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No it is not, you obviously don't know much about history. Did you know that the top marginal tax rate was 94% during WW2 and the top marginal tax rate before that was 79%. The transfer of wealth was far more pronounced in the past. And the gap between rich and poor has been widening almost unabated since the founding of this country.
The transfer is still going on..healthcare bill and soon cap & trade.
It's not over by any means...
I would like to be able to understand how Obama plans to stimulate the economy by spending more money, raising taxes, increasing energy costs through Cap and Trade and not giving small businesses any type of incentive to hire more people.I am trying to understand the mind of the "economists" behind him and I am really having a hard time.
Obama came into office with his eyes firmly fixed on FDR and the New Deal. As a liberal he absorbed the myth that FDR got us out of the Great Depression. So if it worked for FDR it should work to get us out of the "worst recession since the Great Depression." Unfortunately for Obama (and for us) most reputable historians and economists now recognize that the New Deal was largely a disaster that prolonged the depression. WWII saved FDR's presidency and sealed his legacy. Hopefully it won't take such a worldwide cataclysm to save us from Obama and little Timmy Geithner.
Unfortunately for Obama (and for us) most reputable historians and economists now recognize that the New Deal was largely a disaster that prolonged the depression.
Well, most historians and economists who are held as reputable within the Mises Institute, perhaps. Most anyplace else, I think Creation Science and the theory of WMD might be more highly regarded.
Quote:
Originally Posted by JimMe
WWII saved FDR's presidency and sealed his legacy.
I would like to be able to understand how Obama plans to stimulate the economy by spending more money, raising taxes, increasing energy costs through Cap and Trade and not giving small businesses any type of incentive to hire more people.I am trying to understand the mind of the "economists" behind him and I am really having a hard time.
Well, of course, the first thing to understand is that it is not their intent to "stimulate" the economy. It is their intent to destroy it. And they are doing that quite well.
If they really wanted to stimulate the economy, they would have reduced, not raised the Capital Gains rate. They would have abandoned the "Cap 'n Tax" plan, they would not have shoved this massive spending bill (called "Health Reform") down our throats, they would leave the Bush tax cuts in place, they would not be inroducing all the massive new taxes that they have planned, and they would not be telling private businesses how much to pay their employees.
All these things are making things worse.
This administration "owns" this economy. It's theirs, they created it, and it is what they want.
The sooner we realize and understand this, the sooner we will be able to deal with it. Americans are waking up. But is it fast enough?
We need to contact our State representatives and tell them to oppose this administration on every level. I have heard that states can nullify Federal law on Constitutional grounds, and have done it. I think that is key.
Obama is like 1000 miles of bad road. His agenda must be stopped.
The liberal argument for the way the stimulus was planned is
Lets give money to the poor people because they dont save money, they rush right out and spend it vs those rich/middle classh who save up so they can invest it..
If by poor people you mean Democratic allies like unions and government workers, I agree. But a lot of profitable corporations got money too. Call it chumming the 2010 corporate campaign donor waters.
We were in a heap of trouble before Obama.
But nobody cared.
As long as those at the Corporate top got theirs.
Everybody felt that everything was A-OK.
And they told us it was.
And things are still A-OK, for them.
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