red states rule
06-16-2010, 06:48 PM
With the coming tax increases included in IObamacare, and the huge tax increases set to kick in on January 1, 2011 when the Bush tax cuts expire - if you work and earn a paychek - you WILL pay more in Federal income taxes
That should do wonders for the Obama economy
But this second downturn in the economy will be accompanied by inflation, making it worse than the first recession. With interest rates set to rise (because the Fed is no longer massively purchasing securities to keep them down), taxes set to go up (because of Obama’s ideology) and global energy use about to increase, sending prices higher (because the rest of the world is recovering), prices have to go up. But with no growth in real personal income and household credit close to all-time highs, there is not enough demand to pay the higher prices, so a deeper slump will ensue.
The solution? Cut taxes. And bring down the deficit through massive spending cuts. Reduce our borrowing needs by slashing our spending. Free up capital to feed job growth.
It should be evident to all that Obamanomics is a disaster. It reminds one of nothing so much as the medieval practice of bleeding the patient to make him well by expelling the evil spirits that dwelt within. When the patient did not recover, they just bled him more and, when he died, they just said that the spirits killed him. The practice of spending, borrowing and then taxing to fuel job growth is the modern analogy.
http://www.dickmorris.com/blog/2010/06/09/obamanomics-recession/
That should do wonders for the Obama economy
But this second downturn in the economy will be accompanied by inflation, making it worse than the first recession. With interest rates set to rise (because the Fed is no longer massively purchasing securities to keep them down), taxes set to go up (because of Obama’s ideology) and global energy use about to increase, sending prices higher (because the rest of the world is recovering), prices have to go up. But with no growth in real personal income and household credit close to all-time highs, there is not enough demand to pay the higher prices, so a deeper slump will ensue.
The solution? Cut taxes. And bring down the deficit through massive spending cuts. Reduce our borrowing needs by slashing our spending. Free up capital to feed job growth.
It should be evident to all that Obamanomics is a disaster. It reminds one of nothing so much as the medieval practice of bleeding the patient to make him well by expelling the evil spirits that dwelt within. When the patient did not recover, they just bled him more and, when he died, they just said that the spirits killed him. The practice of spending, borrowing and then taxing to fuel job growth is the modern analogy.
http://www.dickmorris.com/blog/2010/06/09/obamanomics-recession/