Fox Opinion Article - Does President Obama Understand Economics?

Discussion in 'The Fire For Effect and Totally Politically Incorr' started by ponycar17, Dec 7, 2010.

  1. ponycar17

    ponycar17 Active Member

    Joined:
    Feb 17, 2005
    Messages:
    5,053
    Location:
    South Carolina
    From http://www.foxnews.com/opinion/2010/12/07/does-president-obama-understand-economics/#

    This has been a nagging question for me for the last two years. Obama either doesn't fundamentally understand ANYTHING about economics, through theory or historical precedent... OR he's attempting to destroy the US economy.

    Which is it? It's hard for me to fathom how people with the educational background of our current government cannot or will not understand simple economics and well-founded history... Do they think that the Keynesian economic model just hasn't been implemented correctly yet, or do they KNOW that it delays recovery and destroys economies? :mad:
  2. Marlin T

    Marlin T Active Member

    Joined:
    Jul 8, 2005
    Messages:
    7,879
    Location:
    New Mexico
    Beings that he has never ran anything even the size of a one employee business, it isn't a big surprise that he doesn't understand.

    Then on the flip side, maybe he really does understand Alinski's rules. After all he did teach that in Chicago.
  3. Old Grump

    Old Grump New Member

    Joined:
    Feb 21, 2010
    Messages:
    2,320
    Location:
    Little hut in the woods near Blue River Wisconsin
    Nuff said
  4. Gun Geezer

    Gun Geezer Well-Known Member

    Joined:
    Oct 5, 2009
    Messages:
    1,995
    Location:
    Central Florida
    I think I'm inclined to go with this!:confused:
  5. obxned

    obxned New Member

    Joined:
    Mar 4, 2007
    Messages:
    1,342
    Obama hates our way of life and is doing everything he can to destroy us.
  6. armedandsafe

    armedandsafe Guest

    This is the Bingo:

    Pops
  7. ponycar17

    ponycar17 Active Member

    Joined:
    Feb 17, 2005
    Messages:
    5,053
    Location:
    South Carolina
    Oh, you're dirty... I'm going to have to repost the last response here too. ;):D

    It is Pops! ;) Absolutely!

    The wealthy take money and produce more wealth through job creation and much-needed capital investment. We saw this in 2000-2007 when the wealthiest earners got respectable tax breaks under Bush but increased their overall responsibility of total tax take. The top 5% of earners went from a total tax responsibility for the nation of 56.47% in 2000 to 60.63% in 2007. The top 1% of earners saw their tax responsibility increase from 37.42% in 2000 to 40.42% in 2007. From http://www.ntu.org/tax-basics/who-pays-income-taxes.html

    The wealthy know how to take money and produce a return on investment (ROI). Giving the equivalent amount of money as a distribution to the other 99% of the country will not produce a noticeable ROI alone. Increasing taxes on the wealthy will NOT lessen the burden on the other 95-99% of the population without decreasing the total tax take every year. That decrease will necessitate knee-jerk tax increases which will compound the problem even further.

    As Mr. Lott suggests, there can't just be a demand-side or a supply-side effect. There has to be a push-pull relationship. The Bush cuts of 2001 produced that effect by creating a supply-side stimulus in the form of lower-to-middle class tax rebates and rate reductions along with demand-side stimulus tax rate reductions simultaneously. It should be noted that the first measure of recession occurred in the 3rd quarter of 2000, in Clinton's last year of office. I'll post my infamous chart again to show how the middle class were helped below... ;) Note that the chart doesn't include the effect of extending the child tax credit upwards to $1K for qualifying dependent children. That credit helped the poor and middle class greatly!

    So tell me again, who's for the poor and middle class Mr. Dumbama? :rolleyes:

    It's hard for me to fathom that they just "don't get this". I think there's much more at work... :eek:

    Attached Files:

    Last edited: Dec 7, 2010
  8. Carne Frio

    Carne Frio Member

    Joined:
    Aug 28, 2008
    Messages:
    731
    Location:
    Near Fairbanks
    He understands the economics of marxism.
  9. ponycar17

    ponycar17 Active Member

    Joined:
    Feb 17, 2005
    Messages:
    5,053
    Location:
    South Carolina
    Understand is a strong word. It implies intelligence.

    Does he "understand" or simply repeat the economics of Marxism from a higher handler?... Think about that for a while...
  10. Marlin T

    Marlin T Active Member

    Joined:
    Jul 8, 2005
    Messages:
    7,879
    Location:
    New Mexico
    If by higher handler you mean all those self admitted card carrying communists, terrorists and Black Liberation people that he grew up with I'll go with ya on that. :D

    Thanks for posting that chart again. It really is as simple as that.
  11. henry77

    henry77 New Member

    Joined:
    Jul 8, 2009
    Messages:
    202
    Location:
    Wiggins, MS
    He and his gang of thieves have no understanding of basic economics. They want to stick it to us.
Similar Threads
Forum Title Date
The Fire For Effect and Totally Politically Incorr Alan Caruba opinion article (Corrected) Aug 10, 2010
The Fire For Effect and Totally Politically Incorr In my opinion... Oct 19, 2013
The Fire For Effect and Totally Politically Incorr Your Opinion on Sandy Financial Aid Jan 4, 2013
The Fire For Effect and Totally Politically Incorr My opinion of the democratic convention Sep 4, 2012
The Fire For Effect and Totally Politically Incorr New Cabinet .... Your Opinion ? Nov 30, 2011

Share This Page