You think the economy is bad now? Make no mistake: It can get worse with an Obama presidency and Democrat congress.
In brief, the main problem we face today is not economic, but political. Sound economists are in substantial agreement concerning what out to be done. Practically all government attempts to redistribute wealth and income tend to smother productive incentives and lead toward general impoverishment…More and more people are becoming aware that government has nothing to give them without first taking it away from somebody else–or from themselves. Increased handouts to selected groups mean merely increased taxes, or increased deficits and increased inflation. And inflation, in the end, misdirects and disorganizes production.–Henry Hazlitt
(Click article link below for more details:)
Stocks Pay Price of Coming Tax Increases
The following is a small excerpt from the article:
Presidents don’t cut taxes or raise taxes. They sign the bills sent to them by Congress.
Pelosi and Reid both voted against the tax cuts of 2001 and 2003. We know where they stand. Every Democrat in the House and Senate has voted repeatedly for higher taxes since that party became the majority in January 2007, and House Ways and Means Chairman Charlie Rangel has unveiled his “mother of all tax hikes” to increase taxes by $38 billion over 10 years.
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The Obama tax plan will reduce the value of the stock market and your 401(k) by 6%. The House Democrat plan will drop the market by 16%. Remember, Obama cannot impose his tax plan — he has to sign what Congress sends him, so Congress’ tax plans are more important than Obama’s campaign speeches.
If Republicans won the House and Senate and McCain’s tax plans were enacted, the market and your 401(k) would increase by 46%. And if you pass the McCain plan and add ATR’s abolition of the capital gains and dividends tax, the market and your 401(k) would increase by 58%.
Check out the following pic!
HOW TO LOSE YOUR WAY IN 100 HOURS

http://suitablyflip.blogs.com/photos/uncategorized/100hours3_1.jpg
Filed under: ECONOMY, McCain, Obama, Politics, Sarah Palin, women | Tagged: Barack Obama, Election 2008, Obama and Congress, Obama and Economy, Presidential politics, Sarah Palin, Saving Our Economy What's Next, Undecided voters | 1 Comment »


