And by “WE,” of course I mean those who support Supply-Side, market-based policies, low tax and low government positions.
For small government Conservatives and Libertarians of all stripes, this is a year of relatively slim pickings.
There really isn’t a small government candidate in the field, although McCain is far closer than either of the Democrats running.
With Mrs. Clinton’s decided lack of charm, it’s looking more and more certain of an Obama-McCain contest in the Fall.
While polls show that Conservatives, largely due to the specter of either Obama or Clinton winning, have rallied around McCain, more than a few have wondered aloud whether a “Carter-Redux” mightn’t be just what a complacent America needs right now.
Sure, if Obama embarked on what he’s promised, the largest tax hike in U.S. history (yes, allowing the Bush cuts to expire is a DIRECT tax hike), then it is almost certain that;
(1) government revenues will fall, as higher income Americans place more of their disposable income in tax deferred vehicles, like 457s, 401-Ks, IRAs, etc. While lower income Americas, with LESS disposable income to defer, will be bitten by the tax hikes, that won’t offset the drop in tax revenues coming from the more affluent due to their deferring more of their incomes. Consider that the top 10% of Americans now pay over 70% of all income taxes, their deferring more of their disposable income (tax deferred) not only makes perfect economic sense, but the revenues won’t be made up by higher payments from lower income Americans! The result of falling revenues will be the government (at every level) unable to hire more workers...which is ALWAYS a good thing!
(2) Investors, faced with higher Capital Gains rates and a return to Dividend taxes will retrench on investment, ESPECIALLY Venture Capital investment, leading to fewer new ideas coming to market, fewer new companies and fewer new jobs being created!
(3) Companies, faced with a higher Corporate Tax (Obama wants to raise that to the individual income level) will lay workers off in order to maintain their profitability.
(4) All this would lead to a perfect storm that could easily make the Carter years look positively halcyon by comparison!
Imagine this scenario, sky high interest rates, double digit unemployment, coupled with double digit inflation AND with not only a Democrat in the White House, MORE IMPORTANTLY a Democrat controlled Congress!
It wouldn’t matter if “all” the malaise were the fault of Obama’s policies or not. The delicious thing is that he’d take the blame and “liberal tax and spend” would become the pariah it had long been and richly deserves to be!
An Obama-led economic meltdown might just eradicate the American Left as a political force once and for all, which would be the best thing that could happen to America!
Now, there are going to be some misguided, Leftist dolts who’ll regard such prognostications as “wishing ill for America.”
Believing that “socialism has some good points” is “wishing ill for America!
I’m merely wishing ill for more Keynesian/socialistic policies. Yes, I WANT them to fail, no matter what the cost, no matter how deep the pain.
If we must be taught the painful lessons of WHY socialism CANNOT work, let us hasten to them and profit by them!
For small government Conservatives and Libertarians of all stripes, this is a year of relatively slim pickings.
There really isn’t a small government candidate in the field, although McCain is far closer than either of the Democrats running.
With Mrs. Clinton’s decided lack of charm, it’s looking more and more certain of an Obama-McCain contest in the Fall.
While polls show that Conservatives, largely due to the specter of either Obama or Clinton winning, have rallied around McCain, more than a few have wondered aloud whether a “Carter-Redux” mightn’t be just what a complacent America needs right now.
Sure, if Obama embarked on what he’s promised, the largest tax hike in U.S. history (yes, allowing the Bush cuts to expire is a DIRECT tax hike), then it is almost certain that;
(1) government revenues will fall, as higher income Americans place more of their disposable income in tax deferred vehicles, like 457s, 401-Ks, IRAs, etc. While lower income Americas, with LESS disposable income to defer, will be bitten by the tax hikes, that won’t offset the drop in tax revenues coming from the more affluent due to their deferring more of their incomes. Consider that the top 10% of Americans now pay over 70% of all income taxes, their deferring more of their disposable income (tax deferred) not only makes perfect economic sense, but the revenues won’t be made up by higher payments from lower income Americans! The result of falling revenues will be the government (at every level) unable to hire more workers...which is ALWAYS a good thing!
(2) Investors, faced with higher Capital Gains rates and a return to Dividend taxes will retrench on investment, ESPECIALLY Venture Capital investment, leading to fewer new ideas coming to market, fewer new companies and fewer new jobs being created!
(3) Companies, faced with a higher Corporate Tax (Obama wants to raise that to the individual income level) will lay workers off in order to maintain their profitability.
(4) All this would lead to a perfect storm that could easily make the Carter years look positively halcyon by comparison!
Imagine this scenario, sky high interest rates, double digit unemployment, coupled with double digit inflation AND with not only a Democrat in the White House, MORE IMPORTANTLY a Democrat controlled Congress!
It wouldn’t matter if “all” the malaise were the fault of Obama’s policies or not. The delicious thing is that he’d take the blame and “liberal tax and spend” would become the pariah it had long been and richly deserves to be!
An Obama-led economic meltdown might just eradicate the American Left as a political force once and for all, which would be the best thing that could happen to America!
Now, there are going to be some misguided, Leftist dolts who’ll regard such prognostications as “wishing ill for America.”
Believing that “socialism has some good points” is “wishing ill for America!
I’m merely wishing ill for more Keynesian/socialistic policies. Yes, I WANT them to fail, no matter what the cost, no matter how deep the pain.
If we must be taught the painful lessons of WHY socialism CANNOT work, let us hasten to them and profit by them!
