President Obama reminds me of the fellow who's off to save the world while he ignores the disaster in his own backyard. Instead of focusing on the urgent problems facing the country – the credit crisis and the collapse of the housing market – he's diverting scarce resources and attention to solving health care, reforming education, and stopping global climate change. Worse, his efforts to tackle these intractable issues involve fiscal policies that exacerbate the current financial crisis. He is not only driving the deficit up to unsustainable heights, his policies will amount to a huge tax on all Americans.
President Obama claims he's only going to raise taxes on the wealthiest Americans. But even if his tax-the-rich scheme didn't depress investment and slow growth – which it will – there are other ways government policies, in effect, tax individuals. Government also imposes tax increases indirectly on individuals through policies that encourage businesses to raise prices paid by everyone.
President Obama claims he's only going to raise taxes on the wealthiest Americans. But even if his tax-the-rich scheme didn't depress investment and slow growth – which it will – there are other ways government policies, in effect, tax individuals. Government also imposes tax increases indirectly on individuals through policies that encourage businesses to raise prices paid by everyone.
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