Obama's retro budget
By J. Robert Smith, American Thinker
Our transformative president, Barack Obama, has loaded his 2011 budget proposal with a lot of trailblazing ideas - well, trailblazing for the 1930s. He's raising all sorts of taxes and cutting a few - a very few - no doubt to provide a fig leaf of cover when critics hang the bigger tax increases around his neck.
Ditto spending. While hiking government spending to unprecedented levels ($3.83 trillion), the president is offering to freeze or cut a relative handful of programs. That way, in the unabashed style of the accomplished scammer-politician, Mr. Obama can then make the case that his green eyeshades are greener than any Republican's.
According to Bloomberg.com, Mr. Obama and his band of retro-fashion New Dealers plan to increase taxes by the staggering sum of $1.9 trillion dollars over the next decade - on the rich and businesses, of course, and through various gimmicks and jiggering of tax laws, when necessary.
A recently self-proclaimed non-ideologue, Mr. Obama knows in his heart or hearts that sucking nearly $2 trillion dollars from the productive sector of the economy won't in any way adversely impact
1) investment;
2) capital formation;
3) business startups and expansion; and
4) job creation.
And more onerous business regulations and red tape can't possibly serve as a dragline in getting the economy up and running.
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