Back Talk

He said he would raise the capital gains tax on investments, a strong validation of his ignorance of our economic history that indicates decreasing the capital gains tax boosts investment and helps the economy. He is the second coming of our worst President, Jimmy Carter, only magnified. Carter took the country’s economy into no-growth stagflation with high taxes, double digit unemployment figures, a national money shortage, and 20% interest. Carter came down hard on the oil companies because he thought they made too much money; Hussein is taking the same misguided path. Such actions will either increase the price of gas or create gas line shortages, or both, just as during the bad old Carter days. We haven’t seen anything yet. The most liberal Senator has declared he would reinstall the death tax and increase the income shutoff before taxpayers are free from social security tax. Democrats took control of both houses of congress two years ago and our economy has suffered. Unemployment was at all all-time low of 4.4 percent, inflation was only 2 percent, wage growth was double that at 4 percent, gasoline pump price was $2.10 nationally, and worker productivity up. Without a Republican president to veto the Democrat barrage of taxes, runaway entitlement spending, and restrictions upon business, we can expect the worst conditions the country has experienced in our lifetime.