Guess now that Obama is elected he has decided it will be fine to rob a little from the poor as well. The creation of a "Cap and Trade" system is an ENERGY TAX on Americans. The Obama budget admits this tax will be at least $645 billion in the first 8 years alone. Prices will go up on gasoline for cars, energy to heat and cool your home. Prices will increase on just about every good you buy -- from food to consumer goods because of the higher energy costs to grow the food and make the goods.
Now that all their wealth has been virtually destroyed most of the big money that supported Obama has now become his biggest critics. They are not happy and they want Geithner tossed out with the bath water. We don't mean to sound impatient, but we've seen enough. Business leaders and executives were willing to take their punishment, but now they don't understand how they are to create jobs when they are also going to be required to pay more in taxes and stupid things like 'cap and trade'.
Obama and Geithner had a plan to pass the 'bad paper loans' to the hedge funds, but the good hedge funds balked when they found out they were going to take on toxic paper and at the same time pay a 40% increase in taxes on any of the gains they took from the government after the government asked them for the help. Who created this plan? We don't mean to sound impatient, but we've seen enough. The country is in the middle of the worst financial crisis in 75 years, and the second-most-important person in charge clearly isn't the right man for the job.
Bring on Bill Clinton. At least he understood what business was about and who paid the bills in this country. He may have smoked a dirty cigar every now and then, but he understood the necessity of creating wealth.
Saturday, March 7, 2009
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