August 3. 2009

President Barack Obama

President Barack Obama, seeks to extend jobless benefits, during the current economic crisis and is also mulling future tax increases.

I think at this point, it is inevitable that taxes need to be raised on the rich. America is so heavily in debt, there really is no other way to pay for it. Raising taxes is a common practice in nations all over the world, when a country becomes too debt laden.

The government needs to return to sensible financial practices, abandoning the illogical, nonsensical madness of the George W. Bush years, which he hid until he could flee office. Since his departure, a wave of data has surfaced, illustrating the 2008 financial crisis was far worse than people imagined.

George W. Bush based too much of America's financial plan on criminal activity, such as an illegal war to steal oil in Iraq, not banking on the fact it could all go awry, which is did.

He further wrongfully believed, allowing criminals like Madoff, Stanford and several dozen other fraudsters, to continue their highly dangerous financial escapades, rather than safely investing citizens' money, was the way to go.

Such unsound financial practices never worked anywhere in this world and it damaged the good America already had going for it, where upstanding companies were unfairly made to shoulder terrible losses, courtesy of a handful of useless corporate entities robbing people. 

To honestly make money, one must use clean capital, make products and or render services that actually suit public interests, spurring creativity, production, job growth and well earned interest. Not unlawfully take other people's assets and hope no one finds out and justice eludes you.