Numbers posted today show that unemployment remains at a very high level, 9.2%, with little hope for improvement. Although certain types of managerial jobs are becoming more available, that does little for the mainstream that's out of work. Then, if you add those who are working, but "under-employed" because their hours have been significantly cut back, about 25% of the total workforce is either idle or on a reduced schedule.
So, in view of the continuing poor economic news, what does our leader do? He delivers another speech of course, as if words piled on words will help fix the problem. And, I find that especially frustrating since, as far as unemployment goes, his policies are the major cause. What's more, I often wonder exactly who it is he's talking to, because anyone with any awareness knows the truth and that real hiring won't begin until he's out of office.
In the last few days though, the president's shown some willingness to listen to Republicans who are adamant that taxes not be raised. The Republican's fear is that tax increases of any kind will stifle the economy further. And although the president's acquiescence has nothing to do with a sudden flash of good economic sense, he's simply trying to keep his job even though his party disagrees with his wavering, the result might be good for the nation.
But, through it all what's really moronic is the solid stance of the left who prefer to let the country crumble than use common sense. At the moment leftists are jumping up and down, screaming that the rich be taxed no matter, mainly because they have too much. And much like the disastrous health care bill that nobody read before enactment, Democrat leadership in the House and Senate continue to demonize the successful, yet have no idea as to what damage their thoughtlessness will cause in the end, because it's been done before by their predecessors.
In 1993 the Clinton administration enacted the Yacht Tax, under which the "rich" were taxed via ownership of luxury items. And in the end what happened was, those very same rich found other loopholes and other places to spend their money. But in the meantime, the administration practically killed the luxury item business, put thousands more out of work, reduced their tax income to almost zero in the sector and eventually the act was repealed in 1996 after doing horrendous economic damage.
So, I guess when it's all said and done it's pretty clear as to where political lines get drawn. And it isn't so much ideology or firm commitment or fanatical belief, it actually comes down to intellect in the end. Because anyone who'd give up their chance at livelihood, economic freedom, and perhaps even their survival out of hatred of the successful has got to be pretty stupid.
That's it for today folks.
Adios
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