More On Obamanomics

This post would also be appropriately titled “Moron Obamanomics.”

From  Capitol Hill Daily   Floyd Brown writes  Obamanomics Kills The Middle Class.  The full article is well worth reading.

 Allow me to dig a little deeper here. Obama travels around the country moaning about how the middle class has been sledgehammered by the current economy, and then he proceeds to pitch tax reform for big business. As Rep. Paul Ryan opined, Obama is really pitching a “grand bargain for big business.”

Obama is offering to cut the corporate tax rate from 35% to 28%. Yet, even this is deceptive because his proposal would actually raise taxes by closing off numerous tax loop holes. You see, his prescription for recovery is remarkably wrongheaded. Even socialists and Keynesians agree that raising taxes when the economy is soft is simply bad policy.

It’s surprising that anyone would buy into Obama’s supposed tax cut proposal. Clearly, our memories are way too short. It was just eight months ago, on January 3, when Obama signed the fiscal cliff bill that increased the top tax rate on individuals and small business owners to 39.6%. That “grand bargain” is already taking $60 billion a year out of the pockets of families and small business owners.

It’s also worth remembering that the president set aside Obamacare’s employer mandate for companies with more than 50 employees – but he refuses to suspend the mandate for everyone else. Essentially, Obama gave big business yet another tax break while unfairly refusing the same for small businesses and individuals.

Gary Bauer at Campaign for Working Families writes:

Further analysis of last week’s employment data reveals some shocking details and the full extent of the failure of Obama’s economic policies. For example, the vast majority of new jobs being created are part-time positions. According to one analysis: “of the 953K jobs created so far in 2013, only 23% … were full-time. Part-time jobs?  731K of the 953K total.”

And there is this from the New York Times:

•    “Lots of people lost jobs during the Great Recession. In the aftermath, the great surprise has been how few are looking for new jobs. Labor force participation, the share of adults working or trying to find work, has stagnated at about 63.5 percent, almost three percentage points below the pre-recession level.

•    “The unemployment rate has dropped almost entirely because of this decline in labor force participation. In other words, it has not fallen because people are finding jobs. It has fallen because fewer people are looking for jobs.”

Clearly Obamanomics is not working and neither are enough Americans. Under such depressing circumstances it is no surprise that marriage rates are also falling, a bad omen for any society.

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