Obama’s plan:

1. Raise taxes on any small business which nets more than $250K. Unfortunately, this encompasses about 99% of small businesses, and will force them to lay off employees. If each small business lays off just one employee, that will mean about 5,000,000 will be thrown out of work immediately by the Obama plan.

2. Raise capital gain taxes. This will cripple the stock market, and cause stock prices to dive by at least as big a percentage as taxes are raised. When Reagan cut these taxes, the market rose by 40%: so increasing them could in time cause the market to decline by this same amount.

3. Require health insurers to cover preexisting conditions. This will immediately double the cost of health insurance (we know this because we have data on state “assigned risk” plans which now cover preexisting conditions, and whose cost is about double that of employer plans) and cause virtually all employers to drop health insurance benefits for their employees. This will cause a national healthcare crisis, where nobody can afford healthcare, and doctors stop accepting insurance assignment and demand payment in advance.

4. Prohibit drilling for oil anywhere. As a result, the airline industry will be destroyed, the auto industry will shut down, and transportation costs will increase by double digits every year: leading to double-digit inflation in virtually every class of goods. Because oil is used as a raw material for many things besides gasoline, clothing, medicine, virtually all household chemicals, pesticides, etc. will become extremely scarce and prices will skyrocket.
Cities will be overrun by rats and roaches, and the suburbs will starve to death because of a shortage of horse-drawn carriages to bring goods to market. Computers will be useless because there will only be electricity for 6 hours/day. People will die of undernourishment because, without power, there will be no way to refrigerate meat and fresh vegetables.

Now that’s change!!!

landlines on October 14, 2008 at 1:51 AM