Posted By:
CoreyRS.hanusWhile I have tried to refrain from interjecting my political views on a baseball chat board, I can no longer restrain myself.
While there are a plethora of important issues that face our society, on one of particular importance, the economy, Obama is trying to rewrite economic theory. In what way? I am aware of no economist who will opine that a tax increase in terrible economic times will accomplish anything except make matters worse. All the more so when the tax increase is targeted at the sector of society that takes the majority of the risks and provides the majority of the capital. This is economic reality, period, and it runs head on into the conventional liberal wisdom that it is okay to sock it to the wealthy, because doing so will not impact their decisions on how much risk to take, new ventures to start or indeed whether to take their business offshore.
In regard to Joe Biden's lament that it is unpatriotic for companies to take their business offshore, that remark in my view is the single most stupid comment I have heard on the campaign trail in my lifetime. So Joe, what do you propose, we solve our economic problems by mass mailing of American flags to corporate America? Capitalism works through economic incentive. Take it away, and you depress economic activity. It has been reported that the USA has the second highest corporate tax rate in the world. So what does Obama want to do to solve our economic problems -- increase it!! His election, coupled with Democratic control of the House and Senate, can be described as nothing less than economic armageddon. And as to Joe Biden, well Joe, the last system that premised its economic principles on patriotism was something called communism.