The debt that the Federal Reserve—neither Federal,
nor a Reserve—is creating will destroy our nation, and the world, soon. The Fed’s
goal is to destroy the middle class. The rich and the poor have safety nets. No
one will help a free-falling middle class businessman, especially if he's a Republican, and a God-fearing man. Then, he is the government's enemy, and he must be destroyed.
How do you destroy society? First you must destroy the middle class. Rulers need poor serfs and wealthy friends; while an educated middle class is unnecessary. No dictator wants a powerful middle class, so they introduce economic policies that tax the middle class, and leave the wealthy and the poor unscathed. Dictators will increase the cost of college so that the wealthy and the poor may attend; however, the middle class will go bankrupt to keep their children at the same income level with which they're accustomed. Skyrocketing college costs are an unreasonable tax on the middle class, designed to destroy them gradually, like pruning.
When you examine the loss of middle class jobs, and the increased taxation of the middle class; it's a wonder that Middle Class America is still standing. Other pundits agree with me. I like this opinion about the plight of the American Middle Class.
New Scariest Job Chart Ever
http://www.wallstreetdaily.com/2013/05/10/inflation-jobs-bull-market/
Obamanomics is Betraying the Middle ClassHow do you destroy society? First you must destroy the middle class. Rulers need poor serfs and wealthy friends; while an educated middle class is unnecessary. No dictator wants a powerful middle class, so they introduce economic policies that tax the middle class, and leave the wealthy and the poor unscathed. Dictators will increase the cost of college so that the wealthy and the poor may attend; however, the middle class will go bankrupt to keep their children at the same income level with which they're accustomed. Skyrocketing college costs are an unreasonable tax on the middle class, designed to destroy them gradually, like pruning.
When you examine the loss of middle class jobs, and the increased taxation of the middle class; it's a wonder that Middle Class America is still standing. Other pundits agree with me. I like this opinion about the plight of the American Middle Class.
New Scariest Job Chart Ever
http://www.wallstreetdaily.com/2013/05/10/inflation-jobs-bull-market/
http://www.capitolhilldaily.com/2013/08/obamanomics-kills-middle-class/#more
Aug 2nd, 2013
by Floyd Brown
With Barack Obama barnstorming the country like it’s
October in a presidential election year, I thought we should take a closer look
at his latest statements (read: fantasies). The more I hear Obama talk, the
more nauseated I become – he’s either the dumbest person ever elevated to the
White House, or he’s purposefully trying to destroy the economy. Either way, he’s causing a tremendous amount
of damage to America.
His latest crusade is jobs, specifically well-paying
jobs for middle-class workers. Nice of him to notice that, since he was elected
president, middle-class incomes have dropped like a rock. The latest data shows
real income is now down a full 10%.
On top of our non-recovery, we have a mushrooming
regulatory morass. And we’re now poised to fall back into recession without
ever really recovering in the first place. Even the boot-licking Obama media is
honest enough to call what we’re seeing a “jobless recovery.”
But, ultimately, my question is: How you can have a
recovery without jobs?
“As any middle-class family will tell you, we’re not
there yet…”
Obama’s latest stop was at an Amazon.com warehouse
in Chattanooga, Tennessee. During his speech, Obama hawked a “grand bargain” on
the economy – corporate tax cuts, more infrastructure spending on grand
projects and don’t forget the end of sequestration spending cuts.
Allow me to dig a little deeper here. Obama travels
around the country moaning about how the middle class has been sledgehammered
by the current economy, and then he proceeds to pitch tax reform for big
business. As Rep. Paul Ryan opined, Obama is really pitching a “grand bargain
for big business.”
Obama is offering to cut the corporate tax rate from
35% to 28%. Yet, even this is deceptive because his proposal would actually
raise taxes by closing off numerous tax loop holes. You see, his prescription
for recovery is remarkably wrongheaded. Even socialists and Keynesians agree
that raising taxes when the economy is soft is simply bad policy.
It’s surprising that anyone would buy into Obama’s
supposed tax cut proposal. Clearly, our memories are way too short. It was just
eight months ago, on January 3, when Obama signed the fiscal cliff bill that
increased the top tax rate on individuals and small business owners to 39.6%.
That “grand bargain” is already taking $60 billion a year out of the pockets of
families and small business owners.
It’s also worth remembering that the president set
aside Obamacare’s employer mandate for companies with more than 50 employees –
but he refuses to suspend the mandate for everyone else. Essentially, Obama
gave big business yet another tax break while unfairly refusing the same for
small businesses and individuals.
“The cornerstone of what it means to be middle class
in America… A good job with good wages.”
There’s a curious – and major – impediment to income
growth in the Obama economy. You see, the majority of new jobs being created
are part-time and for low pay. For example, instead of hiring a food server for
40 hours a week, restaurants are hiring two part-time workers at 20 hours a
week. Economists agree – this is a result of the burden foisted on businesses
that hire full-time workers. So as much as Obama likes to talk about middle
class jobs that support families, his policies aren’t actually creating these
jobs.
And that’s not all that’s wrong, either. Take
infrastructure spending. There are good reasons why we need to improve and
upgrade this country. But the president continues to block projects such as the
Keystone pipeline (TransCanada Corp (TRP)), which would improve energy
independence. Instead, he wants to pour
more tax dollars into green-energy waste pits like Solyndra.
The transformation to a new, high-tech, high-wage
economy just can’t happen when government is squeezing every business for more
money while implementing a gazillion new regulations.
But the Obama team – divorced from reality in their
ivory towers – can’t see it. The same week Obama talked about the shortage of
jobs, his new EPA Director, Gina McCarthy, was busy ignoring the fact that EPA regulations
are actively killing jobs. McCarthy
pleaded with a crowd at Harvard Law School: “Can we stop talking about
environmental regulations killing jobs? Please, at least for today.”
We know how to get the economy moving: Shrink
government and cut taxes and regulation, and then the economy will flourish.
Earth to Obama… Get real.
Your eyes on the Hill,
Floyd BrownI like Peter Schiff too.
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