There have been very few well crafted articles which I have read and greatly disagree with. This is one of them. The author has a beautiful way of crafting his words so that even a layman like me can clearly see his point. The only problem I have is that I can not agree with much of it. In an effort to provide a clearer picture of my disagreement with this well written and brilliant article. I have broken it down as demonstrated below.
The Author contends that “the Obama administration and its plans to raise taxes, heap mandates on entrepreneurs, and increase the size and the reach of government.” (Gasparino, Charlie, 11/1/2010, Yahoo News, 5 New Economic Battles for Obama, Retrieved from email@example.com). Well consider the increase of government when those Republicans decide to make it the law that every woman must carry their fetus to term regardless of rape or incest. One must ask themselves which government would be larger or will that be left up to the states to enforce a federal law? He writes that “the Republicans will hammer home the foolishness of “destimulating” the economy when it obviously needs stimulus and will insist that budget cuts come before the government raises taxes, regarding the Bush tax cuts.” And “they will try to show that Obama is really the obstructionist with his failure to cut spending while he raises taxes on small business.” (Gasparino, Charlie, 11/1/2010, Yahoo News, 5 New Economic Battles for Obama, Retrieved from firstname.lastname@example.org). My response is that these tax cuts came in 2001 and 2003 and are the same ones that some say are the ones needed by these so-called small business to stimulate the economy but I still can not see the results of this stimulation and that was 9 and 7 years ago. Just how long does a tax cut to the wealthiest among us take to kick in? When the author says that Obama has failed to cut spending and raise taxes on small business, I have got to say that he did that some time ago by freezing discretionary spending and these small businesses are not real small businesses that create jobs. The real small businesses are those making less that $250,000.00 per year. When this author speaks of small businesses, I can only wonder if his definition of a small business is one who has over 1,000 employees, makes over $250,000.00 per year and is owned by a separate entity or listed on the Stock Market.
The author mentions that “issues like “Too Big to Fail”-the Republicans say it needs to be explicitly outlawed in the legislation-and bank capital standards, which they say are too onerous and are preventing banks from lending when the economy needs small businesses get loans to expand and start hiring again.” (Gasparino, Charlie, 11/1/2010, Yahoo News, 5 New Economic Battles for Obama, Retrieved from email@example.com). I contend that “Too Big to Fail” is already addressed in the Dodd-Frank Financial Reform Bill and the bank capital standards were less and no lending was done to small businesses so making bank have the money in capital to cover the amount that they gamble with is far from a bad thing. If the banks could have covered their losses, the meltdown of this economy would have never occurred but let’s give them another chance to sink this country, why don’t we.
The author admits “that the CBO study, they tell me, was riddled with faulty assumptions that made the plan sound like a win-win for everyone, particularly the American taxpayer, who is focused on the ballooning deficit like never before.” (Gasparino, Charlie, 11/1/2010, Yahoo News, 5 New Economic Battles for Obama, Retrieved from firstname.lastname@example.org). Please pay close attention to the author admitting “they tell mel” so no verifying for himself. “Look for a lineup of corporate chieftains explaining why they have to make health coverage cuts (like the ones said to be in the cards at McDonald’s) during hearings that will be designed to further weaken the public’s sagging support for the president’s plan.” (Gasparino, Charlie, 11/1/2010, Yahoo News, 5 New Economic Battles for Obama, Retrieved from email@example.com). Again speculation with words “like the ones said to be in the cards at McDonald’s” (Gasparino, Charlie, 11/1/2010, Yahoo News, 5 New Economic Battles for Obama, Retrieved from firstname.lastname@example.org). But if that works for you then so be it.
Again excellent article but I just can’t agree with much of its premise. It is my hope that the majority of us can look at both sides and weight each equally before we make up our mind about either of them. In the words of Howard Dean, when one has made up their minds about any truth, truth can not ever be used to change it so maybe all this posturing is mute.