SHOCKER! President Obama To Tax "Rich" And End War In Iraq

As if any of this is a surprise, President Obama is set unveil the first federal budget of his presidency. That budget will include, shock of all shocks, tax increases and "winding down" the War Against Islamofacist Terror in the Iraq theatre.
And, as noted in an earlier post, President Obama will allow the tax cuts congress approved in 2001 and then President Bush signed to expire.
So, not only will the president let the tax cuts expire, but add more of a tax burden to those that the tax cuts helped.
BRILLIANT!
One of the ways that President Obama wants to bring down the $1,000,000,000,000 deficit is by eliminating waste and inefficiency in government.
Good luck with that one, Barack!
Since congress passed the so-called economic "stimulus" bill, it will be chock-full of waste and inefficiency because much of the funding is for federally approved programs. And we all know how great those programs are run.
Tomorrow, President Obama will host-I kid you not-a "summit" on "fiscal responsibility" with a select group of business and political leaders.
Now, funding a so-called economic "stimulus" plan that is nothing more than putting a Democrat wish list under the guise of economic "catastrophe" is not exactly my idea of fiscal responsibility.
Nor is the potential of another slew of federal dollars to "bailout/rescue" banks and American automakers that are on the brink of Chapter 11 bankruptcy protection. Not to mention a bailout of many American homeowners that should have never bought a home in the first place.
Can anyone, I mean anyone, really tell the public that there will not be fraud in these federal government schemes? Can anyone continue to justify the federal government handing more money to banks that have failed to account for what they did with $350,000,000 already doled out? Or the federal government bailing out American automakers that have had a two-fold problem? The first problem is that the American automakers are building cars that the American consumer does not want. And secondly because of federal meddling and bureaucracy that stifles potential innovation.
But, lets zero in on the two highlights of the Obama administration trying to tame an out of control deficit.
Taxes.
In another one of those Democrat innovations on how to raise taxes, it appears that the Obama administration is going to tax the investment income of hedge fund managers. That means that it would no longer be under capital gains taxes, which are currently at 15%. Making it regular income would more than likely put those in the highest tax bracket, 35%.
Since many hedge fund managers are Democrats and or allied with Democrats, I do not see this as a good thing. And, neither should those hedge fund managers.
Coupled with letting the 2001 Bush tax cuts lapse and go back to 2000 levels, that means that those who would be likely to begin a business, take the risks that come with starting a business will take a pass. They will be busy working to pay a lot in taxes.
But, the myth that the cost of the War Against Islamofacist Terror is the cause of all the deficit mess will be put to the test.
By cutting forces in Iraq, putting some but not all, in Afghanistan, we are supposed to save a lot of money.
True, because the Obama administration is not just transferring all troops from one war zone to another, some will come home.
But, the need to replace weaponry that has been lost in both the Afghanistan and Iraq theatres will be high priority.
Except, not for the Obama administration.
Another real cost will be if there is another, and yes that word, catastrophic, terrorist attack. If that happens and because of cost-cutting at the Defense department and or Homeland Security, how would the Obama administration like to explain that?
While so many Americans bought in to the "Hope and Change" feel-goodism of the Obama candidacy, the Obama presidency has been nothing but Doom and Gloom. And the more that President Obama talks about the real economic pain that we all feel, by not discussing the reality that we will come out better on the other side means that the reality of the Obama administration is "Hype and the Same".
And, right from the Democrat handbook, throw in as much class warfare as possible and it is a recipe for disaster.
But, don't worry.
All we are going to do is tax those eeeevvviiiiilllll "rich" people and "wind down" our war in the Iraq theatre.
And all will be well and we can all sing Kumbaya.
Sorry, I just do not think this road is a good one. We tried it once with President Franklin Roosevelt and it took a war to get us out of that economic disaster. I do not think that a President Obama has the stomach for another war of that kind of dimension to get out from under this economy, the "worst" since, oh well, World War II.
Hype and the Same, baby! Hype and the Same!