Dear Barack Obama: Get Real, Fella

June 30, 2008

Dear Barrack Obama: Get Real, Fella
Editorial
Pittsburgh Tribune-Review
June 26, 2008
http://www.pittsburghlive.com/x/pittsburghtrib/search/s_574585.html

Dear Barack Obama,

Welcome to Pittsburgh. This morning you’re visiting Carnegie Mellon University, hosting what your campaign is billing as a summit to discuss economic competitiveness.

Funny, but many of your economic proposals actually are anathema to competitiveness.

Consider your proposal to slap a “windfall profits tax” on Big Oil. Never mind that the oil industry profit margins are far lower than many other U.S. corporations — financial services and computer software, to name two — the evidence is clear that the last time this intemperate tax was employed, domestic oil production dropped and our dependence on foreign oil rose.

How does such a policy increase U.S. “competitiveness,” Senator?

Then there’s your plan to save Social Security by, in typical “progressive” fashion, soaking “the rich.” You’d assess the payroll tax on household incomes above $250,000. (Actually, the way you have it set up means households can be taxed twice.)

How does government confiscation of 0.4 percent of the gross domestic product annually make this nation “more competitive”?

Let’s get real here, fella — your investment-draining “economics plan” will make this country far less competitive. It’s more smoke and mirrors. It’s yet another shade of new lipstick on the same old liberal pig. It’s tax-and-spend politics dressed up in the tutu of “reform.”

It’s not a “plan,” Sen. Obama. It’s a disaster.