Obama not grasping the situation
Yes Mr. Clements; the 90% taxation the House just past is plain stupid. But when you look at Nancy Pelosi and Barney Frank in association with Obama, why would anyone be surprised.
Jonathan Clements Says the Bonus Tax Creates a Disincentive to Work - WSJ.com
Obama’s entire economic philosophy will continually erode the very fabric of what has made this country great. The ability to utilize personal ingenuity and hard work in order to gain financial reward has always been an addiction that has driven the United States to lead the world in productivity, creativity and personal wealth.
Placing barriers and imposing higher taxes will destroy the incentives that drive individuals to take risks for increasing their personal well-being which in the end stimulates the economy and creates jobs for others.
His interview on 60 minutes really highlights his lack of insight and sincerity about the situation.
As noted in the following article, (Kroft to Obama: Are you punch-drunk? - Craig Gordon and Jonathan Martin - POLITICO.com) the authors point out many instances where Obama was probably inappropriate and too lighthearted as the severity of the topic warrants. But again, why be surprised. He really doesn’t care as long as he can use the crisis for his radical agenda.
“You're sitting here. And you're— you are laughing. You are laughing about some of these problems. Are people going to look at this and say, ‘I mean, he's sitting there just making jokes about money—’ How do you deal with— I mean: explain. . .”
Kroft asked at one point. “Are you punch-drunk?” Kroft said.
“No, no. There's gotta be a little gallows humor to get you through the day,” Obama said, with a laugh.
He signaled that he would like to see changes in a House resolution that would tax the bonuses at 90 percent, saying “we can’t govern out of anger.”
Even his awkward laughter highlighted an issue Obama has faced dating back to the campaign, a sense that he sometimes is too “cool” and detached to fully grasp the public anxiety over mounting job losses and economic worries.
Still, Obama made clear that he’s afraid the nation hasn’t seen the worst of the economic crisis. He said the recession deepened faster than he expected, particularly in terms of job losses.
“If we did nothing, you could still have some big problems. There are certain institutions that are so big that if they fail, they bring a lot of other financial institutions down with them. And if all those financial institutions fail all at the same time, then you could see an even more destructive recession and potentially depression,” Obama said.
“I mean there were a whole bunch of folks who, on paper, if you looked at quarterly reports, were wildly successful, selling derivatives that turned out to be. . .completely worthless,” Obama said, with a chuckle.
“Well, I think that as a general proposition, you don't want to be passing laws that are just targeting a handful of individuals…And as a general proposition, I think you certainly don't want to use the tax code—is to punish people.”
So why does he not understand that what he is doing will ultimately create the worst inflation we have ever seen, destroy the incentive to work and take risks, devalue the dollar to levels we have never seen and possibly bankrupt the nation.
Or maybe he does understand this and sees it as a way to create a more European socialist type of government.
Jonathan Clements Says the Bonus Tax Creates a Disincentive to Work - WSJ.com
Obama’s entire economic philosophy will continually erode the very fabric of what has made this country great. The ability to utilize personal ingenuity and hard work in order to gain financial reward has always been an addiction that has driven the United States to lead the world in productivity, creativity and personal wealth.
Placing barriers and imposing higher taxes will destroy the incentives that drive individuals to take risks for increasing their personal well-being which in the end stimulates the economy and creates jobs for others.
His interview on 60 minutes really highlights his lack of insight and sincerity about the situation.
As noted in the following article, (Kroft to Obama: Are you punch-drunk? - Craig Gordon and Jonathan Martin - POLITICO.com) the authors point out many instances where Obama was probably inappropriate and too lighthearted as the severity of the topic warrants. But again, why be surprised. He really doesn’t care as long as he can use the crisis for his radical agenda.
“You're sitting here. And you're— you are laughing. You are laughing about some of these problems. Are people going to look at this and say, ‘I mean, he's sitting there just making jokes about money—’ How do you deal with— I mean: explain. . .”
Kroft asked at one point. “Are you punch-drunk?” Kroft said.
“No, no. There's gotta be a little gallows humor to get you through the day,” Obama said, with a laugh.
He signaled that he would like to see changes in a House resolution that would tax the bonuses at 90 percent, saying “we can’t govern out of anger.”
Even his awkward laughter highlighted an issue Obama has faced dating back to the campaign, a sense that he sometimes is too “cool” and detached to fully grasp the public anxiety over mounting job losses and economic worries.
Still, Obama made clear that he’s afraid the nation hasn’t seen the worst of the economic crisis. He said the recession deepened faster than he expected, particularly in terms of job losses.
“If we did nothing, you could still have some big problems. There are certain institutions that are so big that if they fail, they bring a lot of other financial institutions down with them. And if all those financial institutions fail all at the same time, then you could see an even more destructive recession and potentially depression,” Obama said.
“I mean there were a whole bunch of folks who, on paper, if you looked at quarterly reports, were wildly successful, selling derivatives that turned out to be. . .completely worthless,” Obama said, with a chuckle.
“Well, I think that as a general proposition, you don't want to be passing laws that are just targeting a handful of individuals…And as a general proposition, I think you certainly don't want to use the tax code—is to punish people.”
So why does he not understand that what he is doing will ultimately create the worst inflation we have ever seen, destroy the incentive to work and take risks, devalue the dollar to levels we have never seen and possibly bankrupt the nation.
Or maybe he does understand this and sees it as a way to create a more European socialist type of government.
posted by Anonymous at 5:46 AM
2 Comments:
I think Obama wants our country to fail. It is all a part of his plan to make government more powerful.
Socialist government- I will say I knew things would be bad with Obama, I just didn't think it would be this bad.
We have not even begun to see the damage these radical democrats can do.
Obama is still being thrown softballs during interviews, but hopefully that will change before it is too late.
Post a Comment
<< Home