President Obama and the Coming Stock Market Crash

04Oct08

How destructive to the U.S. Economy would a Barack Obama presidency be?

  

Beneath Obama’s flowery rhetoric lies a dangerous economic plan that will wreak havoc on the American economy.

 

Obama plans to return to the failed policies of high taxation coupled with an expansion of government spending.

 

Worse, Obama says he is absolutely committed to almost doubling the capital gains rate — something he will easily accomplish with a Democrat Congress.

 

In the coming months — when investors realize that Obama will raise the cap gains rate — there could be a stampede of asset sales as investors rush to take their profits now to avoid Obama’s doubling of the tax rates next year.

 

An Obama administration would be a Tax-and-Spend Nightmare. 

His likely strategies will affect not just the larger economy, but your personal wealth as well.

 

Indeed, Obama makes no bones about his plans to go on a tax rampage. Not only would he increase the capital-gains tax rate from 15 percent to as much as 28 percent, he wants to allow the 2001 and 2003 Bush tax cuts to expire in 2010, which effectively raises taxes on Americans by tens of billions of dollars.

 

He also wants to do away with the $102,000 FICA payroll tax cap, which means anyone making over $102,000 would pay an additional 7 percent in taxes on earned income.

 

And the loan dividend tax rate George Bush implemented? Under President Obama it will be DOA!

This hould not be a partisan debate!!!  The extra taxes, controls, and the union invasion will cause a reduction on wealth for every person who is not on welfare or public assistance.  The loss of small business jobs will be felt by all.

 

“From those according to what they have and to those according to their needs”.  Karl Marks

 

Who at the government knows what we should have and what we desire to have?  Biden said the other night that taxes should be raised on a basis of “fairness”.  May I ask “fair to who”?

 

Taxes should be based upon the US Constitution, not upon how much money the Union and special interests can put in the politicians pockets..


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