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Posted: 7:42 a.m. Wednesday, Nov. 28, 2012

Economic Growth? 

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By Neal Boortz

I read in an article somewhere, someone wondering where is Obama’s sense of urgency regarding economic growth.  Are you kidding me?  If we learned anything from Obama’s first term in office, it is that he knows absolutely nothing about how to grow our economy.  His idea of economic growth was to spend $800 billion of money that we didn’t have and then pass a bill containing that largest tax increase in history (ObamaCare).  Meanwhile, his government agencies continue to pump out record regulations (cost-wise) while Dear Ruler is parading around the country demanding tax increases on the evil rich and telling business people that they didn’t build their businesses.  Yeah … this sounds like a recipe for economic growth if I’ve ever heard one!

Now that he has been re-elected, there is truly no sense of urgency to grow our economy … nor was there any promise that he would do so to begin with!  Obama’s presidential campaign boiled down to one thing: Wealth envy.  He campaigned on making the rich pay their fair share, keeping the Republicans away from your entitlements and more government spending, particularly on teachers and jobs training programs.  That’s it! 

Look, believe it or not Barack Obama is actually pretty durn smart.  To get to where he is, he must have taken an Econ class explaining the result of increasing tax rates.  Even still, remember when Charlie Gibson presented him with the evidence of what happened when Bill Clinton lowered the capital gains tax?  Here’s a refresher of the kind of logic (or lack thereof) that we are dealing with …

GIBSON: All right. You have, however, said you would favor an increase in the capital gains tax. As a matter of fact, you said on CNBC, and I quote, "I certainly would not go above what existed under Bill Clinton," which was 28 percent. It's now 15 percent. That's almost a doubling, if you went to 28 percent.

But actually, Bill Clinton, in 1997, signed legislation that dropped the capital gains tax to 20 percent.

OBAMA: Right.

GIBSON: And George Bush has taken it down to 15 percent.

OBAMA: Right.

GIBSON: And in each instance, when the rate dropped, revenues from the tax increased; the government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down.

So why raise it at all, especially given the fact that 100 million people in this country own stock and would be affected?

OBAMA: Well, Charlie, what I've said is that I would look at raising the capital gains tax for purposes of fairness.

That right there folks, says it all.  That interview took place months before Obama was elected in 2008 … and from what I can tell, nothing has changed for Barack Obama.  He’s still the same guy who, when presented the evidence, ultimately places what he calls “fairness” above all else.  He is burning more kerosene in Air Force One flying around the country putting his obsession with tax increases on the rich on display.

Know this.  Obama’s obsession with tax increases on the rich has NOTHING to do with raising revenue.  He KNOWS it won’t raise the revenue he claims.  This psychotic obsession stems from his long-held belief that people with a lot of money got that money by taking advantage of and exploiting others.  He learned this from his Marxist father.  He learned this from his anti-American mother.  He learned this from his mentor, Communist Party member Frank Marshall Davis.  He learned this from the Marxist professors and student groups he, by his own admission, gravitated to when he was in college.  Obama is trying to right what he believes is a horrible wrong --- all of these people who got all of that money by oppressing the poor.

This dangerous man is not concerned with growing our economy.  He never has been and he never will be.  This man’s entire campaign was ultimately about redistributing the wealth, and that may be one of the biggest campaign promises he actually manages to achieve.  Bigger than ObamaCare .. bigger than Dodd-Frank .. bigger than whatever major legislation he has in store for us over the next four years .. Obama’s biggest achievement has been the glorification of the moocher.  Not only has his administration literally enabled the moochers but he has emboldened the moochers by championing their cause for redistribution.  Now he’s bent on the destruction of the achievers.

 

 

Neal Boortz

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Neal Boortz chronicles his 42 years of talk radio in his book "Maybe I Should Just Shut Up and Go Away" Available on line and printed from Barnes and Noble and Amazon.

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