The Democrat's Looney Economic Trifecta

I am sometimes accused of treating liberals and Democrats with kid gloves, and picking on all the Republicans.

If I am sometimes guilty of not being an equal opportunity bitch—I apologize. But, the reason is—with Democrats—whats the point?

However, today there is Leftist Trifecta I can not ignore.

Congress tried to pass a windfall profit tax on the oil companies. Of course, this was just political posturing. They knew the Republicans would philosophically (and because the oil companies grease their paws even more than they do the Democrats) oppose it, and even if somehow it passed, the president would veto the measure—and the people would hate heartless Republicans even more.

Instead of doing some things that might actually ease the pain at the pumps, Congressional Democrats just pandered again.

I suppose most of the Democrats realize it is just show, because if you are blessed with a functioning half brain, it is obvious this would do nothing to lower gas prices—even if the energy companies are cheating and manipulating prices, and even if the tax was not passed on to consumers.

It might feel good to stick it to the Oil Companies—but it's not gonna help anyone one bit, and it might even hurt quite a bit.

And now it has become real clear what Barack Obama is all about. I tried really hard to like him—he is young, intelligent, and exciting. But he is just another socialist-lite Democrat, and not very good at economics. Yesterday he gave an especially silly and deceptive speech on the economy.

One of the most important things, in the socialist world, is redistribution of the wealth, and Barack is no exception. They do not necessarily impose taxes because the money is actually needed. They use the tax system to hit fat cats and promise a few pence to the teeming masses.

Obama claims that his steal from the rich and give to the poor program will result in a thousand dollar savings for a middle class taxpayer. It is difficult to see how this will happen with all the spiffy and expensive programs Spend-O-Rama has lined up for us—even if he is able to get rid of George Bush's glorious war. The non-partisan National Taxpayers Union estimates that Obama's programs will increase the federal budget by an obscene $287 billion.

How will this, and the middle class tax savings, be paid for? Borrow more money from China I guess.

Obama wants to make the Estate Tax permanent . The Estate Tax is the most unfair tax in this country.

It appeals to Democrats because it is taxing inheritances, left to people like Paris Hilton . The socialist argument is that not only will we get rid of tarts like Paris, but the grip of dynasties such as the Rockefellers and Carnegies can be nipped in the bud—and their money distributed to the masses, through the instruments of the federal government.

The reality is it does not hurt billionaires, who can easily afford it, like Bill Gates and Warren Buffet—but small family businesses and farms. When the owner of a small dry cleaner dies, the government comes in and takes half his money. Since most of it is tied up in the business, the family enterprise is never passed on to his heirs, as was the plan. The business has to be sold , to pay the government.

In case no one has noticed, the Rockefellers are still around.

Not to mention, this is a tax on money which has already been taxed. The people who earned this money paid income tax. Why is it fair to hit them with another tax, just because they died, and have been good at saving their money?

Incidentally, over at the Huffington Post, Seth Colter Walls is claiming it is not entirely true that the Estate Tax is a tax on money which has already been taxed, because there will often be a tax on the capital gains on the property sold at the time of death.

My dear Seth-- that was a stupid thing to say. The Estate might have to pay a capital gains tax, but that has nothing to do with the Estate Tax—which is calculated on the net value of the estate—it is an entirely different tax.

But, even though the Estate Tax is profoundly unfair, guys like Seth are quite enamored of it— slap them dead fat cats, and give their ill begotten gains to The People.

Obama is also advocating that the corporate tax be increased. Our business tax is already the highest in the developed world. What this does, amongst other bad things, is encourage domestic businesses to split the country, or outsource their work.

Barack Obama was screaming like a protectionist bangee during the Ohio primary about all the harm NAFTA, free trade and outsourcing are doing to the the American worker—and then he has a plan like this.

Go figure.