PoliticalChic
Diamond Member
Obama Declares War on Investors, Entrepreneurs, Businesses, And More
Friday, 27 Feb 2009 | 4:39 PM ET
Posted By: Larry Kudlow
Anchor
Let me be very clear on the economics of President Obamas State of the Union speech and his budget.
He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.
That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all either for this recession or from the standpoint of expanding our economys long-run potential to grow.
Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obamas left-wing social vision, and a repudiation of his economic-recovery statements. Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years.
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Obama Declares War on Investors, Entrepreneurs, Businesses, And More - Money and Politics Blog - CNBC.com