Bad Economic Policy

by Sal on February 21, 2009

in Economy,Politics

The stock market is down 10% since Obama’s inauguration.  The deficit has just been tripled by the stimulus.  So what is Obama’s plan?  He is proposing to balance the federal budget by raising taxes on both the wealthy and businesses, as well as cut funding to the military in Afganastan and Iraq. All of this to pay for Obama’s domestic priorities, including Universal Health Care.  Raising taxes on businesses and the wealthy during a recession?  Businesses and the wealthy are the ones who create jobs, and raising taxes on them will do nothing but continue to hurt the economy.  If he gets his way, expect the trends of the last month to continue.

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