Sunday, September 18, 2011

As If Things Weren't Bad Enough

Here comes the President -- one more time: "Tax the Millionaires and Billionaires." Same ole, same ole.

Hidden in his tax-the-rich proposal is the virtual elimination of the current municipal bond market, because the Obama proposal essentially eliminates tax exempt interest on municipal bonds. That should help our cities and states!

If the Obama package could pass, it would nail the coffin shut on any future American economic progress. We would become the new Japan with no real prospect for economic growth in the next half century. (That may happen anyway. Obama has done a lot of damage already).

Fortunately, no one is listening to Obama anymore and new taxes are not in the cards with a Republican House of Representatives.

All Obama signifies with the package to be released on Monday is his irrelevance. He doesn't understand the private sector, he doesn't understand the dynamics of the entitlement programs, and he doesn't seem to care anyway.

He's still having a good time in the White House. There are still a lot of parties to attend and fun things to do. That the country is collapsing economically is not something that Obama seems much bothered about.

Nothing new there.

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