I know, you liberals out there are going, “huh?” with that look of confusion you normally have on your faces made even more pronounced. Don’t worry, I’ll explain.
You see, Obama can’t tax to get the money for his Porkenstein “Stimulus” Bill. Neither can Obama borrow the money – with the world heading into deep recession, there just won’t be the global funds to, willy-nilly, buy $800+ billion in US bonds in addition to normal bond sales to finance our debt/deficit. So, what is an Obama to do? Print it, of course. But printing money is inflationary, and inflation is essentially a hugely regressive tax on the poor, especially poor people on fixed incomes. Obama is going to bail out CEOs and unions on the backs of the poor.
But, surely, he’ll throw some taxes on The Rich in order to make them pay their fair share, right? Well, no. You see, Obama has placed caps on CEO pay and this means that there will be less The Rich income to tax…and more and more compensation paid to The Rich in non-monetary (and thus un-taxed) instruments. CBO estimates (PDF) that Obama’s plan will reduce tax revenues from The Rich by more than a billion dollars per year – and if you think The Rich are going to lie down on this, you’re nuts. The Rich will just have the corporation buy the Manhattan penthouse and then allow The Rich to live in them as part of their compensation package.
The thing is, liberals, is that you can’t do liberalism – as it is based upon false premises, anything you try to do with it will come out wrong. You’re starting out here with a desire to stimulate the economy and help the poor – what you’re going to do is provide swag for corrupt entities and harm the poor, while The Rich get richer. I know the adage is “if at first you don’t succeed try, try again”…but we’re on experiment Number 1,056,095,009 in Liberalism, and each of the first 1,056,095,008 failed miserably. After a while, we have to go with the adage, “don’t be a freakin’ moron”.
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