Jobs, The Rich and The Future

Obama is already making excuses for the possibility of a failed administration. The inauguration of Obama has not occurred yet and he’s already down grading the expectations for his administration and what his economic team can do to help. “No matter who is elected, the next president will be tested” is the new line Obama is giving the public. So, this is where the Democratic Party insures that the same old politics continues in Washington. Every presidency is challenged and nothing is special about Obama but the fact the he thinks he’s special. A rank and file democrat can expect this betrayal from a Republican president but democrats usually like to look the other way when it’s their team.
Obama wants economic happiness for everybody and to redistribute the wealth of the rich using Bill Clinton tax cuts. If you make a ¼ of a million dollars per year you will be taxed more under an Obama presidency and not at an unfamiliar rate, which is why they tied it to Bill Clinton tax cut. Obama feels that his wealth should be taxed extra to make the life of a waitress, for example, happier. The big problem is that rich people can always keep their money safe while they ride out the Obama administration. In other words why should anyone invest in the economy of the United States during the four years Obama is president when they can just wait until he’s voted out of office.
The quantitative effect of rich people not investing their money in order to avoid the Obama tax can be devastating to a world economy let alone that of the United States. Obama is set to win this election and that is having an effect on the global economy. Investment in our economy has slowed because rich people do not want to finance Obama’s socialist reforms. Think about it for a second if an economic engine like the United States is going to tax the rich and the rich are fleeing the market then the effects will manifest itself in a lack of growth. The waitress Obama wants to enrich will get a tax break at the expense of her job.
During the Clinton administration there was a dot.com rush before there was a dot.com bust. The dot.com rush flooded the Clinton administration with revenue and was too enticing of a financial incentive for rich people to keep their money out of the economy. Obama is banking on the hopes that the world economy will turn around making the United States a profitable place to circulate ones money and watch it grow but no dot.com rush is going to save the day for an Obama administration. So go ahead and keep distracting yourselves with a “credit crisis” but if you really want to know where the money has gone or why it has dried up then look under the mattresses of the rich.
If the rich keep their money in their mattress then industry does not grow capitalism is slowed and jobs cannot be sustained. Is the only incentive to invest money in the U.S. economy because it’s the “biggest and richest?” Since financial institutions are currently holding on to their money around the world that last question must not be true. What has to happen is an explanation as to why it is still worth investing in the United States. Can a person still make money investing their riches into the U.S. economy? Why shouldn’t I hold on to my money until Obama is out of office and I can keep more of it for myself instead of giving it to Obama’s waitress?

I don’t think that McCain has any better ideas but I don’t usually expect much from the republican. I am still voting for Obama but his lack of creative solutions to our problems is scary.

Good luck Democrats

Rafael Buelna