Image via WikipediaI think we all heard the poor jobless report and about unemployment inching back up to 9.2. Things are not looking so rosy for the economy or for Obama if he doesn’t change tactics and starts doing what is needed and not be playing his ideological games (socialism / unionism).
I have already mentioned how Obama will not sign free trade pacts with Korea , Panama and Columbia
I think we can all agree that tax loopholes for corporations should be closed; once closed it will produce extra revenue for the government.
Stop regulating the shit out of business. New regulations that will add expenses to existing businesses should be postponed. I think Congress has moved on this issue and so has the president but it is all talk at this point; no action.
The battle in Congress about raising the debt ceiling is pretty heated right now but I think it hinges on only one point; TAXES.
The Democrats insist on raising taxes on the rich to avoid cuts to their favorite domestic programs and the Republicans say NO NEW TAXES.
Here is the problem I have with adding new taxes in a down economy (depression); you cannot take money out of a down economy; FDR did it and he caused a depression within a depression. FDR also spent massive amounts of money on projects to create jobs and that did not work either as it is NOT WORKING NOW.
A normal person in financial difficulties CUTS HIS SPENDING. No more movies, restaurant dinners, expensive toys, vacations, whatever it takes to stabilize the situation. The government is not different. We have identified countless billions of dollars spent on programs that are just a waste of our money; cut them.
Democrats are making a big deal about not touching Social Security and Medicare and will use that against the Republicans in 2012 BUT THEY MUST BE TOUCHED; THEY ARE UNSUSTAINABLE.
That does not mean eliminating them just making small changes that will save billions.
MEDICARE: Right now there is a salary limit on which Medicare deductions apply; raise the limit. Also, up the age at which Medicare kicks in to 66 and up it more in the future when people will work longer due to better health, etc.
The problem with the Democrats is that they want to soak the rich to pay for their pet welfare projects and what needs to happen is for them to CUT their pet welfare projects and I stand with the Republicans on this issue because raising taxes is not good for our current economy.
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