Why obamanomics has failed

Sounds like a great way of achieving economic equality, right? Crop production plummeted, that cause the chain reaction of food shortage, inflation… We all know the rest.

You are comparing Obama to Mugabe??? Is Obama giving all the white farmlands away to black farmers??? Oh my…. Oh my… Scratch your racial nonsense, what else, marcus? Rich people are such tax pu ssies. You should get taxed just for sucking at tax avoidance. I say he lets the individual tax rates go up and cut the corporate tax rate, lock it in for an eternity to make America business friendly. Again - rich people are pus sies. Nice work. Devastate who? Money held in a corp is typically deployed in productive economic activity, hence the rationale to lower the tax bracket - also to remain globally competitive.

The amount that shows up on the personal income statement? Sure, you can evade taxes by using a corporation to disguise personal expenses but that is a crime. Not sure how you think lowering the tax rate on a corp helps UHNW? Personal income? Mostly consumption.

We need the revenue. Bush lowered the rates too far. Those with small businesses already can use them for tax advantages now, let alone with your proposal.

Corporations pay for expenses all of the time, which is perfectly legal in a wide variety of cases especially wide for a C-Corp.

He did however increase spending. From what I know, in general, shifting significant assets from closely held structures to C-corp would typically result in higher overall tax rates, due to double taxation.

Tax rates in general should be lower to encourage investment. Yes, higher tax rates in HNW income would hurt spending, but over time a better tax balance that encourages investment and savings over consumption will be better. Thats just the tax breaks. So they get a tax break and take the rest in the form of war profiteering at your expense. I am not name calling…AEI is a neoconservative think tank. The Fed has created all this money in the last couple of years. No use. No risk. Virtually no loans.

And the Fed is enabling massive deficit spending by the White House and Treasury. The president is asking voters to give him more time, which is a very weak argument. But his Fed chairman is essentially saying we are running out of time and have to embark on this massive monetary action. Mitt Romney should use the Bernanke argument, but not the Fed solution. I prefer not to believe this cynical interpretation.

Although I have to admit, on the eve of the election, the question is going to be asked. That, in turn, will drive up commodity prices, especially energy and food, and will do great damage to the middle class, which is already suffering from income declines and rising living standards. This is what happened in , when QE2 did more harm than good to the economy. Blog Home RSS. Email Signup Sign up to have blog posts delivered straight to your inbox!

Banking and Finance. Constitutional Law. Criminal Justice. Defense and Foreign Policy. Free Speech and Civil Liberties. Global Freedom. Government and Politics.