My Diary on the Daily Kos.
I posted my usual diary on the Daily Kos. As usual, it generated crazed anger without a substantive response.
For many of you who have attached all your hopes and dreams onto Barack Obama, let me forewarn you that you will regret your decision. Barack Obama is someone who does not hide what he is going to do:
1) He will use the tax code to redistribute wealth. Since the bottom 40% of Americans have zero income tax liability after deductions, Barack Obama cannot give a tax cut to 95% of Americans. Instead, he will give the bottom 40% a check;
2) He will work to rewrite the Constitution from a document that limits the government's power to a document that outlines governmental obligations;
3) He will increase the government to a size that will make 2006 Republicans blush;
4) He will increase the Capital Gains Tax for purposes of fairness;
5) He will Ban the Secret Ballot for Union workers by supporting the Employee Free Choice Act;
6) He will increase the amount of government spending on higher education, and allow students to go to school for free for volunteering; and
7) He will work to create a nuclear free world.
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1) Tax Policy: By increasing the income tax for people making above $200,000 (just changed from $250,000 over the last two weeks), Barack Obama hopes to use that money to then give, what he calls "Tax Cuts," to 95% of Americans.
First, that is not possible because the bottom 40% of Americans have ZERO income tax liability after deductions. Instead Obama will give the bottom 40% a check from the government.
Under Bill Clinton, welfare reform was enacted (See TANF), which was successful at bringing millions of people out of poverty. Now, Obama seeks to bring back the welfare of old via the tax code.
Essentially, one will be paid by the government and will lose that benefit as the individual moves up the tax brackets.
This is no way to manage a tax system. Taxes should be used to increase government revenue, not to take money from those who create wealth and give it to those that don't.
The only way people make money in America is by providing goods and services to your neighbor for payment. And for those of you who complain about investment income, investments are made with after tax dollars, meaning someone already worked for that money before it is invested.
Furthermore, with a $13+ trillion economy, fraud is so minimal that those who cite "cheating," "manipulation" and "exploitation" as primary means of wealth creation disqualify themselves from being taken seriously.
When the people making over $200,000 see their income taxes rise significantly, they will be forced to fire workers and hire less. Moreover, since people at the bottom will be subsidized, expect more people to make decisions to forgo rising up the tax brackets.
If you subsidize something, expect to get more of it. If you tax something, expect to get less of it. Well, by taxing the rich, you will get less rich people. If you subsidize the poor, you will get more poor people.
Lastly, one never wants to raise taxes during a recession on anyone.
2) The Constitution: The American Constitution is one of the greatest documents ever constructed for the very reason that it limits the government's power, rather than creating government obligations. Just read the Bill of Rights and you will see the phrase "Congress shall pass no laws" rather than "Citizens have a right to X."
Our Founding Father's lived the horrors of an ever expansive government. Consequently, they knew that government's monopoly of force and coercion needed to be controlled. Instead, the sole function of government was to protect our individual liberty. Barack Obama on the other hand disagrees:
How can Barack Obama take the Oath to defend the Constitution if he openly wants to destroy it?
Obama's absurd view, aside from being antithetical to America and the Constitution, demonstrates a lack of understanding of basic economics.
For example, I could declare by fiat that everyone has a right to housing in the Constitution, but that will actually result in housing shortages and less people owning homes, as is the problem of South Africa's Constitution.
If there is a right to housing, that means that no business will want to construct homes (lowering supply and increasing the price). As people stop building the homes, less people are able to find housing than would otherwise if the government got out of the way. Then the government to correct the problem it creates seeks to use tax dollars to construct homes for all citizens, bankrupting the Nation because government contractors never save costs.
So much for a Constitution that has obligations or gives people "rights" by taking away other's liberties.
3) Spending. Barack Obama has already promised $1 trillion+ in new spending on top of the $3,100,000,000,000 + $750,000,000,000 we spent this year. So what if the Republicans did not follow their conservative principles and increased spending? That doesn't justify Obama openly advocating increasing the budget by $1 Trillion.
4) Capital Gains Tax. Folks, it is just a fact that people invest less money in long-term investments as taxes increase for that type of investment. When less people are interested in long-term investments, demand drops and prices fall. This includes the stock market. I guess you folks who own a 401k will find it "fair" when Obama tanks the Stock Market.
5) Employee Free Choice Act. Barack Obama supports the Employee Free Choice Act. The EFCA, bans the secret ballot for determining whether workers unionize in favor of "Card Check." Card Check means that a Union boss or mafia thug can shove a card in your face, tell you to sign it, and you just joined a Union. Even George McGovern is against this Law, because the Secret Ballot is important to our Nation's democracy, including the workplace. It is unjustifiable to ban the secret ballot, other than the fact that Obama is paid by Union bosses who want more dues.
6) Education. The reason why higher education in America is expensive is because it is subsidized.
If you were in charge of a University, and you charged $5000 per year to attend, there would be a few students who could not afford to attend. They would take our loans or work during the school year.
But, if the government stepped in and offered the students who could not pay grants for attending or subsidized loans, you could keep increasing the price of tuition each year so long as the government kept offering to pay for the people who could not otherwise attend.
That is exactly why tuition rises each year. Barack Obama wants to continue on that path; he will keep using taxpayer dollars to pay for people who cannot attend college, and people who do not qualify for grants will continue to see the tuition rise.
He also promises to allow students to go to college for free (aka the taxpayer pays) if they volunteer. The fact of the matter is that if Barack Obama simply got out of the Government education business, students would work, instead of volunteer, to pay for school, which would be better for the economy.
7) Nukes. If you disarm America, don't expect other Countries to all follow suit.
For those of you who think I didn't address enough, here are 20 questions for you:
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