As the “fiscal” cliff looms, there is another, perhaps more disastrous cliff of which congressional conservatives should be vary.
In Obama’s “plan” presented last week by tax cheat Timmy Geithner, are some just crazy ideas.
Obama, who ran on raising taxes by $800 billion dollars is NOW demanding $1.6 TRILLION in tax hikes.
If soaking the so-called rich, those who make $250,000.00 or more, many of them small business owners, was going to cause higher unemployment and a stalled economy, what then will soaking them for twice that amount do?
Faced with that sort of government theft, small business owners will NOT expand, will NOT invest, will NOT hire and WILL lay off employees to offset their losses.
In many, MANY cases, small businesses will ALSO raise their prices to consumers thus causing their customers to cut back on THEIR spending.
Combine the two and unemployment rises while the GDP falls.
Basically, the Obama “plan” calls for massive tax hikes and then leaves the spending cuts…dangling.
Obama says, give me the tax hikes NOW and we’ll talk about spending cuts…later…maybe.
Also included in his “plan” is another $50 billion dollar STIMULUS.
Why? Are there more green energy companies that have yet to go bankrupt?
Obama is acting like he has a mandate from 99% of the people to hike taxes in the 1% but, that simply is NOT true. He was “reelected” by a smaller margin than in his 2008 original election and, nearly half the people voted to send him packing.
In fact, the whole “tax the rich” and blow off the spending cuts “plan” only has the support of 11% of the people according to recent polls.
Gallop places the number of people who want “major cuts” to government SPENDING at 92% although, in Obama’s plan, we’ll discuss spending cuts sometime down the road…maybe.
NOT included in Obama’s goofy “plan” are any measures to stabilize Medicare or Social Security.
NONE.
NADA.
Zip, zilch zero.
Oddly, according to Gallop polls, 88% of the people WANT Obama to do something to save Medicare and Social Security.
It seems to me that 88% IS a mandate…92% IS a mandate but…11% is NOT.
So, let’s recap…
