Obama Prepares to Drop Tax-Increase Bomb On Job Creators
President Obama is obviously panicked. Last month Obama and his supporters spent a lot more than Mitt Romney, but even with that cash advantage and the media on their side, the polls haven't budged. Moreover, the President and his campaign have been running around frantically trying to find something that will stick to Romney, be it provable lies about his outsourcing or outright smears involving offshore accounts. Still, Obama can't get above 47% and Romney hasn't even started campaigning in earnest or spending the $160 million he has on hand.
Today, in yet another desperate attempt to win a news cycle as opposed to do his job and what’s best for the country, Obama will use the high-profile setting of the Rose Garden to call for a huge tax increase on those making $250,000 or more, which will, of course, hit who knows how many small business owners. Naturally, Obama and his Media Palace Guards will spin today's announcement as a call to keep in place the Bush-era tax cuts for those making under $250,000 a year (a middle class tax cut), but it's really a call to raise taxes on our nation's job creators.
In other words, as the economy and job growth stalls, Obama will effectively propose taking money away from those institutions that represent America's engine of job creation. Back in 2008, when Obama first started prattling on about how a tax increase on those making over $250,000 would only hurt a small percentage of small businesses, using numbers from the Small Business Administration, Rush Limbaugh did a memorable job proving how untrue that was.
Regardless, as a general rule, there is no worse time to raise taxes than when the economy is slowing (as it is now). Taking money out of the private sector as though the government can somehow spend it better is a formula for economic suicide. But to take money directly away from those who create jobs in this country is grossly irresponsible, although, for this president, not at all surprising.
What Obama's obviously doing here is again ginning up the class warfare weaponry; cynically attempting to pit the middle class against the wealthy, even if that means hurting those who create the jobs that employ the middle class and the poor.
The second bomb this unbelievably cynical and failed president is dropping on his failed economy today is more uncertainty. Currently, America's job creators are not only worrying about what kind of bureaucratic hell ObamaCare will rain down on them; they now have to worry about where this tax debate will lead. Until today, Congressional Democrats favored extending the cuts up to those making $1 million. So this is a real kick in the teeth.
If you’re a small business owner thinking about hiring or expanding but you have the spectre of all the costs and hidden costs of ObamCare hanging over you, that's bad enough. But now Obama is signaling a fight to raise your taxes on top of that.
Class division, racial division, division, division, division… All this president cares about is winning reelection and doing so by any means necessary. And now on top of his incompetence, the very people who are the only hope to bring down chronic unemployment must also worry about a desperate president's increasingly erratic, desperate, and irresponsible behavior.
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