Stuff

Essentials

  • Activity

    October 2008
    S M T W T F S
    « Sep   Nov »
     1234
    567891011
    12131415161718
    19202122232425
    262728293031  
  • Thumbed Up Love

  • Save the Puppies

    teh puppyblender
  • Corporate

  • Remember

  • Archives

  • Categories

  • Meta

Greetings from Hyde Park

The Obama I (Don’t) Know – Forbes.com

Put otherwise, Obama’s vague calls for change that “you can believe in” are, to my thinking, wholly retrograde in their implications. At heart, he is an unreconstructed New Dealer who can see, and articulate, both sides on every question–but only as a prelude to championing the old corporatist agenda with a vengeance.

That program has three key components, which, taken together, can convert a shaky financial situation into a global depression. The first of these is his anti-free trade attitude that loomed so large in the primaries. But even Obama cannot repeal the principle of comparative advantage. Any efforts to scuttle NAFTA, deny fast-track approval to other agreements, or limit outsourcing will not be as dramatic as the Smoot-Hawley tariff. But combined, they would act as a depressant on general economic growth. Everyone would suffer.

Second, Obama is committed to strengthening unions by his endorsement of the Employer Free Choice Act, a misnamed statute that forces union recognition without elections and employment contracts through mandatory arbitration thereafter. That one-two punch could tie up the very small businesses that Obama seems determined to help. Tax relief won’t work for firms that won’t get formed because a labor fight is not in their initial budget.

And third, he is in favor of progressive individual taxes and high corporate taxes. It is as though the U.S. does not have to compete for labor and capital in global markets. My fear is that with his strong egalitarian bent, he has not internalized the lesson that high rates do not offset declining revenues.

Anyone who hasn’t got an OB IV hooked up to their cerebral cortex has to realize this thing is a goddamned disaster. And then you have Barney Frank saying shit like this….
It’s no longer figurative, it is literal; I am being warned, outright, to not dare attempt to grow my income, because if I do, I’ll get screwed.

Print Friendly, PDF & Email

There are 2 comments

Comments are closed.

Other Stuff

Search

Advertisment ad adsense adlogger