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Obama Mocks Cutting Taxes On Employers

From an amused Associated Press:

Obama slams GOP over tax and spending cut plans

By Mark S. Smith
Tuesday, October 4, 2010

Intending to talk about colleges and worker training, President Obama on Monday suddenly found himself in a spirited election-year debate with a business advisory group about whose tax cuts should be extended and for how long.

Is there no place that is safe for our leader?

At a meeting of the President’s Economic Recovery Advisory Board, Harvard University economist Martin Feldstein pressed Obama to keep all the Bush-era tax cuts, not just the middle-class cuts the president wants to extend.

"That would give a boost to confidence," Feldstein declared. Security and Exchange Commission Chairman William Donaldson added that an extension would allay business and consumer uncertainty.

Obama replied that his stand would benefit 98 percent of American taxpayers. "You’d think [that] would provide some level of certainty," he said.

Obama also reiterated his view that breaks for top-income tax brackets would do little to boost the recovery, because the wealthy are not holding off buying flat-screen TVs and other big-ticket purchases for lack of a tax cut. Plus, he said, those cuts are unaffordable.

"If we were going to spend $700 billion, it seems it would be wiser having that $700 billion going to folks who would spend that money right away," he said.

Obama dismissed the notion that the well-off – he included himself – would simply "take our ball and go home" if they did not continue to get a big tax cut

Former Federal Reserve chairman Paul Volcker, who heads the advisory group, backed up Obama. "I want to assure you that my psychology will not be affected," he declared amid laughter

Laugh, clowns, laugh.

But the last we checked, neither Mr. Obama nor Mr. Volcker has ever run a business, created a private sector (that is, real) job, or met a payroll. Their "psychology" matters not one damn whit.

This article was posted by Steve on Tuesday, October 5th, 2010. Comments are currently closed.

15 Responses to “Obama Mocks Cutting Taxes On Employers”

  1. Petronius says:

    Who are these 2% that Nerobama and Paul Volcker snicker about, these evil people, “the rich”?

    Pretty soon, we’ll all be “the rich.”

    In a few years, after inflation kicks in, everybody will be in the $250,000 tax bracket.

    $250,000 will be chump change. $250,000 will be walking-around money for zombies. $250,000 will buy you a small frappuccino at Starbucks (espresso, whipped cream, and brownie chips, extra charge).

    Shops like Starbucks will post their prices on a chalkboard, where the prices will be updated two or three times daily.

    Current spot prices :
    • gold $1338.10 (record high)
    • silver $22.65 (break-out over 30-year high)
    • US dollar-Swiss franc 0.9661 (record high for Swiss franc)

    Time to wake up and smell the frappuccino, America. Time to send home the clowns.

    • AcornsRNutz says:

      “Who are these 2% that Nerobama and Paul Volcker snicker about, these evil people, “the rich”?

      Pretty soon, we’ll all be “the rich.” ”

      Interesting point. I don’t believe hitler came out of thin air and built death camps either. It’s always incremental, the “yeah, its just those guys, not us” until those guys become the us over time. I am not saying obama plans to start gassing people by the train load, but evil always plays this same game, no matter what nefarious end is planned.

  2. proreason says:

    “Mr. Obama really is an economic ignoramus.”

    Probably so, but it isn’t ignorance that drives him.

    Anybody who assumes that he is trying to help the economy is making a big mistake. A good economy hurts his agenda. He certainly is stupid by the standards of past presidents, but he knows that for sure.

    And he isn’t going to allow anything to get in the way of his agenda. He has a mission after all. And the only role the economy plays in that mission is to raise up the people in anger against free enterprise.

  3. JS says:

    GAH! How many times do these idiots in charge needs this to be told to them… YOU CANNOT SPEND YOUR WAY TO PROSPERITY. Having government spend or having government let lower income earners keep more of their money does not grow an economy. Productivity grows an economy. Business owners need capital to expand their business to hire more people, or buy machines, to increase productivity which in the end increases wealth.

    You cannot love employees and hate employers. No person making 20-50k a year starts a business they are employed by them. Punishing the formation of capital hurts business and in the end hurts the people they employ. The evil rich will take their ball and go home in the form of not investing their money since after the punishing taxes the reward does not equal the risk.

    God, this President is the most stupid man to run this country since Carter.

    • Petronius says:

      “Punishing the formation of capital hurts business and in the end hurts the people they employ.”

      Yes. There are limits to what the government can do. But at a minimum it should do no harm.

      The current recession results from the destruction of capital, particularly in the housing and financial sectors, which followed from the subprime meltdown. The housing boom and bust occurred as a result of Liberal policies of easy money and cheap credit that were aimed at helping subprime buyers (Liberal constituents). That problem will not be solved by more easy money and more cheap credit.

      The Liberal policies of deficit spending, tax increases, transfer payments, and punishment of businesses (Obamacare, cap and trade, regulatory overkill, moratorium on oil drilling, cancellation of the space program, confiscation of GM and Chrysler assets, closing Chrysler dealerships, shakedown of BP, terrorizing AIG execs, etc., etc.) do not address the underlying problem of capital formation, economic growth, and job creation. Instead, they actually make the problem worse because they hinder saving and investment (risk-taking). And policies of stimulus spending through debt creation are counterproductive when what is needed is savings and debt reduction.

      If the regime genuinely wanted to do something constructive (which I doubt), they would make a permanent cut in marginal tax rates. They might also cut payroll taxes, which would reduce labor costs and encourage hiring by businesses, while also enabling working people to get out of debt. There are all kinds of tax cuts that might be attempted with immediate, positive results, provided that the cuts were permanent. But for ideological reasons that will never happen with this regime.

      Instead, we now have the added problem of the doubtful creditworthiness of the U.S. government, and looming inflation spurred by massive deficit spending, Fed QE, easy money, and cheap credit.

      For these reasons, and for many other reasons, Nerobama is even worse than Carter.

    • proreason says:

      Carter was misguided and clueless.

      Obama is deliberately sabotaging the economy. Without that, he knows he won’t be able to achieve the re-distribution, socialism and class leveling that he thinks he was put on earth to implement. It’s what he meant by “change you can believe in”. He is absolutely a true believer, and criminally delusional.

  4. proreason says:

    Is there ANY topic that this delusional narcissist agrees with mainstream Americans, or rather, normal Americans.

    Religion, the economy, foreign affairs, spending, taxation, immigration policy, race, abortion, the constitution, American history, Terrorism, national security, job creation, education, the budget, the deficit, what Bush did, size of government, states rights, health care, business. The list seems endless.

    The only thing I can think of that we seem to agree about is marriage……and I think he’s lying about his position on that.

    It’s really the most extraordinary thing. If you did a survey to find a single person that you disagreed with about EVERYTHING, you would have to talk to thousands to find one. And he’s the president of the country I live in.

    • Liberals Demise says:

      Hey pro?
      The guy he sees in the mirror loves him.

    • Rusty Shackleford says:

      Actually, LD, I think it’s the other way around because at his very core is a self-loathing individual who was abandoned by every figure in his life who should have held him close. Thus begins the classic tale of the narcissist. Being alone a lot, he developed his own ideas about things, but only sort of. In his formative years, those years where most of us are big on picking heroes and having certain people we idolize, the people he imprinted on were angry, self-destructive loathsome creatures and he picked up on that and his personality incorporates same. But by being alone the survival mechanism is to “be your own best friend” and a certain contempt for others. That contempt can explode into full blown narcissism if left unchecked and without challenges and hurdles to overcome and yes, even failure to make one realize they aren’t perfect.

      But at the same time, he has learned from perhaps watching a lot of TV, like a lot of lonesome people do and picked up on the plasticine patina of those characters who appear brave and strong. So, when the fawning media are agog at his well-spoken and “decisive” manner, they are in love with an act. He is not decisive, he merely only knows how to appear decisive because he’s seen it on TV.

      I’ve long wanted to say it but he’s just a copy of every bad actor I’ve ever seen on TV. He imagines himself a leader so he acts like a leader. Key word, “act”. But it’s all veneer. Underneath there is not one single leader quality about him and that’s what the rest of us all see. He cannot distinguish the difference. I remember the line in “Mommie Dearest” when the adopted Christina yells at Joan Crawford “Don’t you dare act! Don’t you act for me!” in reference to Joan giving a performance to her adopted (and abused) daughter as in a movie scene.

      This is what you get from Obama. But he certainly cannot emote even the way Crawford did on-screen nor is he familiar with “the method”. He has nothing from his emotional center from which to draw. All that’s there is anger, hatred and his resentment over being abandoned. He is a seriously broken human being and for that I pity him. But he is also an adult and the president and therefore he is responsible for his own actions or inactions. It’s all him…and he stinks. And when he looks in the mirror, he knows it, or rather, he sees someone he doesn’t like and thus, puts up a false front…lives a lie.

    • wardmama4 says:

      Point on Rusty – but you have to add that he hates his whiteness and his blackness. The white parent instilled nothing but hatred for herself (These aren’t my people) and the blackness because his beloved father abandoned (as do a lot of black fathers) him. He never felt he belonged because his family was such – that he never would belong – always discontent with where they were, what they were doing and the people around them. And those kinds of people are also ripe for the picking for the extremists (be they psychopaths, pedophiles, gang leaders, cult leaders, etc) These are the people for whom nothing was ever good enough, never right enough and they are always looking for someone to make it all right.

      What Obama does not realize is that you can work through it – and most people do – and either way you can forge a worthwhile life. He doesn’t want to fix it – because his destiny, his dream, his reality is to make the probably false but alleged dreams of his worthless father real (remember Obama only was with his father once as a 10 year old – I doubt a man like BHO SR did much heart to heart talking to the baby Obama) passed onto him about how noble and aspiring BHO SR was – and this angry, bitter, emotionally wrecked, self-hating man truly believes that by destroying the US, he can make his (false) Daddy’s alleged dreams come true and he will be remembered and idolized forever.

      The problem is that the majority of America aren’t for his agenda, see through his personal pathology and don’t give a crap about his fathers alleged ‘dreams’ – and I for one intend to stop him any way I can. If he really wants to be noble and live out his fathers alleged dreams – he just might want to go to Kenya. But then the majority of Americans of African ancestry have no desire what-so-ever do something like that – not even the ‘living the fathers dreams’ Obama.

      God Help America
      A Proud American Infidel

  5. pamypo says:

    “If we were going to spend $700 billion, it seems it would be wiser having that $700 billion going to folks who would spend that money right away,”

    I really though the money was going to reduce the defict–sounds to me he plans to give it away.

  6. Rusty Shackleford says:

    And Gaaawwwwd…..I just despise that little man when he calls us “folks”. UGH!

  7. untrainable says:

    And what does buying a big screen TV have to do with the economy? Sure, if this were Japan…

    And this “spend $700B” garbage. What we’re talking about is the government STEALING $700B from the people. That’s $700B more than they are already stealing from us. There are no tax cuts on the table. The only question is “Will taxes go up or stay at the same outrageous levels?”. With the man-boy-king in charge, is there really a question at all?

    • Rusty Shackleford says:

      You have to try to put yourself into the boy-king’s head and think of things in his patently childish way. His mind is not organized and he cannot understand things as a matter of scale. He can only understand things either by his own first-hand experience with buying things, or by how things affect him, personally. He thinks everyone (folks) think just like he does and he has constantly found himself to be 180 degrees out from the rest of the thinking world on that point. Yet he insists that “folks” will be just fine; Better in fact through his “spread-the-wealth” plans which, of course have their sinister traits about them.

      The nearly 800 billion, with a “b” dollars has largely vanished into unions, slush funds, re-election campaign funds, the likes of which we’ll hear about in years to come. No one really knows where it’s going because the foxes are guarding the hen house on that. As a bad gangster movie dialogue might go, “It’s da poifect setup baaws”.

      And the nation had to BORROW that money in order to spend it. Unwise, unethical, dangerous.

      But here we come to the apples/oranges portion of the problem. The way Obama thinks. On the one hand, he wanted to give away all this money. But on the other he has to somehow achieve the appearance of fiscal responsibility. Most people pretty much understand, even down to the third-grade level, that when you have 5 apples and you give 5 apples to Mary, you have no apples left. But in Obama-lama-ding-dong land, you then claim a crisis that is “untenable” and you need to re-direct income further to the people who don’t earn money, but receive alms instead (because evil whitey has been stealing from them since before he was born, you see) and thus, satisfy your loony left base by cutting spending on defense (The one thing the Constitution specifically mentions must be maintained) and other things.

      In the smaller scale, the governors and mayors “fight” to raise taxes to “feed the poor” and “shelter the homeless” but as I’m seeing now, with strapped state budgets, the things they cut are services like fire, police and schools. Then, of course, they blame the general populace for not willing to cough up more cash to keep them funded.

      The Romans used to play this game and it angered them as much as it does us. Only, their solution was more direct.

      Meanwhile, you have the slimy little turd of a president thinking he can just yank our chain and get us to respond the way he desires…but then there’s that pesky little 180 degree disconnect he has. So he’s the source of his own frustration because he will never admit he’s wrong on this. So wrong that it’s obvious to even the most casual observer. He’s a died-in-the-wool marxist/socialist and like all of them, they go to their graves thinking they were right all along, if only but…..

      So you see, it’s “We The People” he is against. ON EVERYTHING as has been mentioned. He believes a constitutional republic has “failed” and has “given a disproportionate amount of the wealth to the wrong people” and as Pro has so frequently pointed out, he believes his sole purpose in life is to right that wrong. And he’ll do it by any means at his disposal and he’s had many fellow marxists to help him out. Come November that will change. It must for if it doesn’t the people will become an unstoppable force and something new will happen for the first time in this nation.

    • proreason says:

      Classic Rusty.

      One of the best descriptions of the Moron’s strategy that I’ve ever read.

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