Posted on 02/23/2009 2:39:11 PM PST by Scott Martin
The Washington Post reports that Barack Obama is finishing up his budget proposal, and if their information is at all correct, it must be defeated at all costs. Yes, our economy is hurting right now. Rather than heal it, Obama's budget would euthanize the economy.
President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on businesses and the wealthy and by slashing spending on the wars in Iraq and Afghanistan, administration officials said.
If Obama intends to try to cut the deficit, he couldn't come up with a worse plan than raising taxes on businesses and the wealthy. Americans have seen their businesses flee our country for the last two decades, as other countries have gone the other way and lowered corporate taxes. America is now the second most-punitive developed nation toward businesses. If anything, this will decrease federal revenue from corporate taxes, as business dries up and unemployment goes through the roof.
Meanwhile, raising taxes on the only people who might have the money available to invest in the economy is an equally bad proposal...
(Excerpt) Read more at patriotroom.com ...
I believe the man is truly doing what he thinks is the right thing to do.
And if that means killing the economy because capitalism no longer works, well, them’s the breaks.
Nice graphic. Hi, Ireland!
He's no einstein but he's not dumb as a rock either. That leaves one viable explanation.
You mean like the "Buy American" provisions he tried to get in the porkulus package?
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