ObamaNomics is built on the assumption that politicians are better stewards of economic resources than the millions of individuals and business enterprises who created those resources.
But these data show that the private sector’s ability and willingness to generate wealth for government to seize through taxation is rapidly diminishing. These data show that Obama’s own actions are are literally killing the goose that lays the golden eggs he needs to fund his agenda.
The drop in individual income tax revenue in fiscal 2009 was the steepest since 1939. As the chart shows revenue continues to plummet in fiscal 2010.
Not only is current tax revenue down, but without current investment, future tax revenue will decline even more. via ObamaNomics: An Endless Downward Spiral.
Will POTUS address this decline during the State of the Union address? PREVIEW of SOTU speech.
Even ObamaGirl says the thrill is gone. Does POTUS know yet? He was supposed to be the visionary POTUS, not the fighting POTUS.
January 27, 2010 at 8:48 am
If there is a way to continue our ruination, obamaCo will find it.
“Say What You Will…It Feels So Good”
January 27, 2010 at 9:58 am
They must be working 24/7 to do this PssttCmere. I just can’t get over how much they have destroyed in one year.
January 27, 2010 at 4:21 pm
This would certainly make it into the Guiness Book of Records.
“Say What You Will…It Feels So Good”
January 27, 2010 at 8:51 am
Guess what bary the more people that lose their jobs mean less money for the government.
Adding more government jobs makes it even worse.
January 27, 2010 at 10:00 am
These freezes that he speaks of are nothing short of cosmetic changes. He is such a liar DE. He will beat out Carter as the worst POTUS evah in the history books and I think he knows it now.
January 27, 2010 at 9:27 am
“Will POTUS address this decline during the State of the Union address?”
yes, but he’ll explain that low tax revenue is caused by high health care costs which is btw a much greater concern to ppl than unemployment.
January 27, 2010 at 10:02 am
…and blame GWB as well.
January 27, 2010 at 4:22 pm
Don’t forget that racist, Clinton….
~
“Say What You Will…It Feels So Good”
January 27, 2010 at 10:24 am
There’s still a lot more blood in our turnips to squeeze. Many people still own their own homes,. land, businesses. The oligarchs that own our banana republic won’t stop until they get the sum of it.
January 27, 2010 at 11:03 am
I have no doubt that there will be more squeezing Nom. At some point, there will be nothing left.
January 27, 2010 at 11:52 am
Last night, Elizabeth Warren did an excellent job of describing not only Obamanomics, but the past 30 years (staring with Reagan).
I do NOT expect him to offer an explanation, but agree with both you and raging above.
I’m just going to buy some booze and play this game:
http://www.drinkinggame.us/
January 27, 2010 at 12:05 pm
I think I will play that game as well. Got a full wet bar ready.
January 27, 2010 at 1:04 pm
How lovely that obama’s approval ratings are ever so low for this day that he wants to try and snow the people yet again. Is Joe Wilson attending tonight?
January 27, 2010 at 1:19 pm
I hope Joe Wilson is in the crowd tonight.
January 27, 2010 at 3:24 pm
Whenever you see Joe Wilson during tonights SOTU, shout “You Lie!” and slam two shots of Southern Comfort
January 27, 2010 at 4:20 pm
Yes, I was thinking the same thing, although I will still slam those babies down without Joe.
January 27, 2010 at 3:01 pm
We got another one, McNorman
http://www.foxnews.com/scitech/2010/01/26/police-suspect-suicide-physicist-andrew-langes-death/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%253A+foxnews%252Fscitech+%2528Text+-+SciTech%2529
January 27, 2010 at 4:19 pm
I heard Swell528. I wonder what the heck is going on? Too many suicides imo. Very sketchy.
January 27, 2010 at 4:49 pm
Don’t worry about falling tax revenues. He has sicked the IRS onto wealthy people…
And it ain’t just because they’re wealthy either – it’s because they have “control” over various successful business enterprises…
You think I’m kidding? Check it out at TDN. I kid you not…
January 27, 2010 at 4:57 pm
Where has the love gone? Hell, they want his tiny tot image gone in Indonesia now as well.
January 27, 2010 at 5:08 pm
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