Thursday, November 18, 2010
Penalize Job Creators
Virtually all private sector jobs are created by those with taxable incomes of more than a couple hundred thousand dollars. Those who make less are highly unlikely to be capable of much hiring. If the Bush tax cuts are allowed to expire, those who could grow the economy the most will obviously have their taxes go up which will diminish their capacity to create new jobs. If Barack Hussein Obama permits the tax cuts to lapse (which is effectively a tax increase of course in the teeth of a recession), social justice and fairness will not have been served, new entrepreneurship is sure to suffer, and less new employment is bound to follow. If Team Obama wanted real stimulus, they would lower the marginal Federal income tax rates, as both John Kennedy and Ronald Reagan did. The American public would be amazed at the increase in the rate of hiring that would ensue if his one reasonable measure that would free up capital was take. But Obama and the socialist cabal around him do not seek and will never permit that.