President Obomas' Economic Plan

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Will It Work?

If you had any type of media on last night you heard the State of the Union Address. Now I don't know how you feel about want Pres. Obomas' ideas for recovery,but they scare me.

For instance, his idea to place a fee on the largest bank to recover bail out money. The banks have failed to make the loans they were supposed to. I feel the problem there is the fear of risk after the 'sub prime ' bubble burst. So how are they going to take more risk when they are paying big fees to the government?

And did I hear him say he would increase tax those making over $250k while reducing taxes on the others? What's to prevent those being taxed more from just leaving or relocating out of our country? Worst yet, why won't a few just lie about or hide their finances? Where will that money come from then (target on my back)?

What about his idea to pursue the Doha agreement. Didn't our Free Trade Agreement teach us anything? How many jobs will be "outsourced this time? Yes we need to increase our global trade, but shouldn't we have something to trade first?

You gotta love his ideas on education, but his way of helping education is to have our government pay for it in effect "socializing "our education even more than it is now. How long before the government begins to dictate how that money will 'educate us?

While I agree with many of the things he said in his speech, I have little faith anything more will happen than more of the express train to socialize our country.

                                                                                   caretakerray





Comments 6 comments

caretakerray profile image

caretakerray 6 years ago from Michigan U.S.A. Author

stars439:

It may be Pres. Oboma has good intentions but not the experience. :)

thanx for reading

caretakerray


stars439 profile image

stars439 6 years ago from Louisiana, The Magnolia and Pelican State.

Great Hub. I am really confused. I think Obama may have good intentions, but it appears to me that as tempting as it may be to want everything we would like to have can be on quite an expensive menu. We need so much, people need jobs, but billions of dollars are not small bucks. If it costs billions to create jobs, does that really solve problems? But on the other hand, people need jobs.

The cost of wars in life and dollars is extremely expensive. Outside influences have played a major role in wrecking our economy. Vietnam was expensive in life and dollars. We also have debts from way back when.

There is plenty of blame to go around, but you are right about socialism.

When I get disgusted over politics, I walk outside and look at the clear blue sky and say, at least Heaven and the clear blue sky has no bills to pay, or National Debts. And my old screen door has never caused a problem. God Bless You.


caretakerray profile image

caretakerray 6 years ago from Michigan U.S.A. Author

James A Watkins :

Glad you enjoyed the article. :)

Thanx for reading.

caretakerray


James A Watkins profile image

James A Watkins 6 years ago from Chicago

I enjoyed reading your Hub and I share your concerns about the efforts of social liberals to remake this country into a haven of socialism so they will have more dependents on the dole who will always vote for them. As George Bernard Shaw said: "If you rob Peter to pay Paul, you will always have the support of Paul."


caretakerray profile image

caretakerray 6 years ago from Michigan U.S.A. Author

Jim Bryan :

Thanx so much for your input. Nice to see poeple who give these matters some thought . You make some very Jim Bryan good points. I'll definitely be considering your comments. :)

caretakerray


Jim Bryan profile image

Jim Bryan 6 years ago from Austin, TX

Afraid? Let me try to put some of those fears to rest.

For instance, "his idea to place a fee on the largest bank to recover bail out money," doesn't really exist. The government loaned the banks the money, most has been paid back, that money will now be reinvested into small business. Also, we don't want them taking stupid risks, their accounts are insured by the FDIC..ie our tax money. When you make prudent risks you act as the "house," sub-prime risks is about as financially sound as playing the slots in Vegas.

What's to prevent those being taxed more from just leaving or relocating out of our country? The only reason they have those high salaries is because they work in the US. For example, the CEO of GM makes about 37 times more than the CEO of Toyota.

Why won't a few just lie about or hide their finances? Tax evasion charges and a stint in Danforth Federal Prison. Where will that money come from then? Asset seizures of the tax evader.

His way of helping education is to have our government pay for it in effect "socializing" our education even more than it is now. How long before the government begins to dictate how that money will 'educate' us? Most schools, both Primary and Secondary are public, your points are moot. Something must be done to curtail the costs of education, his plan is to work with universities and lenders to bring down costs and in exchange remove some of that risk that scares you so much. Besides, he was talking about Pell Grants and Federally backed loans. We all have a vested interest in how that money gets spent/loaned.

Also, maybe I'm confused on the Doha Agreement. What do internal political accords regarding Lebanese political factions have to do with free Trade? Maybe there is a spelling difference? Regardless, Free Trade is a scam and expanding it will only hurt the US economy. We need tariffs to level the salary field--make it so expensive to import goods that it is cheaper to produce them here.

Hope that clears up some of the things bothering you, now, if we can just get Congress to stop fighting and DO something.

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