Obama’s Hammer of Taxation and Sickle of Regulation

Look Under Obama’s Plan its a Rats Nest!

Real economic growth was greater in the nineteenth century without a central bank than it has been in the twentieth century with one.  Real economic growth in Hong Kong during the latter half of the twentieth century outstripped that of every other country in the entire world, and it had no central bank.

Any connection between central banking and economic performance must conclude that a central bank is harmful to economic growth.  Japan’s bank regulators and government officials have been trying to bring back the boom to get the economy moving again to no avail.

With the Obama administration’s new tax policies limiting the ability for investment capital to be reintroduced into the economy by those with the funds to do so, if you make over $250,000 a year, coupled with the Fed’s manipulation of the banking system to induce and facilitate the extension of credit will do nothing but prolong the depression of 2009.

Bring in further Government control of the Banking system through the purchase of preferred shares and common shares allowing quasi Nationalization of America’s banking system by complete idiots, Obama’s young 25 to 32 year old no-experience supporters, who will be tasked to giving economic direction and voting as share holders in the banking industry and you have a recipe for complete disaster. Obama’s regulator, Bernanke says this is NOT NATIONALIZATION, but what do you call a bank take over when a majority of voting shares are owned by the government – its called a take over, acquisition, merger.

Anyone who has ever run a business knows that it cannot be done successfully with government intervention at every turn.  Even without government the rules, taxes and reporting are so overwhelming that it is best to remain a mom and pop shop.  Why try to make more money out of your business when you will be clobbered by the Obama tax hammer, then hit with the Obama regulation sickle.

It is a sad day in America, to watch the contraction of businesses to stay profitable, the closing of more and more stores causing more and more unemployment, while the government gains a tighter grip on American freedom by the elected Marxist government.

On the brighter side a trillion dollars of government spending will be paid by our children and their children. Leaving them with more taxation to pay for the Obama programs, and they will never know the freedom we once had achieved and the prosperity we once knew. America has always been a nation averse to burdening our children until the rise of Marxism in America under Barrack Obama.