Wednesday, June 27, 2012

Obama's Perverse Plan for Permanent Recession

President Obama told the nation in his June 14 economic policy address in Cleveland that his economic policy plans for a second term would "create strong sustained growth;…pay down our long term debt; and most of all…generate good, middle-class jobs…." He then spent almost an hour describing policies that would do just the opposite.
He did not begin the speech with much credibility on how to achieve those goals. He has been President for almost four years, and has done nothing to generate strong sustained growth, pay down our long term debt, and most of all generate good middle class jobs.
And what he proposed in the speech as all sides bemoaned was just more of the same. But apparently he thinks we are too stupid to recognize that these are the same left-wing extremist policies that have failed us throughout his presidency, and, indeed, throughout world history. Certainly that seems to be true of his continued supporters.
No. 1: Raise Tax Rates Under President Obama's plan, on January 1 the top tax rates of virtually every major federal tax will increase sharply, as he has already enacted under current law. That is because the tax increases of Obamacare would go into effect, and the Bush tax cuts would expire, which Obama refuses to renew for singles making over $200,000 a year, and couples making over $250,000. The English translation of that target for the tax increases is the nation's small businesses, job creators and investors.

Read more: http://spectator.org/archives/2012/06/27/obamas-perverse-plan-for-perma

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