Monday, September 20, 2010

Obama's Keynesian Juggernaut

My takeaway from President Obama's much heralded (if you pay attention to CNBC) economic town hall meeting with a live audience on CNBC is this; The Obama administration wishes to raise taxes on individuals making over $250,000, tax capital gains at least an additional 5%, and capture additional taxes through financial regulation of Wall Street, because they are going to continue to spend massive amounts on new and existing government programs.  If the president's visit was intended to deflate a growing sense of unease or that his administration is anti-business, I thing Mr. Obama sorely missed the mark.  Once again, a golden opportunity to reposition himself as a defender of free market principles was squandered.

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