July 21, 2011

Latest Pajamas Media Column (‘The Fear-Based Economy’) Is Up

Filed under: Economy,Positivity,Taxes & Government — Tom @ 9:51 am

It’s here.

It will go up here at BizzyBlog on Saturday (link won’t work until then) after the blackout expires.

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Primary points:

  • Since its beginning three years ago, what I have been calling the POR (Pelosi-Obama-Reid) Economy has been the fear-based economy described by Steve Wynn of Wynn Resorts on Monday.
  • The economy, which hasn’t been impressing anyone since the recession as normal people define it ended two years ago, is sputtering.
  • Further tax increases, on top of the $438 billion over 10 years relating to Obamacare which start taking effect in 2013, will seriously harm the economy and could send it back into recession.

Oh, and something I didn’t mention: Additional tax increases, if enacted, won’t lead to anywhere near the collections the tax-raisers envision.

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2 Comments

  1. Yep, it really sucks with obamanism…..

    Dad29 has another good posting too…

    http://dad29.blogspot.com/2011/07/steve-wynn-leader-of-pack.html
    Steve Wynn: Leader of the Pack
    POWIP assembles the quotes from IBD. Wynn is just the longest-winded.

    -3M’s George Buckley, who blasted Obama last February as anti-business. “We know what his instincts are,” Buckley said.

    …Intel’s Paul Otellini, who told CNET last August that the U.S. legal environment has become so hostile to business that there is likely to be “an inevitable erosion and shift of wealth, much like we’re seeing today in Europe

    …Home Depot co-founder Bernie Marcus, who observed to radio host Hugh Hewitt last month that Obama “never had to make payroll,” that “nobody has ever created a job in this administration” and that the president is “surrounded by college professors.”

    And of course, the Boeing guy.

    This is not merely smoke.

    There IS a fire.
    And that fire is burning down the “jobs” house for Americans.

    Maybe projecting tax revenues upward is stupid?

    PS: More here.

    http://coldfury.com/2011/07/21/an-inconvenient-truth-2/

    Even more blunt and apocalyptic.

    Comment by Greg — July 21, 2011 @ 12:18 pm

  2. [...] Bernie Marcus are the first high-visibility corporate titans to publicly and directly tie the Fear-Based Economy, which yours truly has been calling the POR (Pelosi-Obama-Reid) Economy for three long, painful [...]

    Pingback by BizzyBlog — July 21, 2011 @ 1:25 pm

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