Thursday, March 12, 2009

I'm no economist, but...

Apparently the economists agree that Obama's plans for the economy so far stink. Or so said many news articles today.

Even I, with my limited knowledge, can see the flaws in some of what he's doing. For example, he's raising taxes on the 'rich'. Sounds good on paper until you realize that translates to raising taxes on all the employers who can afford to give people jobs with benefits.

So he could raise taxes across the board, and everyone would be out a couple hundred dollars, or he could raise taxes on the rich only, and then all the poor are out a job and in line for the handouts that came from raising taxes on the employers, which necessitates raising taxes on the employers more, which puts more people out of jobs....

Doesn't seem very likely to fix the economy, does it?

It didn't work during the Great Depression. Besides, the rich can afford to get out of the taxes! During the Great Depression, they left the country. Then who's paying the taxes? The poor. We're screwed either way.

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