The Obama Economy: As the Dow keeps dropping, the President is running out of people to blame. (Pelosi, Barack Obama)

[bls5555]

Our Troubled Economy Is a Response to Barack Obama's Policies - WSJ.com

As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9034 on January 2, its highest level since the autumn panic. Yesterday the Dow fell another 4.24% to 6763, for an overall decline of 25% in two months and to its lowest level since 1997. The dismaying message here is that President Obama's policies have become part of the economy's problem.

[malamute]

Yes, but don't assume this isn't exactly what Obama has plan. How much easier it is to nationalize banks and all industry if there is no stock market.

In the minds of liberals, the stock market is very unfair. It rewards those people who worked hard, saved their money instead of spending it, invested. The liberals believe that it's very greedy for someone to expect to live better than someone else and we will have equality.

[vec101]

Great article - thanks for sharing.

In the article it stated....

......... Most of his "stimulus" spending was devoted to social programs, rather than public works, and nearly all of the tax cuts were devoted to income maintenance rather than to improving incentives to work or invest. ........
The document was a declaration of hostility toward capitalists across the economy. ........And every risk-taker and investor now knows that another tax increase will slam the economy in 2011, unless Mr. Obama lets Speaker Nancy Pelosi impose one even earlier.
Our Troubled Economy Is a Response to Barack Obama's Policies - WSJ.com

Big business comes to mind for most people and they want to slam the taxes on them. People don't stop to think that the majority of companies in the US are small to middle sized.

I know people in their 50s/60s who own small/mid size companies (100 employees) who are keeping a keen eye on what is going on and are prepared to pack up their toys and go home (close up shop) if taxes and regulations get much tougher. Some have already started to position themselves for it.

People don't realize what a tough environment it already is for business. Between Fed & State regulations and taxes, environmental issues, fixed & variable costs, cost of health coverage for employees, insurances for liability, errors & emissions, bonding, property & casulty, etc., frivolous lawsuits, and other costs and issues - it is already a pretty hostile environment for businesses.

It gets to a point where enough is enough. I'm talking about owners of small/mid size companies who are working 70-80 hours a week, have sacrificed for years to build up their business, are doing the right things, paying their employees well and providing health coverage, are paying their share of taxes, etc. Many have built the company themselves - no inheritance or anyone handing them anything.

This is, or was, America where anyone who is willing to take the risk, work long and hard, sacrifice in the beginning, and make wise decisions can be a success. Then their own country wants to penalize them, take away incentives for the long hours of working toward success, etc. so that everyone in America will be more equal?

No one has a problem with helping out his fellow man when they have fallen on hard times, no one has a problem with contributing to the infrastructure, etc. of the US.

But increasingly take away more and more of the profit from these hard working risk-takers and what is the incentive for doing it?

One may think these small/mid-size companies don't matter much because the majority of Americans are employed by big business - but ask the 100 employees who work at any of these companies if it matters to them.