[FoRK] Obama: communitarian, redistributionist, confused? (from NYT)

J. Andrew Rogers andrew at ceruleansystems.com
Tue Aug 26 08:57:34 PDT 2008


On Aug 26, 2008, at 6:30 AM, geege schuman wrote:
> Sorry - I'm a trickle up kinda person, not a trickle down.  JAR's  
> lamenting
> the lack of capital NOW, under the current Bush tax cuts.  Something  
> doesn't
> jibe.



I am not lamenting a lack of capital now, so I do not know how you  
could read it that way. Depending on the type of capital, there is  
quite a bit right now. Venture capital is pretty flush in spite of  
Sarbanes-Oxley poisoning that market a bit, but government policy has  
been slowing that market.  There are probably a couple million jobs in  
the US economy that are only profitable at the current capital gains  
rates, so those would go away; the lower capital gains rates have  
undoubtedly helped dampen the economic impact of Bush's stupid policies.

Considering that somewhere around 5-10 million jobs in the US economy  
are essentially created by private capital investments, what do you  
think will happen if that investment pool shrinks significantly?   
Those jobs are not sustained by magic but by private capital willing  
to take a risk.  Not only that, it will only take a couple years for  
that to manifest.  Do you really want an All Democrat, All The Time  
government when that crap hits the fan with no one to blame but the  
Democrats?  The economy is tenuous enough as it is, no need to  
aggravate the situation by weakening the capital markets.


In politics, it is apparently okay to shaft hundreds of little guys in  
order to shaft a big guy who never really deserved it in the first  
place, but no one ever seems to take responsibility for shafting all  
those little guys, only the big guy.

J. Andrew Rogers


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