Wisdom or a con job??
With all due respect, BarakO does not have innate wisdom!!
Wisdom comes from experience not education or charisma!!
These same fiscal policies, that BarakO is using now, were tried and failed miserably by FDR in the 30's to end a recession but only made it worse, contrary to the popular FDR myths, FDR helped create the great depression.
The depression lasted over 12 years but he just kept getting reelected!! Ever wonder why?
FDR was a great orator and appealed mostly to the poor and lower income workers through speeches about hope and change while encouraging class warfare.
The history books are not written by economists but mostly by educators trying to sell books to other educators. Most educators are institutionally biased to the left so the real history of what happened during the great depression is biased to the left to give FDR, a Democrat, good PR. If you want to sell scholastic history books you must appeal to those buying the books. Simple marketing!
The Great depression started out just like this recession.
The FDR policies of demonizing the Bankers and Corporate CEOs is a typical tactic used by the left to get elected because most voters are not rich and want to blame somebody else for their financial problems . This class warfare only works to get elected. These attacks create anxiety and mistrust of politicians by the business community and creates more problems than it solves.
Most responsible businesses are not willing to take risks with a tax and spend administration in power. Business projections are based on 5 & 10 year models but with unknown taxes and other regulatory burdens looming on the horizon it is risky to sign long term contracts for expansion. There is plenty of money to lend but most are skeptical to borrow in this hostile business climate. The BarakO administration has waged war against the business community and now wants cooperation. How disingenuous can a person be and why should a businessman trust him now?
FDR also empowered the unions which caused more businesses to fail creating more unemployed. These policies extended and deepened the depression until Japan got us into WW2. Japan was more influential in ending the great depression than any policy or scheme FDR tried.
War money was dumped into every sector of industry and most of the war production was on expendables that were lost in a war. That is what ended the great depression, plain and simple. NOT FDR's policies!!
The Liberal tactics of attacking and raising taxes on the rich causes business to limit exposure to taxes and shrink exposure to any risk, like laying off workers and reducing debt. This only makes thing worse. Prices are increased due to lack of competition in the market and more people are out of work. Unfortunately most of the left of center worshipers cannot see this critically and accept what is preached to them as gospel. No nation has ever spent it's way back into prosperity except while waging war, EVER>>>
When taxes and regulatory burdens are imposed on corporations it is passed on to the consumer with higher prices.
Corporations must make a profit to stay in business and taxes are just a cost of doing business and are included in the prices that the consumer pays for the product.
The ugly truth is that BarakO and his liberal conspirators in the media know that it is just a tactic to get elected. The voters have been conned into believing that someone else is paying for all these freebies that BarakO promised in order to get elected. The goal was to get elected and now the consumers and our children will pay for a record debt as part of the cost included in goods and services that we all must have to survive.
Well at least he didn't break the promise of no higher taxes on 85% of the taxpayers. Instead of taking it out of your paycheck, he will just pick your pocket without you knowing it and you will blame big business for the higher prices.
BarakO is counting on the ignorance of the majority of his supporters about taxes on business and how the costs are transferred to the consumer.
Make work programs funded by the government under FDR did not create real jobs, those jobs went away when the project was finished. A net loss because no sustainable taxpaying jobs were created.
The top 10% of wage earners already pay 85% of the income taxes but use less than 1/10 of 1% of all government services in their lifetime.
Grow up people, Life is not Fair and nothing is really free!!
BTW do people at the poverty level pay taxes?? They will if they spend money on any products and services.
That is the magic pick pocket machine that politicians don't want to talk about.
T. Storm, American
