Why Obama will Screw the Economy
**Recently Lehmen brothers went down in flames, Merril Lynch was bought out by Bank of America, and Obama is still getting contributions fron Fannie and Freddie. I was watching Kudlow & Company and they were saying that the worst thing that someone could do is raise the Capital gains tax. Why beacuse it will deter investment, and without capital, companies are unable to innovate and grow. They are meant to do that. I don’t think Obama understands it really, he wants to increase the Cap gains tax from 15% to 28%. That is bad. Also he wants to tax the rich, which is also bad. Why is that bad? Rich people tend to invest more money in the market. SO why tax them, if they will provide the needed liquidity for investment banks and companies to function? Giving $1000 in a tax cut won’t cut it. It is temporary, like a tax rebate, and the ones that Congress passed earlier didn’t work out too well. Additionally, Obama plans to spend about $2 trillion in new projects, anout 117 of them. Plus he will spend more on unknown costs such as a universal health care plan, and the continuance of the Iraq War. Giving spending to the government is not the solution, it is the problem. The solution is letting the people spend and invest and use the free market. The government is only here to protect us. Yes some regulation is necessary, but not too much.