 AM PDT
by
jeffrho
("An appeaser is one who feeds a crocodile, hoping it will eat him last." - Winston Churchill)
To: Sybeck1
To: jeffrho
Precisely! There is a YouTube video somewhere that shows the hearing a few years ago where the Republicans are sounding the alarms and hauling Franklyn Raines across the coals. Interestingly, Maxine Waters and a bunch of other Dems are on record saying “Mr. Raines is doing great job. There is nothing wrong at either Fannie Mae or Freddie Mac.” The GOP should use this info to show that the Dems are not capable of seeing beyond their own special interests. Instead, what do we hear from the GOP?
...crickets...
17
posted on
10/10/2008 7:18:31 AM PDT
by
econjack
(Some people are as dumb as soup.)
To: St. Louis Conservative
Why is it that McLame can’t make this obvious pointed argument like this WSJ writer can? Next time hire someone from the WSJ for your economic team, sheesh.
To: St. Louis Conservative
obamaa's new I'll raise your taxes IF you make $250,000 ad hit the Memphis, TN market this morning. hubert humphry was the last pres canidate that openly admitted he'd raise your taxes if elect...if memory serves.
19
posted on
10/10/2008 7:33:55 AM PDT
by
GailA
( Valor Quilts for our wounded Troops....I'm a quilt-aholic!!!)
To: econjack
The GOP and it's passive approach to this election is going to see the death knell of capitalism in this country The GOP has no clue what capitalism is.
20
posted on
10/10/2008 7:38:40 AM PDT
by
palmer
(Some third party malcontents don't like Palin because she is a true conservative)
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