Bold Colors Blog

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Posts Tagged ‘Wall Street’

Victor Davis Hanson on why Wall Street is still worried

Posted by Liberty on March 12, 2009

Obamafusion

Just a few of the money lines:

“A redistributive economy in which government ensures an equality of result is Wall Street’s worst nightmare.”

And:

“Given the amount of debt the US is incurring (and the decades needed to pay it off), given the loose talk about the ‘rich’, and given the rumors about nationalization, investors are unsure whether the United States will remain a safe haven for investment, or even offer a climate for profit-making, since it would either be taxed to the point of seizure, or its beneficiaries would be culturally and socially demonized.”

And:

“There is much talk about Obama merely returning to the tax rates of the Clinton administration. But that is misleading for two unfortunate reasons: (1) Clinton did not tamper with FICA ceilings and other deductions in addition to the income tax hikes; (2) he had spending limits imposed by the post 1994-Congress, so at least his income tax increases led to a balanced budget. But Obama is not only raising taxes far higher in aggregate than did Clinton with the present trillion-some spending hikes, but ensuring that we will still end up with astronomical deficits. So we get the tax hikes of Clinton — but without the balanced budgets; and we get far higher deficits than under Bush — but sans the tax cuts.”

Posted in Arrogant politicians, Liberalism, Obama, Redistribution of wealth, Social engineering, Socialist economics, Taxes | Tagged: , , , , , , | Leave a Comment »