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 Opinion
Obama's next chant, "No we can't" A Column by the Editor web posted November 24, 2008 COLUMN – President-elect Barack Obama ran on a vacant promise of “Yes we can” that is quickly becoming “No we can’t”. Although history shows the election of a Democrat President has a negative impact on the stock market, never in history has one had such a devastating impact as the election of Barack Obama. That is because never before has such a left-wing, anti-capitalist, anti-business and industry candidate been elected to the White House. Though the media intentionally downplayed, if it played at all, statements made by Democrat then-candidate Obama promising to bankrupt the American coal industry and acknowledged that the effect of his plan would cause energy prices, mainly electricity, to go through the roof. Not a good way to “spark” the economy, hundreds of thousands out of work with tripled electric bills. The effect of this would also stem into other businesses that provide ancillary jobs such as trucking, rail, manufacturing to supply the industry with equipment and tools, and other private companies with other support related jobs. Obama has also made it clear to those paying attention the he intends to at least double capital gains taxes. There is a good way to kill investment in the ailing stock market. “Invest your money, and then we’ll take most of your profit to spread the wealth around,” is not going to get me into the market; it is going to get me out of it. Obama has promised to sign the labor union gift bill called the “Check Card” bill. This would mean that workers would no longer be allowed to cast a secret ballot, like the one they did for President, as to whether or not they want a union to take over. Wal-Mart will be their first target. Companies know, and the American automobile companies are evidence, that unions will bring a company to its knees by forcing unearned and unsustainable wages being paid for even the most menial jobs, and pay high wages to those who are not even working. The “Big 3” automakers are now asking for a bailout that will not create jobs, but prolong the death of American auto manufacturing giants and protect the unions with your money. Something Obama sees as brilliant. Of course, the media does not mention non-union automobile factories in America that are thriving in spite of tough economic times. That doesn’t fit the template. Obama has promised more government regulation on businesses across the board. Now there is a wonderful strategy to jump-start an ailing economy, more government intrusion and regulation. In other words, increased taxes and increased cost of doing business resulting in fewer jobs and higher prices. More great things to look forward to with Obama. Obama has promised universal healthcare, or commonly known as socialized medical care. And who will pay for this? The worker and the business sector through higher taxes. There again, as the growth of taxation is increased on businesses the fewer they will employ and the high costs of goods will be a result. That is not an opinion, that is an economic fact. Because of this medical care will be rationed. Don’t believe me; just ask Canada or the United Kingdom where the same has failed there. They come to the US for treatment because they don’t have to wait six months to a year, if they are allowed treatment at all, under their “national healthcare plans. “But Obama promised a tax cut to 95% of American’s!” Yes he did, and no he won’t. Almost half of the people in America do not pay any income taxes. There is no way to give a “tax cut” to someone that does not pay taxes. Furthermore, it is impossible to force 5% of the population to pay for the existence of the other 95% through a redistribution of wealth. Anyone who believed this lie is ignorant of the real world and how it works. Obama and the Democrats have also said they intend to let the Bush across the board tax cuts expire in 2010, thus raising taxes on everyone. That is a “tax cut”? I don’t think so. Maybe Obama, and his supporters, should read the parable “The goose that laid the golden egg”. Replace the goose with anyone who pays taxes. The sad reality is those who create the wealth of America, the worker, the businesses, the investors, and the financial sector are taking Obama at his word and until he turns away from his anti-American plans there will be no recovery in the economy. The government does not run the economy, people do, and they fear what Obama plans - the destruction of free markets. The world is watching too, just as they did with the banking frauds of Freddie Mac and Fannie Mae, Democrat run scams that, when revealed, brought the home loan industry to its knees and negatively affected world markets. But they were just trying to “spread the wealth around”. Will Barack Obama be able to implement his grand Marxist schemes into a reality for America? In a word, no. But that won’t stop him and the Democrats from trying. And as the battle for America’s freedom plays out in the Congress, it is the people that will be paying the price in fewer jobs, higher energy costs, and yes, higher taxes. Just as Jimmy Carter, Barack Obama will be a one-term Democrat presidential catastrophe. But America, hopefully, can survive. ©
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