Bring On the Market Vigilantes!

It seems that although the Democrats and liberals are wanting "change" from the current policies, the type of change they want is not anything new, it is everything that is old. Everything that both Obama and Clinton are prescribing has already been proposed by several other Democratic presidents and presidential candidates, but they are banging their heads against the wall thinking that they will get a different result. It is no exception on the economy. Obama is lambasting Bush for the so-called "tax cuts" to the wealthy and the country being on the brink of recession, but what is his prescription? Repeal the tax cuts on the wealthy and raise corporate taxes (the very class of persons who continuously invest their money in the economy) and giving breaks mostly to the poor and old (the very class of people who invest their money the least in the economy). And what about the middle class? I would like to know who Obama considers the "middle class".

What Obama and Clinton are prescribing to fix the economy will probably work in the short term, but eventually the their long-term ill effects will become pervasive and hard to fix because Americans will become used to having them around (think Social Security and Medicaid). And, as Greg pointed, eventually investors the world round will grow jittery that they are losing money on their investments and take their money elsewhere. And the ones that will be left holding the empty bag are Americans that wanted the world promised to them, but didn't want to face reality with paying for the world promised.

Chris of AZ @ Feb 28, 2008 13:45:04 PM