I’m sure everybody knows the story of Robin Hood who stole from the rich to give to the poor, right? Well, today Obama laid out his “new” economic plan. Only there’s nothing new there. Redistribution of wealth is Marxism in its ultimate form. Obama is kidding himself if he thinks rich people are going to stand for that. The ultra rich always find a way to hide the money away, so it is those that barely make over $200,000 that will feel the pinch most.
Let’s hit the highlights: First we have a proposed 90 day moratorium on foreclosures. I could support something like that so that people have time to re-negotiate their mortgages. But I find myself asking, “What about the millions that never got this chance?” Seems like this is way too late to make any kind of difference. Secondly, Obama wants to give tax breaks for businesses creating new jobs. That is also a great idea except for the fact that his new taxes that will hit small businesses will leave no room for new jobs so this idea is out. That’s two good-for-nothing ideas. Thirdly, Obama is going to let us withdraw up to $10,000 from our 401ks without penalties. How generous and I am assuming that the government will also sacrifice and give up the taxes on that money as well – oh wait, no it won’t. You’re still going to pay taxes. That will probably take about $2,000 of that money away. Do you really want to do that? That idea sucks!
Now let’s talk about price tag because Obama is all about spending, not cutting. This will cost an additional $60 billion, but who cares cause he’s sticking the rich for it. And did I mention that not only did Obama support the socialistic bailout bill, but he is all for the government buying banks. He sees his utopia on the horizon. Obama said today, “We can do this because we’ve done it before.” Oh really!? In whose version of history? I know Obama’s history is tainted since his biographies seem to be full of misrepresentations and his campaign continuously lies about his connections with nefarious characters (did I mention how much the campaign has given to ACORN?). But our history has never seen anything like this. And the parts of any similar history that we have been following were already proven to be failures. We’ve never crossed this far into socialism and we know that when we go this way, we never go back. So any talk of us coming back better is just rhetoric, especially from a liberal.
And people, when Barack says “tax cuts”, he plans no such thing. He has already said that he will let Bush’s tax cuts go away. That means taxes will go up. And if you read the fine print on his website, you will see that those “cuts” are actually credits. That means more spending from the government which ultimately means more taxes. It’s a vicious cycle he will weave and most people won’t be paying attention and won’t know it is happening. Just like the fact that no “regular” American is out there asking how 95% can get a tax cut when only about 70% are paying taxes and most of the burden goes to the top 5% of wage earners. It’s just more spending!
Where is Sheriff Nottingham when you need him?
UPDATE: I guess I forgot that during the primaries, Hillary Clinton had suggested a foreclosure moritorium. So this idea of Obama’s is not his and he also condemned it when Hillary suggested it.