President Clinton takes over the tax bill presser because the kids had something more important to do. Given the fact that Obama is wanting to keep the rates where the Bush administration left them instead of reverting back to where the Clinton administration left them, seems to me that President Obama should have asked Bush to be there instead.
There’s a contradiction here that is unavoidable. Democrats have been berating Bush and his tax policy as being just ‘tax cuts for the rich.’ That there wasn’t any relief for the middle class. That’s what they said. Now, however, Obama is saying that the current rate represents tax relief for the middle class. And this makes any logical sense to who?
For those same years they berated Bush, they said that it was Clinton’s higher tax rates that led to all that prosperity, and Bush’s tax cuts that led to the recession. If you follow their logic, Bill Clinton and Obama should be saying they need to raise the taxes on everybody because, after all, it worked before. But they’re not saying that. They don’t have the honesty either to say that they were mistaken, misguided, or just plain wrong.
Then comes this question (at the end of the video), framed as though the recession is sluggish because people can’t get business loans for capital. I don’t know who asked that last question. It sounded like Ed Shultz. But talk about a non-issue, or a straw man issue. Idiots like that questioner fail to realize one simple fact. No one wants to go into debt to start a business or invest in same for the same reason that those who have the money are not. It has nothing to do with not being able to get a loan.
The administration has to first create a business friendly climate. Have a consistent tax policy. The FairTax would be nice. Eliminate the FUD factor. They can do that by not continuously berating capitalism, calling corporations greedy, and calling for raising their taxes and using the tax hammer to chase down private capital both here and overseas. Business owners don’t yet know how badly Obamacare will impact their operation. One thing is clear, it is not going to be helpful. And the effects are going to far outweigh the wisdom of starting a business with such an unknown out there.
Another thing is clear, the United States is not facing its unsustainable debt, inflation, and hyperinflation, because taxes are not high enough. They got there because Washington has been spending way more than they have.
If you want to face the truth, it is the government who is greedy. They just can’t seem to get enough of what does not belong to them, your hard-earned money. They’re so greedy that they want to reach into your grave and take over half of what you had left over, after taxes, when you’re six feet under. That, on its face, is immoral. This administration, with the cooperation of both political parties over time, has just got to stop looking to the few remaining people who are productive and working to bail out their sorry ass for spending money they don’t have and for keeping entitlement programs that are not sustainable.
If Washington wants to avoid the chaos we’ve seen in Greece, France, and Great Britain, they need to get out in front of it here and now. Stop demonizing ‘the rich’ and start calling on ALL Americans to have their come-to-Jesus moment and, like our founding fathers had to do, and did it proudly, start making the needed sacrifices now, before it is too late.
UPDATE: 12/13/2010, Strengthening The Recovery