It looks like the voting majority is getting precisely what it wished for, and I suspect, far sooner than expected. Because according to Fox News on-line “President Obama, ahead of his first press conference since winning re-election and a meeting later this week with congressional leaders, staked out his starting point for fiscal cliff negotiations -- $1.6 trillion in tax hikes.”
I mention the above because it seems quite obvious that those favoring the incumbent's remaining in office wanted to see taxes raised on the “rich,” and to have all that was humanly possible done to insure that those at the top of the economic scale be brought down ASAP.
And now, not only are the miserable lower half of the population going to get their wish, they’re going to get even more than they ever dreamt of. Because if the tax hikes actually take place, not only will the entire U.S. economy shrink dramatically, the government will soon go broke while successful employers who have the slightest opportunity to relocate will take their businesses somewhere else. Consequently, the productive among us will now wind up in the same sinking boat as the hopeless, hapless and lost at sea which is apparently exactly what most voters dearly want.
And the most remarkable aspect of all this is the magnitude of the ignorance displayed in this situation. Because I honestly can’t fathom people being so outright dumb. And despite the fact that our school curriculums are worthless, I still have to believe that a significant part of the population understands that the government operates primarily on revenues from taxes, and that taxes derive greatly from rising incomes and asset values, and when costs rise too high, profits -and eventually the entire economy- will shrink. And therefore, raising taxes on the successful may look good in the short run, but in the end it’s like trying to qualify for disability aid by cutting of your feet.
However, as pitifully sad as the ignorance of our leadership is regarding basic economics, there’s a bright side I also read about today on Fox that says, “Nancy Pelosi told colleagues Wednesday that she plans to seek another term as House Democratic leader.” So, at least while the nation destructs before our eyes and the horrendous errors in leadership judgment pile up, as least we’ll all have someone to laugh at, because if you searched the entire solar system you couldn’t find a bigger joke than she is.
That’s it for today folks.
Adios
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