Posted by
James Burns on Wednesday, November 05, 2008 10:00:00 AM
On the day after the United States voted Barack Obama as president based on his change message and his economic theory of growing the economy from the bottom up. The truth is no change for the better will happen if his economic plans come to fruition.
See Barack Obama promises a tax break to 95% of Americans, this may come true. But at what cost? His plan also calls for tax increases on businesses. I don't believe just big business but all business. Small businesses will get hit just like big businesses, and they cannot afford that. These businesses are the nations life blood. We heard Obama's numbers go lower in the closing days of the campaign. Well within range of all small business owners.
These tax hikes will cost the 95% and this is how. When taxes get raised on the companies that provide our goods and services, their prices will go up. Inflation will go out of control. These companies are in business to make money, they will try to do that high taxes or not. So someone will pay. So the cost of the higher taxes will trickle down to us. State and local governments will be effected as well. These governments need companies to provide goods and services to them like us. So when they pay a higher price for those things they need, we the 95% will pay higher taxes to state and local governments due to these higher prices. So againObama's tax hikes trickle down to us again.
These increases in costs of goods and services will cost jobs. They will cost money. More money than the tax check promised by Obama to the 95% will be. So our paychecks will not go as far as they do today. The pay checks may even shrink due to the lack of wage increases due to the higher cost of doing business. Again the cost of higher taxes trickling down on us. No matter how you look at it economics always has a trickle down effect. The economy cannot be built from the ground up, because the ones with the money are the ones who operate the businesses. So their money or lack there of will trickle down no matter what. So America, you voted for "change we can believe in", not really, just "business as usual we can believe in."