Obama re-election will end up hurting poor
Wyatt Kopp Ledyard
Publication: The Day
President Obama's policies are ultimately cruelest to the poor and middle class. Increased money taken from the private sector is less money in the economy for growth. Businesses have less to hire with, upgrade equipment, develop new products, and less to stay competitive.
Higher taxes and increased regulations discourage the undertaking of risk needed for growth. People being people, will do the sensible thing and try to avoid the taxes. For that reason, taxes are rarely the promised panacea. It is the poor and middle classes who will pay the ultimate price of living in a stagnant economy with ever decreasing opportunity.
Taxes that cannot be avoided will be passed on to consumers in the form of higher costs for goods and services. It is naive to believe that the poor and middle classes will get a free ride and that the rich and businesses will pay. Taxes and regulations simply give rise to hidden taxes on the poor and middle classes that actually hit these groups harder. Taxes on business or the rich are taxes on the poor and middle classes. There is no bill, but it is collected in the form of less opportunity and higher costs. Economic growth through less government is the only real solution.
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Obama re-election will end up hurting poor
President Obama's policies are ultimately cruelest to the poor and middle class. Increased money taken from the private sector is less money in the economy for growth. Businesses have less to hire ...
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