In hard hitting piece post yesterday on CNBC.com veteran economist Larry Kudow takes President Barack Obama to task over his economic policies:
Let me be very clear on the economics of President Obama’s State of the Union speech and his budget.
He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.
That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all — either for this recession or from the standpoint of expanding our economy’s long-run potential to grow.
Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obama’s left-wing social vision, and a repudiation of his economic-recovery statements. Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years.
Read the whole thing, suffices to say Kudlow is spot on… Barack Obama’s anti-growth economic policies are a declaration of war on small businesses, on entrepreneurs and on the very people and institutions we’re going to need to help pull us out of the current recession.