Quote:
Originally Posted by Broadsword2004
On this, I am not sure if it is really a fair criticism. It makes for a good talking point, but being a good businessman doesn't mean one is going to be a good statesman. And not having business experience doesn't mean one doesn't know how to create a good climate for business. I'd say the major problem with this administration is more just the ideology it has and the people Obama appoints being too regulatory-crazy. Also, because of all the policies they've passed, they are creating too much uncertainty in the economy.
I also think the Republicans had better watch it, because if a Republican wins the White House and the economy still remains in the doldrums, they are going to get hammered. Republicans love to tout tax cuts, but taxes are already at historical lows as it is. There is only so much one can cut taxes. We could cut the corporate tax rate perhaps, but otherwise, we have fairly low income tax rates and capital gains and dividend taxes right now.
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Maybe, it is more than just being surrounded by academics with little practical experience...Obama has none either, he went from 'community organizer' to head executive without any executive experience. Someone in the room needs to have practical experience. His economic technique is to let others work the program and particulars and then get involved...except he doesn't know what to do when involved...nor does he have the background to understand the 2nd/3rd order of effects of an economic decision.
He is shooting blind in the dark, with a blank gun.
BTW lots of folks have lower Cap gains tax rates than the US and they will automatically go up in the near future if not extended. That is why lots of big money goes elsewhere.