Posted on 03/02/2009 9:00:57 PM PST by bobsunshine
If Obama's oratory was matched with economic wisdom, leavened with a sound knowledge of economic history, America would have nothing to worry about. Unfortunately Obama is a profoundly ignorant man who shares the statist's contempt for economics, an attitude that will have fearful consequences for the US economy. His ideological mindset is exemplified by his supreme indifference to the state of the markets. The Dow had its worst February since 1933 and, as of this writing, stands at 7,062.93. And this happened after he had given the public another oratorical masterpiece, proving that though you can fool a large number of people for a long time you cannot fool the markets. They listened and then they sold him short.
So what did the markets evidently understand that millions of Americans don't? For starters, his spending package is a monstrous piece of legislation that will do grave damage to the US economy. Furthermore, it is not even a stimulatory program in any meaningful economic sense. It is loaded with pork designed to advance the interests of the Democrats and the country and future generations be damned.
Literary hundreds of thousands of condemnatory words have already been written about Obama's economic incubus. Nevertheless, many more are necessary if Americans are to be made aware of its destructiveness. Obama lied when he said that millions of American will not suffer from the costs of increased taxes because these will be levied on the "rich", those earning $250,000 or more. In fact, there are two lies here. His super rich friends like Buffett and Soros will be able to avoid his taxes. What this means is that his taxes on the so-called rich are really taxes on getting rich. They are taxes on investment and entrepreneurship....
(Excerpt) Read more at seekingalpha.com ...
At the end of the day, Obama is nothing but a highly polished Hugo Chavez with the same corrupt instincts. To him the crisis is an opportunity to plunder Americans and then — with the willing assistance of America's corrupt media — use the loot to effectively turn the US into a one-party state
Edit: Obama's Spend, Tax and Borrow Policies Will Wreck HAS WRECKED the U.S. Economy!
It’s become very apparent that wrecking the economy IS his objective.
He has waged war on prosperity; family owned business, hard working, tax paying Americans, banks, the stock market and our 401k’s.
But bump for later
Obama maybe figuring you’ll be kissing his feet for handouts by that time.
Yep.
“I can plow a field all day long, I can catch catfish
from dusk till dawn.
I grow good ol’ tomatoes and make home made wine and
And A County Boy Can Survive!
A Country Boy Can Survive!”
—Hank Williams Jr.
“It’s become very apparent that wrecking the economy IS his objective.”
I believe so. A crushed economy is a crushed Nation is despair, thus a demand for “change”. Enter Socialism stage Left.
It’s a plan that has been in the works incrementally for years I believe, and is now being shoved down our throats.
If you either test your memory banks, or do some research of the Clinton years, I believe you will find some interesting similarities in discussion. The only thing that prevented Clinton from successfully implementing that which Obama is rushing through Congress today is the “Crisis” (although the RATS tried to talk us into economic crisis prior to election day) just wasn’t there.
It became Clinton’s job then to ensure a future crisis, and he handled that job well.
tax on GETTING rich
so true
libs will never understand this.
Lies!
$250,000 bracket applies to "rich" COUPLES.
It's a much lower bracket for us singles.
Here’s what I want to know...aren’t there ANY moderate Dems who will speak out against this man? Is there any principled Democrat who will make a statement? WHAT HAS HAPPENED TO US?
Indeed. I think the following is his plan:
* Destroy capitalism to the point that the Dow falls below 2,000.
* The U.S. Government buys up all industries they will find useful in the new regime, including their own media outlets.
* Obama declares our currency worthless and will tell the rest of the world that the U.S. will not pay any debts they have incurred.
* Democrats release a new alternate currency (we'll call it the "Amero") but their value and use is totally controlled by the state and large amounts of wealth (aside from Obama's elites) will not be allowed to have much more than the average citizen - all in the interests of "fairness".
* Citizens will be fully dependent on government for all their needs and the currency will only be there to provide the illusion of possessing some purchasing independence.
Not a pretty picture. But it's what I predict will happen.
The Left cares not about the destruction of our economy. As long as what happens consolidates the Dem’s power, the state of our country is inconsequential.
bobsunshine you got that right!!
Not long ago, responses to your post would include the word, “tinfoil.”
Not anymore.
And all property will eventually be foreclosed on by the government owned banks. We’ll all be living in 2-room apartments and standing in line to get rationed toilet paper.
And I might have been one of them. But the only way Obama's responses make sense is if he not only is out to destroy capitalism but also that he's out to destroy the dollar. If the dollar is worthless, it gives him the ability to invent a new currency that government can use to regulate our behavior as never before because the dollars won't be passed our anymore by your employer or by Wall Street. They'll be passed out by Washington.
In addition, Obama will "solve" the dollar crisis by essentially declaring bankruptcy and expecting our national debt to become null and void. That's why he can spend like there's no tomorrow - because he knows they'll be no tomorrow for the American dollar.
It really saddens me that all we, as a country, have accomplished in 225 years is going to be intentionally pissed down a sewer by people who think that America is a wasteful racist bully that needs to be torn down and started over.
Bill Clinton was a selfish lefty tool but he loves wealth way too much to kill the goose with the golden eggs. I think Obama intends not only to kill the goose but serve it to the poor for dinner.
They also say they can do it for less than the employer pays now. That has to be garbage. As a former employer I know I spent a lot of time and effort trying to get my employees and I the most coverage for the fewest bucks. I know government will not do what I and every other employer does to lower his costs. My primay job as owner was to produce the best product at the lowest cost. If my competitors found a way to save a few bucks, I had best do it too, or kiss my customer base goodbye. And if I found a savings it did not take my competitors long to find and implement the same savings. It is the way competition works. And I could not get good employees with out providing excellant health insurance.
But how does Obama propose to pay for the insurance on both employees and those who do not currently have insurance? They are going to tax those who earn more than 250 thousand dollars a year. Those who pay taxes on income larger than 250 thousand dollars are mostly small businesses that are not incorporated. And just because you are making more than 250 grand a year does not mean you are personally spending over 250 grand a year on your own personal wants and desires. Future operating capital is in that 250 grand plus. That is the disadvantage of not incorporating.
Our tax laws have a point in which a small business becomes large enough that incorporating becomes more tax effective than running a business in your own name as a business that is not incorporated.
A corporation has to have a board of directors who have control of the business. They hire the CEO who runs the company. A small business must find people who will let the CEO have control, yet meet the legal requirements for their independent control.
But who is OBAMA going to tax to pay for the universal health care. The same small business people now subject to personal income taxes. The small business owner is going to get the increase in taxes.
So what will they do? Most likely they will reduce their profits to keep from paying the taxes. One way to do that is to stop growing. Just raise prices enough so the volume of business lowers enough to reduce profits. But to think this will cause small businesses to try to grow and add jobs just defies human nature.
I have been head of 2 companies that I ran under my personal income tax account. I have been head of 3 corporations handling all the problems caused for a small business operating under tax rules created for small corporations.
The primary difference is the cost of accounting. Corporations have significant accounting costs that are quite expensive for a small corporation. There are also many taxes and fees(another name for taxes) placed on corporations that have to be paid.
But I fail to see how transferring the cost of health care from the small business directly and then putting both his cost and the cost of insuring the uninsured on his tax bill does anything except make the small business less competitive.
Obama reminds me of an employee I once had. He could speak at length on most subjects sounding as if he were totally on top of the subject. But when his thoughts were analyzed by any thinking person his ignorance of the facts and situation, were found to be extensive, but if one studied the situation you soon learned of all the factors he was not considering.
Oh and don't put much faith in Bill O'Reily. He proves every day on his show that he has never been there, done that, or actually studied the situation businesses face. He is only good at interrupting those that have while pretending to know what he is talking about.
If I were doing commericals I would use the following line.....to take down Obama care.
Who do you want to pay for your health insurance... your employer or YOU? IF you say your employer then why don't you tell you congress person and senators of your opinion. You need to know that if we taxed at the rate of 100 percent of all those making more than 250 thousand a year... it would not cover the bill. That leaves you to pick up the tab.... and the employers off the insurance hook.
Oh one final thought. Did you ever go to the Cleveland clinic and check the nationality of its patients? Here is a clue.... Canada is the answer. Were I a Canadian I would be dead. I was diagnosed with terminal cancer in 1997 and again in 2006. I would not have been eligible for treatment that saved my life in 1997. Canada does not try to cure terminal patients. What part of only receiving comfort treatment in 1997 do you think makes the Canadian system appeal to me most?
If under some circumstances the cancer cured itself in 1997, I would have been allowed to die in 2006.
That is why Canadians sell their homes and all their possessions to come to the USA for treatment when they are diagnosed with terminal cancer. What part of us getting the same system as Canada do you think makes the American system appeal to them most?
One other thing. In the USA if a doctor or hospital takes Medicare patients they MAY NOT TURN DOWN a patient with out insurance. You will note that there are no stories in the MSM about all the people who die with out care in the USA. The reason is simple... THERE ARE NONE!!!!
IN 1997 I had no insurance. No one who cared for me at the Adena Cancer care center, or the Adena Hospital knew I did not have either Medicare or health insurance of any kind. I got great care.
When I was cancer free and got the 400 thousand dollar bill for my treatment, the hospital office was surprised when I offered to pay what Medicare would pay them. The office was shocked. She asked me what size payments I would make if they agreed. I replied Full SIZED! I told her I would write her a check within 30 days for the full amount that Medicare would approve for my treatment if I had Medicare. That took an 800 thousand dollar bill and turned it into a 400 thousand dollar bill. I paid it promptly.
But that was after I got the treatment they thought they were doing for nothing.
I did the same with my wifes cancer treatment in 2003 and 2004. But this was with the JAMES CANCER treatment center in Columbus. They only knew that my wife Samora had no insurance. The treatments did not work, but she got all the treatments her condition called for. They did not stop treatment until she requested HOSPICE care. And she got in the best Hospice in Columbus with no insurance... She got the best care.... But by 2006 I had insurance, Medicare plus AARP suplimental that covered all but a few hundred bucks.
An absolutely incredible post yet again, Mr.Tator.
I never am disappointed when I read and reread your posts. You are absolutely right that the government will spend more. They also will ration more than the current method of health care in this country. The costs will skyrocket OR health care quality will plummet in this country, and indeed the world, since quality has been led solely by the US over the last century.
England just started banning even more treatments for cancer patients because they are “too expensive”.
This is the way the US will go, and if the US goes that way, the progress we have made in the past century will come to a major slow down. There is no way to make a rational argument that it will not.
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