Forbes: Obamanomics: The De-development of America It should be no surprise to anyone that President Obama’s economic policies have all but terminated any economic growth and opportunity in America. Because every one of those policies has been decisively anti- growth. Obama has led increases in the top tax rates of virtually every major federal tax — income taxes, capital gains taxes, taxes on corporate dividends, death taxes, even payroll taxes. The only marginal tax rate he has not increased, the federal corporate tax rate, is already the highest in the world. Obama has led massive increases in regulatory costs, burdens and barriers, from health care to finance to energy to see above. Obama and his Administration have cheerled the Fed to pursue wild, zero interest rate monetary policies, buying up most national debt, for years now, laying the foundation for the future return of inflation. The only pro-growth policy has been the sequester, and other cuts in spending, imposed on him, by the Republican House majority. But Obama is working mightily to reverse that, proposing to restore wild-eyed spending in every budget, and speech relating to the subject. Some commenters have asserted that President Obama has failed to produce economic growth because Congressional Republicans refuse any compromise with him. But name any policy President Obama has proposed that would lead to more economic growth and jobs that Congressional Republicans have refused to support. You can’t, because there isn’t one. Some of you are so easy for professional politicians to fool. The real explanation for what is going on here with Obamanomics was actually revealed years ago by the President’s Science advisor, John Holdren. Holdren said, “A massive campaign must be launched to…de-develop the United States…bringing our economic system (especially patterns of consumption) into line with the realities of ecology and the global resource situation….We must design a stable, low consumption economy in which there is a much more equitable distribution of wealth.” And that is what you have with the President’s economic policies, a massive campaign to de-develop the United States. Even I have to say, if that is what the President’s plan is, it’s working. For any other President engaged in this, we would have to impeach him for pursuing such a war on his own people. But in this case, Obama just represents the true heart and soul of his own party, which protects and enables him in this foolish endeavor. So the conclusion to take away: don’t blame President Obama, blame the Democrat Party, which you have a clear chance to do this fall.
Posted on: Tue, 22 Jul 2014 18:26:57 +0000
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