Glenn linked a post last week which really got at the economic problem of the president’s class-warfare rhetoric and his insistence on taxing the “rich”. Jim Tynen quotes an observer as finding the president “unaware of the link between job creation and the level of taxation on businesses and business owners.” That former liberal responds:
Look, the rich already have their money. And, duh, they’re good with it. And money is darned handy. Especially when elections season rolls around. They’ll protect the money they have, and they’ll enjoy it.
What we want them to do, however, is invest it so the economy grows again.
Demonizing the “rich” is not a means to create jobs. Doesn’t the president listen to his own rhetoric? He has said, “Small businesses produce most of the new jobs in this country.” And he wants to tax these folks. If he taxes them more, then they will have less to spend on innovation and expansion and will so create fewer jobs.