The Obama Economic Plan

November/17/2012 16:58PM
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Let me give you two numbers. Eighty two billion and thirty billion.

Obama ran, and was reelected, on a platform to tax the richest Americans. He never said it would fix anything. And, the folks who voted for him, and this plan, never asked. Nor did most of the media. As he deals with the Fiscal Cliff, he strongly adheres to this plan and says he won’t compromise.

Back to the two numbers. The Obama tax plan to tax rich Americans, who can and should be willing to help the less fortunate, per Obama, will bring in $82 billion in new tax revenue a year. This is the most optimistic case, per the CBO. Granted, that’s a lot of money, and, when you always present it in ten year terms as Obama does, it’s really a lot of money. He rounds it up to a trillion.

Now, back to the $30 billion number. That’s what Governor Cuomo from New York has asked Obama for to cover the damage from SuperStorm Sandy. And, the new best friend of Obama, Chris Christie, hasn’t filed his request yet. It will be bigger than Cuomo’s, rest assured. So, the money from the big Obama economic plan will be mostly gone in one storm in one year. Next year it will be something else.

I hope this puts the Obama, “one trick pony” economic recovery plan in perspective.

Taxing the very wealthiest Americans, as you have heard him say hundreds of times, might cover the cost of one big natural disaster. That’s it, big plan. Now you’re just back facing the trillion dollar deficit and seeing less growth and higher unemployment from the plan that was supposed solve all of the nation’s economic woes.

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