Obamanomics 101

© ignoranceorapathy.com 11/14/2008
Another day, some more losses in the stock market, Obamanomics is really starting to sink in.

Follow up:

The really scary part is how the economic situation is going to be used by the Democrats.
In the words of Joe “say it aint so” Biden “Mark My Words” we are going to see a push by the Democrats to save us from the world. They are going to push to nationalize everything you can think. In there minds (if they actually do think) the government must protect us from this economic downturn. Never mind that fact that they are causing it.

Democrat policies and proposed policies are the root cause of the current situation on Wall Street, the credit markets and the broader economy in general.

The U.S. is supposed to be a free market capitalist system, it is layered that way and it works that way. When Socialist Democrats come in and start proposing to nationalize everything from your bank to your 401(k) to the auto industry, well the markets and the broader economy tank. They tank because everything about the way capitol and labor are acquired and utilized will now have to change under this socialist regime. Most investors and venture capitalists are starting to get out of the markets as the government is taking over and removing any reward for the risks that these people have taken.

No reward, why take the risk?
Think about it, would you risk your money investing in a business if you knew that in a few months you would either be taxed out of existence or the government would come in and take it over?

I will relate to you the easiest way I can explain just how destructive Obama’s tax plans really are, besides the obvious dangers of his Marxist redistribution policy.

Obama claims if you make under $150,000.00 per year you will get a tax break.
(I thought 95% of the country was getting one but that was another lie on a different day) Here is the dirty secret that has been in plain site the whole time.

You indeed may get a break on your federal taxes.
Your employer is going to get a tax increase.
Everyone that makes or sells everything you buy will get a tax increase.
If you are in a sales position that sells to business, all of your customers are going to get a tax increase.

So if everyone you do business with is hit with higher taxes, whom do you think is ultimately going to pay those higher taxes?
You will! As those higher taxes are passed along either as higher prices or layoffs in the workforce.

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