Obama to Spend Your Money Better than You
Posted By admin on January 8, 2009
Or at least, that’s what Obama seems to think.
The goal is to increase the money being spent in the economy by government stimulus – which may even be a good idea.
One could do this, of course, by lowering the money the government takes from its citizens, letting them decide how best to spend it. It could eliminate capital gains taxes and corporate taxes, have a holiday on Social Security and Medicare paycheck deductions, and really get the money flowing.
But Harvard’s Obama knows better than you, though. He’s going to decide how to spend it. All $1,000,000,000,000 of it!
He’s going to decide how to spend $200,000.00 a minute for the next year!
No doubt it will go for good causes. Just look at history… the World Bank and IMF have loaned huge amounts of money to countries around the world, for spending on things Obama likes – such as infrastructure. In almost all cases, the people got zero benefit for that, although a few well connected folks got rich and sent their money out of the country….
Which is what big American benefactors will probably do, because they know that ultimately a huge tax increase will be required to pay for this spending, or huge inflation will happen – either one a threat to those whose wealth is in the US in dollars.
But the rest of us… well, we’ll have to pay – either in huge taxes or huge inflation, or both. As will our kids. And their kids…
Obama is no longer the opaque candidate. He is now revealed as what he called a “progressive” today – meaning someone who knows better than his subjects how to spend their money, and knows he needs to spend a lot of it.
Obama summed up his attitude about individuality and capitalism a couple of days ago when, in reference to cures for the economy, he said, “Only government can fix this.” It’s government that got us into this mess.