Let's See the President's Plan

We need stop crying about the election and we need to end the political rhetoric. While Obama's election is certainly not a referendum on any topic, let's finally hold him accountable for his campaign promises. President Obama claims to have a plan to create jobs and pay down the national deficit by investing (that is, spending) in lots of stuff, cutting spending, and asking the wealthy to pay a little bit more. Okay, Mr. President, it's time to see the specifics of your plan: 1. How much do you want to raise taxes and on whom? Income, capital gains, or both? 2. How much additional revenue do you and your experts predict the increased tax rates will raise, and what are your assumptions? For example, are you assuming people will invest the same amount with higher capital gains tax rates? 3. According to your experts, will raising taxes increase or decrease the amount of private capital in the economy? How will this affect the number of private sector jobs? Is the increase/decrease in...(Read Full Post)