24 November 2008

Come down, Heaven


Please, anyone, tell me that Obama is not going down this route...

Sure, he's got his game together and he's appointing the right people for the jobs (or seemingly so) and he's ready to hit the ground running once in the Oval Office. But I cannot be more sick at the continued support of bail outs (especially the auto industry) and the flawed idea that a hundreds-of-billions-of-dollars economic stimulus package will help boost our economy. You know what I did with my economic stimulus check? I booked a flight to the UK. Others spent money domestically, sure. A laptop here and there, some clothes, dinners out and maybe some rims for a car. But all in all we saw how good the last one did us.

This is really frustrating, especially coming from the great hope, Obama. He wants to raise taxes 3%? He wants to bring back a 40% capital-gains tax? He wants to re-establish an inheritance tax? And then give poorly-spending Americans hundreds of billions of dollars. The logic doesn't add up. Not one bit.

Why not instead, don't raise taxes and don't try to stimulate an economy that cannot be stimulated with a couple of thousands of dollars per adult. How about setting more regulations in place to let the economy regulate itself. Citibank, WaMu and Fanny Mae don't need more money. They need more accountability.

Don't tax us more and give it right back to us in a stimulus check. That doesn't make sense. It took three (maybe four) years after The Great Depression for the horrible economy to regulate. After World War I and II, it took less time than that for the economy to land back on its feet. And it wasn't for bailouts and stimulus packages. It certainly wasn't for raising taxes. And by 'economy' I do not mean today's bear market which is based mostly on perception and fear. That is not representative of our economy.

Here's to another four years.

1 Comments:

At 12:35 PM, November 25, 2008 , Blogger I am but one small instrument. said...

Bigger government and more government programs (AKA spending) is NOT what this country needs at this point. Of course our president elect does not understand this. Or perhaps he does, but is unwilling to bring real "change" that could make a difference, like abolishing the unconstitutional Federal Reserve and IRS agencies.

 

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