Obama’s Economic Masterpiece

Larry Kudlow is the economics editor at National Review online and brings forth some great points on Obama’s economics plan.  Socialism indeed:

“He wants,” says Kudlow, “to spend $150 billion on a green-energy plan. He wants to establish an infrastructure investment bank to the tune of $60 billion. He wants to expand health insurance by roughly $65 billion. He wants to ‘reopen’ trade deals, which is another way of saying he wants to raise the barriers to free trade. He intends to regulate the profits for drug companies, health insurers and energy firms. He wants to establish a mortage-interest tax credit. He wants to double the number of workers receiving the earned-income tax credit and triple this benefit for minimum-wage workers.

“The Obama spend-o-meter is now up around $800 billion, and tax hikes on the rich won’t pay for it. It’s the middle class that will ultimately shoulder this fiscal burden in terms of higher taxes and lower growth.”

He goes on. “Obama believes he can use government, and not free markets, to drive the economy. Obama’s program is anti-growth. A President Obama would steer us in the social-market direction of Western Europe, which has produced only stagnant economies down through the years.”

The Wall Street Journal’s Steve Moore has done the math on Obama’s tax plan. He says it will add up to a 39.6 percent personal income tax, a 52.2 percent combined income and payroll tax, a 28 percent capital-gains tax, a 39.6 percent dividends tax, and a 55 percent estate tax.

Not only is Obama the big-spending candidate, he’s also the very-high-tax candidate. And what he wants to tax is capital.

Obama wants you to believe that America is in trouble, and that it can only be cured with a big lurch to the left. Take from the rich and give to the non-rich. Redistribute income and wealth. It’s an age-old recipe for economic disaster….Obama believes he can use government, and not free markets, to drive the economy. But on taxes, trade, and regulation, Obama’s program is anti-growth.

http://article.nationalreview.com/?q=MGYxYWM4NjkxMjUwMzBhZDAwNTg2NjZmYmU5MWU2ZmQ=

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One Response to “Obama’s Economic Masterpiece”

  1. I know Obama has many problems.

    I am seriously disenchanted with politics lately. There is no good candidate. There is really no “lesser of two evils”.

    For me, no current candidate has any knowledge of how to improve the economy. McCain himself even admitted that he doesn’t understand economics as well as he should.

    Regardless of who gets elected, we are going to get screwed.

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