The Markets Don't Like Obama, But Economically Inexperienced Masses Do
one proposal to the next. But while the polls are reflecting Obama's steady hand, the markets haven't. In fact, they're getting worse by the day as Obama's lead widens.
Recently, Obama said he wants to expedite loans to small businesses, so he seems to have a clue that they produce much of the country's job growth. Yet his income-tax hike on upper brackets will hit vast numbers of small businesses - they'd face the highest rates they've seen in decades.
Overall, his plan includes some of the most lethal tax increases imaginable, including a jump in the capital-gains rate. He'd expand government spending massively, with everything from new public-works projects to increases in foreign aid to a surge in Afghanistan - plus hand out a token $500 welfare check that he calls a tax cut to everyone else.
From his days as a community activist, to his years in the Illinois Senate and now his brief time in the US Senate, he has shown little inclination to deviate from his party's tax-and-spend orthodoxy.
And if he governs like a liberal ideologue - with a belief that the government that works best is the one that's biggest and raises taxes the most - he won't even have to work hard to get his way.
An excellent article very much worth reading. Add to that the 74% of CEOs who think Obama would be "disastrous" and you've got a solid difference here: those who manage our infrastructure think Obama is irrational. Those who work in it and make no decisions of importance -- 95% of our people -- really like him and have no idea of the underlying issues.
And then there's this -- Barack Obama speaking about how he and ACORN want to force loans to the impoverished:
That was responsible for the current crisis in the loans industry.