Our president doesn’t seem to get it on raising taxes on anyone. How can tax revenues increase when household incomes are in decline? He wants to raise taxes to compensate for all the spending he has done over the last four years, including Obamacare.
Raising taxes usually slows down the economy, especially when our economy is fragile. The Fed keeps printing money through the quantitative easing process, but no government is capable of maintaining a serious level of austerity by continuing this process.
Doesn’t Obama know that debt is by its very nature a cancer on economic growth? As debt levels rise, it consumes more capital by diverting it from productive investments into debt service.
Why wasn’t some of the stimulus money used for the shovel ready jobs as promised? He could have created thousands of jobs by repairing our infrastructure, our power grid and approving the Canada XL pipeline, which could make us independent of Middle East oil, and this would increase jobs and revenue and no need to raise taxes, but he increased the size of government and made many new regulations that hinder growth and put taxpayers on the hook.
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Many Americans say that Obama is a nice guy, but his policies are bad for our nation, which I agree with.
The writer lives in Myrtle Beach.