Tuesday, December 1, 2009

Obama's "job-killing agenda"

We can debate financial regulation and monetary policy all day, but in the end, we have a jobs problem. Ralph R. Reiland in the Pittsburg Gazette reminds us that the jobs problem ultimately comes back to basic principles of supply and demand that every college Freshman learns in Econ 101.
The administration's economic agenda is basically a suicide mission that treats job creation like cigarettes -- something to discourage through increased regulations, more central controls and higher taxation.

He continues:
So how can Obama maintain that economic recovery and more jobs will be delivered through his administration's agenda of higher costs on business via carbon taxes, higher energy prices for consumers and employers, the cancellation of secret ballots for workers in union-organizing drives, mandated hikes in the minimum wage, higher payroll taxes on business to fund the proposed health care mandates, a new surtax of 5 points on the incomes of the nation's key job creators, a higher inheritance tax that directly drains capital from the small business sector that's creating most of the new jobs in the economy, and a 69 percent increase in the tax on capital gains, a clear disincentive to new investment and new job development?

It's either a complete lack of understanding of even the basics in freshmen economics or a refusal to accept the reality of how the world works -- a blind devotion to what's been proven to be a failed ideology, a kamikaze mission, a last-ditch effort to intentionally go down in flames as a spotless devotee of statism and collectivism.

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