Obama Stimulus II–The Sequel Is as Bad as the Original–Obama Versus JFK

Who will be judged the best Democratic President,

John F. Kennedy or Barack Hussein Obama II

My money is on JFK!  JFK understood the economics of taxation and revenues, and the economics of taxation and economic growth.  Obama is absolutely clueless as he clenches even tighter to his absolute devotion to Keynesian economics principles that have been proven time and time again and have failed every time they have been tried.

  • Obama’s Stimulus II is Proposing to raise taxes $467 Billion to pay for his Payback to Unions Plan by:
    • Raising the Taxes on those making over $200K per year, $250,000 for joint filers, including small business persons. ($424 Billion over 10 years)
    • Raising taxes on Oil Companies that the Oil Company will have to pass through to you every time you buy gasoline.  ($40 Billion over 10 years)
    • Raising taxes on manufacturers of Corporate Aircraft that will reduce their ability to rapidly depreciate certain business purchases.  This will increase the cost of their aircraft and drive demand, and jobs, down in this industry. ($3 billion over 10 years)

What did JFK Say about the impact of LOWERING, NOT RAISING taxes on the Economy?

Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not a reduced – flow of revenues to the federal government.”

– John F. Kennedy, Jan. 17, 1963, annual budget message to the Congress, fiscal year 1964

What did JFK Say about the impact of LOWERING, NOT RAISING taxes on the Federal Revenues?

“It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now … Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.”

– John F. Kennedy, Nov. 20, 1962, president’s news conference

What did JFK say about a the BEST WAY TO REDUCE Deficits?

“In today’s economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarges the federal deficit – why reducing taxes is the best way open to us to increase revenues.”

– John F. Kennedy, Jan. 21, 1963, annual message to the Congress: “The Economic Report Of The President”

What would be JFK’s advice to Obama today?

“It is no contradiction – the most important single thing we can do to stimulate investment in today’s economy is to raise consumption by major reduction of individual income tax rates.”

– John F. Kennedy, Jan. 21, 1963, annual message to the Congress: “The Economic Report Of The President”

It is sad that the American electorate was duped into voting for a President who did not have any experience in the private sector nor any real life business experience.  His textbook based, Keynesian economic philosophy has been historically proven wrong time and time again.  But, Keynesian economics promotes the Progressive Left’s agenda to create a Statist Society, so his is committed to it body and soul.  Even the words and stature of one of his supposed heroes, President John F. Kennedy, could not make Obama change his mind and start down a path to save this country.  JFK got it, Obama will never get it…

 The goals of Stimulus II are the same as Stimulus I:

  1. Transfer Money to Union Employees in order to increase Union contributions back to the Obama relection campaign.

  2. Transfer Money to Unions to make sure the Union infrastructure has the resources it needs to infect the 2012 election, tax-free!

  3. Save public sector jobs, teachers, firemen, and policemen in lieu of stimulating the private sector who eventually have to pay the salaries of these same teachers, firemen and policemen.

  4. Create AFL-CIO construction jobs for more “Shovel Ready” jobs.  This is another union payoff insure the Union/Democrats’ money laundering scheme is well oiled.

  5. KILL SOCIAL SECURITY:  Obama is lowering FICA taxes paid by employers and employers at a time when EVERYONE IN WASHINGTON is saying that SOCIAL SECURITY IS GOING BROKE!!!

  6. More Green Job Waste like the half a billion dollar boondoggle to Solyndra!

 

Call for Good Governance:

The Congress, Democrats and Republicans better step up and do the right thing rather than support another failure by this man-child President.

  • Eliminate Capital Gains.
  • Cut Corporate Tax Rates by 50%.
  • Cut Personal Income Tax Rates by 30%.
  • Work on Tax Reform to establish a flat tax with no loopholes, special deals to General Electric, etc…
  • Cut Business Regulations back to 2000 levels.
  • Open up all energy exploration.
  • Create a Balanced Budget Amendment and get it to the States for Ratification.
  • Create a new Federal Budget paradigm:
    • Federal Budgets do not include automatic 7-8% increases.  Every year the budget starts at the prior year level and spending or cut justifications start on that base.
    • Federal Budget is pegged at 2009 levels and then reduced by 1% per year until it is 15% or less of our GDP.
  • Enact Tort reform were liability limits on lawsuits are established, including punitive damages.  No law suits can be pursued on drug companies on drugs that have been approved by the FDA.  If not, what is the point of the FDA process?  End Class Action Lawsuits or limit the legal fees to a fair hourly billing plus expenses. 

This is not rocket science.  JFK got it!  Why can’t someone in Washington get through to the President that he will not only be a one term wonder but go down as the single largest failure of our great Republic.  My money is on Obama sticking to his failed Ideology!  Ignorance is bliss and he is very “BLISS FULL”.

RD Pierini

http://www.wnd.com/news/article.asp?article_id=39517#ixzz1Xma9lyP8

 http://www.washingtontimes.com/blog/inside-politics/2011/sep/12/fully-paid-just-not-yet/

http://online.wsj.com/article/SB10001424053111904353504576566802250477510.html?mod=WSJ_hp_LEFTTopStories

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