Even before the 2008 election, when it was pointed out to Obama that his plans to jack capital gains taxes through the ceiling would actually reduce government revenue by suppressing economic activity, the Lightworker blithely replied that the point was “fairness” — i.e., Obama planned to inflict tax increases out of sheer malice, regardless of the Laffer curve. Where will money come from to finance his demented never-ending spending spree? Simple: put it on the credit card, then monetize the debt:
The latest round of extraordinary Federal Reserve stimulus is risky and leaves little room to maneuver should another crisis hit, economist Lawrence Lindsey told CNBC’s “Squawk Box” on Wednesday.
Lindsey said that with the Fed purchasing at least $40 billion a month in mortgage debt through QE3, “they are buying the entire deficit.”
This means that our rulers are using inflation to pay for their spending. Essentially, this is a tax on everyone anywhere who uses American currency.
Also before the 2008 election, Obama made a “firm pledge” that no family making less than $250,000 per year would see a tax increase. No one who believed him has any business voting.
On tips from Artfldgr and Bob Roberts.