Obama’s just like Reagan… Except when he isn’t.
The rate of real economic growth is the single greatest determinate of both America’s strength as a nation and the well-being of the American people.
Ronald Reagan brought forth an annual real GDP growth of 3.5%.
Barack Obama will be lucky to average a 1.55% GDP growth rate.
This ranks Obama as the fourth worst presidency on record.
Many a time the Lexington Libertarian has written that Democrat Liberals just do not know how to grow a free market economy. SOCIALISTIC, REDISTRIBUTIVE ECONOMICS DOES NOT WORK. This is demonstrated in the anemic 0.5% 2016 first quarter growth.
Of course, the Left is not interested in growing the economy. That’s why there are far fewer good paying jobs when they are in power. They want to divide up the earnings of hard working Americans and the most successful in the name of FAIRNESS. They are not interested in providing the system in which business grows and successful people are created for that is, in their mind, benefitting the rich and that is a sin.
But they operate under a fallacious theory that has been disproved many times over. THAT IS THE NOTION THAT THE RICH ARE RICH BECAUSE THEY TAKE AWAY FROM THE POOR. What a person likeBill Gates has done in his career has no relation to what another person, rich or poor does. Gates created new wealth, he did not take anything away from anybody else. Successful people add to the wealth of society which benefits everybody in some manner. As President John F. Kennedy said when he announced massive tax cuts, ” A rising tide lifts all boats.”
The Democrat Liberal formula doesn’t lift people UP from poverty, rather it brings people DOWN from success to the lowest common denominator. In the process, everybody suffers.
What is needed is a cut in the corporate tax like the rest of the world has done, a repatriation of corporate trillions held overseas because the Left insists on double taxation, personal income tax cuts, and the capital gains tax along with an elimination of the death tax. The Fair Tax or a Flat Tax with a national sales tax would do the job also. Yet that is not all. A stable currency is a must and above all the elimination of the onerous, burdensome regulations that private business must pay and which cripples their expansion.
But Democrat Liberals won’t do this because they say it benefits the rich. But what the rich gain or earn has no relation to what the less successful do. What one person does not take away from what another does. We do not live in a static economy that never increases or decreases and therefore must be divided up by government to see that each person gets their fair share. Our economy could double or triple if we stop punishing those who create more wealth. And in that process more opportunities open up for everybody wherever they are along the economic strata. When was the last time a poor person offered you a job?
Bernie Sanders is offering a fantasy that will reduce this nation to mediocrity. Socialism does not work and the confiscation of private wealth by the government is theft and it destroys morale. See this previous post:
YOU CANNOT LEGISLATE THE POOR INTO PROSPERITY BY LEGISLATING THE WEALTHY OUT OF PROSPERITY.