Obama is the main obstacle to economic growth | Human Events


WASHINGTON — No matter what President Obama said about the state of our union Tuesday night, the economy’s prognosis is not good.

Who says so? A hefty majority of the American people in a new Washington Post/ABC News poll that sought their opinion about the economy’s health. Roughly six in 10 said it was “not so good” or “poor.”

Six years into Obama’s painfully slow recovery, jobs are hard to come by in many parts of the country and wages remain flat. Hourly earnings actually fell last month, the U.S. Labor Department reported last week.

It’s gotten so bad that Obama’s own secretary of labor, Thomas Perez, publicly complained that the administration needed to get busy to “address the business of stubbornly low real wage growth.”

Life has gotten much worse under Obama’s presidency for many others we don’t hear much about on the nightly news. A recent study by the Southern Education Foundation said that for the first time in half a century, a majority (51 percent) of public school students are living beneath the poverty income line.

Forget those bogus employment rate numbers that the administration keeps pulling out of a hat. When you dig down deep into the state-by-state jobs data, nearly half the states, plus the District of Columbia, still have high jobless rates between 6 and 7.4 percent. We’re a long way from full employment in much of the country.

Which brings us to Obama’s incomprehensible solution to all of this: Raise taxes on business investors and other upper-income Americans, plus the banks and big financial institutions, who are, after all, employers and the people who provide the capital for new start-up businesses that in turn create the jobs.

He would boost the tax on capital gains and dividends to 28 percent, which would stymie job-creating investment in an economy that desperately needs a great deal more capital to bankroll new business expansion.

Obama also wants Congress to hike the tax rate on the estates of older, wealthier people when that tax is already at 40 percent.

In a nutshell, he’s proposing that we raise taxes on the job creators to the tune of $320 billion (about one-third of trillion dollars) in an anemic economy that isn’t out of the woods yet — not by a long shot.

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