The President Still Moving To The Left


We now know that President Obama's reality show will survive for another four years.
The question is will America. The much publicized fiscal cliff is approaching  and despite the president's conciliatory rhetoric his core dogma remains the same: tax the wealthy. If one were to look over the presidents plan, it's clear that 85% of it seeks to redistribute wealth by punishing upper income earners and corporations. Some of the Presidents favorite targets are still in his sights, energy companies, and Wall Street traders. Since the election, the stock market has fallen off a cliff of its own, its been down over 700 pts. In large part because investors are fearing the coming changes in the capital gains rate coming the first of the year. If the President gets his way and increases tax rates on the upper income, expect the stock market to slide deeper into the abyss. American institutional investors are not the only ones to consider. Billions of dollars from around the world are invested here from countries by investors who are fleeing their own confiscatory tax rates such as France, Germany and Sweden. The dark side of me wants the Republicans to call the Presidents bluff and allow him to run the economy into an economic ditch. This will put the Democrats into an awkward position of defending themselves in the 2014 midterms for supporting Obama's failed record. Was it just me or did anyone else get that same dirty feeling when Hugh Chavez endorsed Obama?











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