Dick Morris was an advisor to the Bill Clinton administration after Clinton was elected president in 1992. Morris was Campaign manager for Clinton’s successful bid for re-election in 1996.President Lyndon Johnson's administration was known for his War on Poverty. President Obama's will become notable for his War on Prosperity.
Those who earn more than $200,000 pay almost 60 percent of America's income taxes and account for a third of its total disposable income.
Two wage-earners in a household can often earn more than $200,000. They are not rich “coupon clippers” - they bring home pay checks.
If these spenders and investors are hunkering down, waiting for the revenuers to beat down their doors, their confidence will be anything but robust. Their spending will drop; they'll be unlikely to invest (especially with an increase in capital gains tax).
Obama must also realize that his stimulus package, with its massive growth of government, is going to kindle huge inflation in coming years
He must know, but not care.
Here is a president who would rather redistribute income than create wealth. He thinks it more important to grow government than to fight inflation. He believes that it is crucial to expand health care to the young and middle aged, even if it means cutting it back for the elderly. He's more committed to effecting "broad change" in his first term than he is to winning a second one.
We have a president, in short, who will stand on his principles. Unfortunately, they're bad ones.
A picture of my cave
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