OBAMA DECLARES WAR… On Investors, Entrepreneurs, Businesses, And More
Wartime President Barack Obama continued to smash his enemies into submission this week with his plans to increase the budget and national debt.
It’s all part of his big down payment on a new American socialist experiment.
…But, the enemy refuses to go down easy.
Larry Kudlow at CNBC reported:
Let me be very clear on the economics of President Obama’s State of the Union speech and his budget.
He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.
That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all — either for this recession or from the standpoint of expanding our economy’s long-run potential to grow.
Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obama’s left-wing social vision, and a repudiation of his economic-recovery statements. Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years.
Related… Obama’s carbon gamble will cost Americans $65 billion per year.