Repent Ye Socialist Heathen

Capital On Strike

In the three months since the election, the broadest measure of the stock market’s value, the Wilshire 5000 Index, has plunged more than 30%, slicing over $3 trillion from Americans’ wealth. Investors have walked away from investing, while businesses shut down factories and offices and slash jobs.

This is both highly significant and dangerous. Capital, bluntly put, has gone on strike. Those who own wealth are pushing it to the sidelines, as a young and inexperienced president tries to jam through the most sweeping economic changes in over 70 years.

The prospect of these changes becoming law has already radically altered our nation’s economy. Entrepreneurs and CEOs who once created new products, new services, jobs and trillions in wealth for America’s workers and retirees now find themselves vilified and punished for their success.

ABC News reported this week that many upper-income taxpayers already are planning to cut back on work and investments to stay under $250,000 in income — the point where Obama’s punitive taxes kick in. No one wins from this, yet Obama seems oblivious.

/as usual, IBD nails it, will Obama be too proud and stubborn, at the nation’s expense, to back off his ill timed, [expletive deleted] up, harmful agenda?