Can this election come to soon? All of a sudden, Mr. I-Will-Let-The-Bush-Tax-Cuts-Die is calling for renewing them but only for lower and middle income earners. This is the same person who campaigned in 2008 on letting the tax cuts die. The very same who during the 2010 Congressional elections said he would never renew them, who then suddenly reversed himself and agreed to extend them for two years. At the time he said that it was foolish to raise taxes during a recession. Well duh! But no one asks, so what has changed?
No sooner did he sign the tax cut extender measure (along with Obamacare his sole legislative achievement), he began once again drawing another line in the sand vowing once again never to extend them. Along comes a disastrous time in his campaign with polls showing Romney closing in on him, that he suddenly reverses himself once more. Now he says to Congress, let’s skip the drama and just extend them for the folks who need them. He claims that we cannot afford to “spend billions of dollars on tax cuts for the wealthy”. Never mind that the money those “wealthy” pay in taxes will come out of the pockets of the wage earners they either lay off or will not hire, but since when does not receiving revenue equal spending? — A typical socialist tactic!
Every economist knows that the only way to create jobs is to create wealth and wealth can only be created by capital investing in business expansion. Every economist on television practically screams that what we need from government is to get rid of the uncertainty. Almost all suggest that he make the Bush tax cuts permanent. Moreover, he needs to cut the deficit so that inflation fears will be calmed and the Federal Reserve can return to a more normal modus operandi where people will feel safe to invest and save money. Mr. Obama implicitly lies every time he claims he wants to create jobs. His policies have been the opposite of what is needed. Eisenhower, Kennedy, Reagan and Bush, Jr. all found ways to foster a good business environment and each one’s policies led to a decade of prosperity. Obama has only pushed measures and issued executive orders that create more regulation and a more hostile environment for business. Obamacare indeed threatens to remove a huge chunk of the business sector altogether robbing us of 15% of the opportunities to expand the GDP and collect tax revenue.
Our dear leader is interested in creating jobs, but only if they are part of the government bureaucracy. These kind are paid for with tax revenue, but don’t generate profits that could be taxed. Instead of creating wealth and manufacturing a product that might add to the GDP, they rob the private sector of capital that would create wealth. And from this expansion of wealth taxed at a business-friendly rate, we could bring in more receipts that could be used to pay for vital government programs or decrease the debt.
Any high school student with a decent government or economics class under his belt knows this, but being a socialist Democrat means never having to acknowledge reality nor having to worry about being called out for your pandering policy and disingenuous statements, i.e., lies.