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Name:
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water_watcher
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Subject:
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And the Market...
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Date:
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2/28/2009 9:53:39 AM
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Yes markets correct ... 10% retracement is normal. 20% is considered a bear market in a recession. 50% is because of the view of economic policies of the future. Everything Obama is putting forth offers ZERO hope it will help the economy and then he is raising business and individual taxes which will not get businesses to invest to grow the economy and put people to work. While he thinks higher taxes increase government revenue, it does not. Lower taxes expand the economy and grows revenue.
Which is better ... 30% of $1,000 or 50% of $500. Aside from the obvious math ... the higher revenue also creates more jobs and adds additional revenue.
Obama's policies are anti capitalism and anti growth. His stimulus plan will not grow the economy and higher taxes to pay for it will just make it worse.
And please do not say he is ONLY raising taxes on families that make more than $250,000. That is bad enough, but if you buy electricity, oil, natural gas, etc, etc ... your taxes are going up no matter how much you make. He is raising income taxes above $250 .... but he is raising everyones taxes on energy and much more.
Lastly, if creating 600,000 new government jobs is so great for the economy, lets create 2 million, what the heck, lets create, 5 million or 10 million. No, creating a government job does NOTHING to stimulate the economy. All jobs created in government eventually need to be paid for by the private sector. So the more government jobs created, the more the private sector needs to grow to pay for them or the more they must be taxed.
Less government, means less tax burden for all .... then the stock market would sore. If Obama wanted to really stimulate the economy, he would announce he is cutting 500,000 government jobs and lowering business taxes to incent them to grow. That would reduce government spending while growing tax revenues as the private sector expands.
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