Obama Gets a Second Term. What’s Next?

The Obama administration in the 2012 campaign produced “Life of Julia,” a cartoon depicting cradle-to-grave government programs to provide for Julia’s entire life. The film was the target of humor and ridicule by conservatives prior to the election. It isn’t funny now. There were Julia’s and Julius’s all over the country. Over half the people voted for O’ with expectations of being recipients of lifetime government largess. None asked the obvious question: Can we afford it? At the expense of the country’s economy, our Progressive government will try. It is imperative that the liberals continue supporting the 47%. After all, who would vote against Santa Claus?
O’ will continue to expect that people pay their “fair share” of taxes. He has yet to define “fair share.” Maybe someone in this group can help here. The top 20% of income earners, of which by definition I am a member, make about 50% of total income but pay 70% of total income taxes. The 47% identified by Romney pay no income tax at all and are dependent on the government teat and the other 53% to provide for their care. Is this fair? I think everyone should pay something for the privilege of living in the United States. We should of course help those who are in real need, but this economy was not designed to support perpetual freeloaders.
Taxes will increase. If we fall off the “fiscal cliff” taxes well revert to what they were before the Bush tax cuts. This is really not a bad idea. They will go up for everyone, and perhaps result in “fairness”, but not the kind O’ wants. O’ wants to raise $1.6 trillion by increasing taxes only for the “rich.” It won’t work. Increasing taxes for those making $250,000 a year will raise only $8 billion a year. That’s only about 7% of our current deficits. He will have to increase taxes on everyone, including the 47%. Tax increases on the “rich” will curtail economic growth. Small businesses in the group will hire fewer workers because of increased costs. Expect tax increases on all income levels. Obamacare is now here to stay. It contains 21 tax increases that will affect people of all incomes. Businesses are decreasing the number of full-time employees to less than 50 by cutting back or converting full timers to part time. As the old saying goes, hard times are a-comin’.
Regulations, in addition to taxes, will limit economic growth. Remember that O’ said during his campaign that he will put coal-fired companies out of business. Regulations against fossil fuels will cost $300 to $400 billion a year under the Clean Air Act and will be passed on to consumers. Ozone rules under the EPA will cost over $90 billion a year; studies have projected the cost as a trillion bucks a year and the destruction of 7.5 million jobs. Control of hydraulic fracturing will have an estimated cost of $1.4 to $1.6 billion annually. Tier 3 gas regulations will add 9 cents a gallon to gas at the pump. MACT boiler rules will force manufacturers overseas and destroy 800,000 jobs, reducing GDP by as much as $1.2 billion.
Debt is the major problem we face, and the only way out is economic growth, and growth is not likely with the current anticapitalism attitude of the Obama administration. There are also the unions to deal with. It is difficult to tell whether the unions are O’s toadies or vice versa. He needs their support. They recently scored a great victory by putting Hostess Brands completely out of business and destroying 18,500 jobs. Now they are working on McDonald’s.
Conservatives want to give every person the opportunity to increase the lot in their lives. Progressives merely want to provide the means to allow their subjects to exist in poverty. The Progressives seem to be winning.
What should the Republicans, who are nearly equally at fault for the current mess, do? If they successfully oppose O’s programs, O’ will blame Republicans for the coming economic disaster. Americans will believe him. They should give O’ everything he wants. Refrain from voting or simply vote “present” as O’ did hundreds of times. The recession is sure to worsen or turn into a depression. It will then be all O’s fault. He will own it. Even the 47% might turn against him when the redistributive teat goes dry. It could be disastrous, but it might be worth it. There was a saying during the Vietnam War: We had to destroy the village in order to save it. The same could be true for our economy

Posted by at November 30, 2012
Filed in category: Uncategorized,

Leave a Reply