Posted by
Mike Whipple on Sunday, September 28, 2008 3:00:00 PM
To the tune of Chain of Fools - Change, change chaaaaange. Change for fools. What is new under the sun?
Barrack The Sameol Bama talks about change, change and more change. But what is new about what he offers? Higher taxes? Been there done that. He still has not learned that tax revenues only go up when taxes are low enough to stimulate the economy. I guess he and most of his supporters are too young to remember Jimmy Carter. High tax rates, price controls, and all the things dear to a Democrat's heart were tried and failed miserably. Tax the "rich". Where have we heard that before? The richest 5% already pay 50% of the taxes. Raise the capital gains tax rates? See Jimmy Carter land above. One of the most economically debillitating things that you can do is increase the capital gains tax. People stop buying and selling. You have to let people make money in proportion to their risking of their capital or the ball stops rolling.
Now the $1,000 payment to every American looks new at first, but history is full of examples of buying votes. Remember the slogan "a chicken in every pot"? Well, I'm sure Obama and his young supporters don't remember it.
Nationalized health care? Wasn't that a Clinton failure?
Reform the political process? This from a man who cut his political teeth in the Chicago political machine. A man who is a top recipient of campign funds from Fannie Mae and Freddie Mac so that he would impede McCain's attempt to reign in the fiscal irresponsibiliy that could lead to a finacial crisis?
None of this is change. It is just more of the Sameol bama.