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Posted: 9:26 a.m. Wednesday, Sept. 29, 2010

DESTRUCTIVE FOR GROWTH 

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By Neal Boortz

When you see the words "destructive for growth," what is the first thing that pops into your mind? In my case, it would be Barack Obama. Or Democrats. Or Democrat polices. How about taxes? But apparently I would be wrong. Our esteemed Community Organizer believes that Fox News promotes an agenda that is "ultimately destructive for the long-term growth of a country that has a vibrant middle class and is competitive in the world." Huh? If Barack Obama wants to see the definition of long-term destruction, all he need do is simply look in a mirror. His outrageous growth of government and spending, his plain disregard for the rule of law, his demonization of the wealthy, the producers, the job creators, and his quest to infiltrate every part of the private sector with more government ... these are all policies that will ultimately be destructive for long-term growth in this country.

There is no doubt that America has a "vibrant middle class." Nobody is anti-middle class. No, PrezBo, not even Fox News. But "middle class" according to Barack Obama is just another euphemism for unionized workers. To Obama, the only middle class workers he truly cares about are those with union ballot boxes and union campaign contributions.

And when it comes to world competitiveness .. is he serious? Does Obama realize that by allowing for the Bush tax to expire will make the United States less competitive world-wide? I've pointed you to this study before by Chris Edwards of the Cato Institute. On a global scale, Clinton-era tax levels may have been "acceptable" in 2000, but the world has changed and so have tax rates world-wide. So would these tax rates even be competitive in today's society?

  • President Bush cut the top federal tax rate by 5 percentage points, but the average top rate in the 30 OECD nations has also fallen by 5 percentage points since 2000.
  • Unless policymakers extend current tax relief, the combined U.S. federal-state top rate will increase from 41.9% to about 46.5%, based on OECD data. That will give us about the tenth highest rate among the 30 OECD nations.
  • If you click on this link, the chart shows that the average top OECD rate fell from 46.7% in 2000 to 41.5% in 2009. If we let the Bush tax cuts expire, we won't be simply going back to our situation in 2000--the world has changed since then as other countries have adopted more competitive tax rates.

In other words, folks, I'm calling BS on Barack Obama. He knows that Fox News is not destructive of the American economy; he knows that Fox News is destructive of the Democrat agenda.

 
 

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