We've already established that Obama is bad for the American economy. Yesterday is a great encapsulation of that fact. We started the day on the residual of his big speech, which sounded pretty but was really a laundry list of socialist promises and programs that Obama can't possibly pay for. Still, Americans are nothing if not optimistic and resilient, so you see the market battle its way back throughout the day. Then, at just before 4pm...what happens?
The White House openly admits its plan to increase taxes on the wealthy, and changes the timeframe of its implementation.
Wow, what a great move! Thank you, Mr. President.
There's my two cents.
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