LARRY KUDLOW OF CNBC LAYS OUT QUITE A REPUDIATION OF THE GOVERNMENTAL PONZI SCHEME BEING SHOVED DOWN AMERICA'S THROAT...
OBAMA DECLARES WAR ON INVESTORS, ENTREPRENEURS, BUSINESSES, AND MORE
Friday, 27 Feb 2009
Posted By CNBC's Larry Kudlow, Anchor
Let me be very clear on the economics of President Obama’s State of the Union speech and his budget.
He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.
That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all — either for this recession or from the standpoint of expanding our economy’s long-run potential to grow.
Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obama’s left-wing social vision, and a repudiation of his economic-recovery statements. Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years.....
Study after study over the past several decades has shown how countries that spend more produce less, while nations that tax less produce more. Obama is doing it wrong on both counts.
And as far as middle-class tax cuts are concerned, Obama’s cap-and-trade program will be a huge across-the-board tax increase on blue-collar workers, including unionized workers. Industrial production is plunging, but new carbon taxes will prevent production from ever recovering. While the country wants more fuel and power, cap-and-trade will deliver less.....
What Kudlow is describing is a governmental application of the much reported "Ponzi Scheme" we have heard about lately in the news... except now it is the government that is perpetrating the Ponzi format to tax paying American's.
We are being led to pay people and programs today... with tomorrow's taxpayers.
Our own little governmental Ponzi Scheme... so who's going to prison over this one?
Now... just how long do you thing Kudlow is going to keep his job at CNBC? He certainly isn't towing the party line here...
Stay tuned... there is a rout coming...
xtnyoda, shalomed
OBAMA DECLARES WAR ON INVESTORS, ENTREPRENEURS, BUSINESSES, AND MORE
Friday, 27 Feb 2009
Posted By CNBC's Larry Kudlow, Anchor
Let me be very clear on the economics of President Obama’s State of the Union speech and his budget.
He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.
That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all — either for this recession or from the standpoint of expanding our economy’s long-run potential to grow.
Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obama’s left-wing social vision, and a repudiation of his economic-recovery statements. Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years.....
Study after study over the past several decades has shown how countries that spend more produce less, while nations that tax less produce more. Obama is doing it wrong on both counts.
And as far as middle-class tax cuts are concerned, Obama’s cap-and-trade program will be a huge across-the-board tax increase on blue-collar workers, including unionized workers. Industrial production is plunging, but new carbon taxes will prevent production from ever recovering. While the country wants more fuel and power, cap-and-trade will deliver less.....
What Kudlow is describing is a governmental application of the much reported "Ponzi Scheme" we have heard about lately in the news... except now it is the government that is perpetrating the Ponzi format to tax paying American's.
From Wikipedia...
A Ponzi scheme is a fraudulent investment operation that pays returns to investors from their own money or money paid by subsequent investors rather than from profit...
We are being led to pay people and programs today... with tomorrow's taxpayers.
Our own little governmental Ponzi Scheme... so who's going to prison over this one?
Now... just how long do you thing Kudlow is going to keep his job at CNBC? He certainly isn't towing the party line here...
Stay tuned... there is a rout coming...
xtnyoda, shalomed
posted by XtnYoda at 2:32 AM
1 Comments:
why doesn't his "cracker jack" economic team read any of the massive amounts of statistics and previous failures in the history of economics?
Because it is realy not about the math models of good economics, it is social re engineering if you ask me.
thx for listening!
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