Wednesday, September 14, 2011

Steve Peters Commentary - #3243 - Obama's Jobs Plan: He Should Have Stayed on Vacation - Forbes (2) Swing Voters Recoil from Unions and Obama - Real Clear Politics (2) Swing Voters Recoil from Unions and Obama - Real Clear Politics (3) Higher Taxes on Rich Won't Increase Revenues - Investors.com

Back from a vacation that, with the economy’s health in mind, was cut well too short, our President has returned energized, ready once again to inflict ideology on the economy. Ever certain of his transformative skills, the President continues to miss the essential truth known to many of us, but totally lost on the political class. Specifically, Washington can’t create jobs, but it certainly can destroy them. Lest we forget, our federal government has no resources. So while it can tax and borrow to pay for make-work programs, private production taxed by the government is what creates even the wasteful jobs that politicians take credit for. Also not considered is the unseen; as in how many more jobs would be created if monies confiscated were left in the private sector where investment must tilt toward capital appreciation, rather than capital destruction. Read more........SP: Obama said his $800 BILLION Dollar stimulus package would created jobs, when it did not, Obama then said government does not create jobs. Now he wants government to double down and spend $447 BILLION Dollars(estimate growing every day) on his jobs plan to........create jobs? Even business, which do create jobs, only does so as a byproduct of producing a good or service for the market place. Small successful expanding businesses create about 70% of all the new jobs in this country. Obama does not realize that unless you let the producers keep what THEY think is a reasonable percent of their profit, because they are taking all the risk, you will get NOTHING from them. Unless Obama can come up with a new way to force business to create jobs, they will remain on strike until he is removed from office by the voters in 2012.


Swing Voters Recoil from Unions and Obama - Real Clear Politics -  Unions are all that protect America from "barbarians," Vice President Joe Biden said at a Labor Day rally in Cincinnati. But the only barbarian in evidence that day was Teamsters' President Jimmy Hoffa, who threatened to "take out" tea party critics of President Barack Obama's spending, albeit through the ballot box. Mr. Hoffa was a warmup speaker for the president at the Labor Day rally in Detroit. Though he rarely misses an opportunity to lecture others on civility, Mr. Obama had no comment on Mr. Hoffa's remarkable incivility. And though the president didn't adopt Mr. Hoffa's threatening tone, he did imply his critics are unpatriotic. A crowd that Detroit police estimated at 13,000 responded warmly to Mr. Obama. But when Candidate Obama spoke there in 2008, more than 30,000 came to hear him. Read more........

Higher Taxes on Rich Won't Increase Revenues - Investors.com - In last week's campaign speech disguised as an address to Congress, President Obama said, "Warren Buffett pays a lower tax rate than his secretary — an outrage he has asked us to fix."  Writing recently in The New York Times, the famed chairman of Berkshire Hathaway complained that his federal income tax last year was "only 17.4% of my taxable income" — less than $7 million on a taxable income of about $40 million.  Buffett claimed that, like himself, other "mega-rich pay income taxes at a rate of 15% on most of their earnings," but that is not at all common. The average income-tax rate of those earning between $1 million and $10 million was 29.5% in 2009.  Read more........

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