Obamas Plan to Jump Start the Economy

Obama consistently says that he is concerned with the economic recovery and job creation. What follows is a list of what Obama is proposing to do in an effort to spur economic activity.

  1. Tax banks with over 50 billion in assets regardless of whether they received bailout money
  2. Tax banker bonuses
  3. Tax investment managers
  4. Tax financial transactions (stock trades, swaps, options, etc)
  5. Increase the Medicare tax
  6. Extend Medicare tax to investment income
  7. Let the Bush tax cuts expire
  8. Tax companies off shore profits. Today if companies earn profits off shore, those profits are exempt from income tax until the money is brought back to the US. This change would tax those profits regardless of where they are.
  9. Impose a 40% tax on health care
  10. Carbon Tax

I ask you, would a man who is truly concerned with economic recovery and job creation propose these “fixes?”

crossposted to The Ritz Report