Larry Kudlow put out an article in Fortune looking at the war that President Obama has essentially declared on the productive members of our society by substantially raising the taxes on the very people who do the majority if not all of the employing in the USA. How is this a long term winning strategy for the country? It’s not.
Kudlow even went so far as to say many of the liberal well-to-do’s may also have “buyer’s remorse” on account of their vote for Obama now that the reality of what that vote actually means. “Hope and Change” sounded nice in the campaign but the reality is Obama is delivering no hope for making employers actually want to grow (and thereby employ) and he is definitely changing things. The reality might be Obama is simply being empowered by a willing Democratic Congress but in any case I feel like I am watching a homicide on prosperity.
Then Fortune featured another article on how High Earners, but not rich people are going to get socked under Obama’s plan. The article calls this group HENRY’s – High Earners Not Rich Yet. As the article points out “They’re among America’s most productive, hard-working citizens: our doctors, attorneys, architects, and entrepreneurs, then owns and builders of cleaning companies, delis and security franchises.”
This can only be seen as a “grab as much as you can get in taxes and power while the gettin’s good” by the administration because clearly any one can understand that if you make life too taxing for the productive and employers out there they will simply not produce or employ to the level in which they are capable.
When I was in first grade I remember my teacher asking me where I would live when I got older and I distinctively remember saying “New Zealand” because I recalled just how far away it was on the map. How prescient would it be if I end up there someday?
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