It aint just Joe the Plumber; chief executive officers have a lot of problems with Barack Obama’s socialism, too.
Obama’s “spread the wealth around” answer to plumber Joe Wurzelbacher about the fact that his buying a plumbing business would put him into Obama’s $200,000 class warfare zone is the quintessential definition of socialism. There literally could not be a better four-word definition. It should infuriate Joe.
“Small businesses” which can employ as many as 500 people and gross millions of dollars, employ 84% of American workers. And of those businesses that employ just ten or more workers, an overwhelming majority would fall under Obama’s federal income tax increase. 80% of the people who would their taxes increase significantly under Obama’s plan are small business owners. Partnerships, sole proprietors, S corporations–80 percent of the tax returns are in those brackets that Obama considers rich. Under Obama’s plan, a lot of ordinary workers will lose their jobs as employers struggle to retain profitability or even make payroll.
People are most concerned about jobs right now; maybe they should stop listening to mainstream media ideologues and start listening to the people who actually create jobs:
Chief Executive Magazine’s most recent polling of 751 CEOs shows that GOP presidential candidate John McCain is the preferred choice for CEOs. According to the poll, which is featured on the cover of Chief Executive’s most recent issue, by a four-to-one margin, CEOs support Senator John McCain over Senator Barack Obama. Moreover, 74 percent of the executives say they fear that an Obama presidency would be disastrous for the country.
“The stakes for this presidential election are higher than they’ve ever been in recent memory,” said Edward M. Kopko, CEO and Publisher of Chief Executive magazine. “We’ve been experiencing consecutive job losses for nine months now. There’s no doubt that reviving the job market will be a top priority for the incoming president. And job creating CEOs repeatedly tell us that McCain’s policies are far more conducive to a more positive employment environment than Obama’s.”
“Disastrous for the country.” That doesn’t sound good. And that’s about as optimistic as the CEO’s get about Barack Obama:
“I’m not terribly excited about McCain being president, but I’m sure that Obama, if elected, will have a negative impact on business and the economy,” said one CEO voicing his lack of enthusiasm for either candidate, but particularly Obama.
In expressing their rejection of Senator Obama, some CEOs who responded to the survey went as far as to say that “some of his programs would bankrupt the country within three years, if implemented.” In fact, the poll highlights that Obama’s tax policies, which scored the lowest grade in the poll, are particularly unpopular among CEOs.
“Bankrupt the country within three years.” There. You want socialism, you can have it. “Spread the wealth around” so that country itself is as broke as the defaulting homeowners and the defaulting mortgage houses we keep hearing about.
One thing is extremely important to understand: Obama’s health care plan is modeled on the Massachusetts plan. How are things going there? Well, in the three years of the program’s existence, the tiny state is now already facing cost overruns of over $400 million. Does that sound like a rousing success? Massachusetts is facing a projected 85% increase in its costs by 2009 – which should set up a serious red flag that such programs are MASSIVELY underfunded.
Barack Obama’s health care plan is estimated to cost $1.6 trillion in 10 years. But that doesn’t take into account the very sort of cost overruns and cost increases that are even now plaguing the very state that Obama is basing his own plan upon. What is going to happen to our economy given the extremely real likelihood that Obama’s massive national plan runs into similar issues? Do you believe our economy is strong enough to bear the brunt of these massive cost increases?
Did you like that $850 billion government bailout of the US economy? No? Then you probably won’t like Obama’s $845 billion bailout of the world, either.
Sen. Barack Obama, perhaps giving America a preview of priorities he would pursue if elected president, is rejoicing over the Senate committee passage of a plan that could end up costing taxpayers billions of dollars in an attempt to reduce poverty in other nations.
The bill, called the Global Poverty Act, is the type of legislation, “We can – and must – make … a priority,” said Obama, a co-sponsor.
Barack Obama also wants to push alternative energy whether the market wants it or not by dredging up yet another $150 billion from the great-great-great grandchildren of taxpayers while ignoring oil and nuclear power. He claims he is not opposed to these – now. But he consistently has been, along with Harry Reid and Nancy Pelosi, and his carefully-phrased distinctions guarantee we would see neither domestic oil or nuclear power during any administration of his. The problem is, alternative energy will not be able to even begin to make a dent in our energy demand for decades to come. Oil products constitute nearly 90% of our energy. And Obama’s “safety regulations” would ensure that the only alternative energy source that even could conceivably lessen our need for oil, gas, and coal – nuclear power – would be unable to even get through the permit process during an Obama presidency. Saying you “won’t take it off the table” is a far cry from supporting it, especially when you attack the candidate who supports it.
And Obama favors raising capital gains taxes, windfall profits taxes, death taxes, and significantly higher taxes for “the rich.” At a time when we desperately need investment – which is why the government has been pumping in so many billions – Barack Obama wants to create a powerful negative disincentive to invest in the economy. Everyone will ultimately pay more because of Obama’s tax plan as businesses pass their additional costs on to consumers through higher prices. Worse, as Obama finds his income tax base shrivel up, the politician who supported tax increases on those making just $42,000 a year will levy higher taxes on larger groups of tax payers. The percentage of tax payers in Obama’s “top 5%” have already shrunk by half due to the recent finacial meltdown. In short, Obama’s tax plan will fail.
By the way, that overwhelming 4-1 preference for McCain over Obama on handling the economy is nearly matched by a better than 3-1 preference for professional soldiers for McCain over Obama on handling our wars and our defense.
Tags: Barack Obama, capital gains, CEOs, Chief Executive Magazine, energy plan, gas, Global Poverty Act, health care, Joe the plumber, Massachusetts, nuclear, oil, small businesses, socialism, spread the wealth around, tax increase, windfall profits, Wurzelbacher
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