Sunday, November 18, 2012

IT'S OFFICIAL: Nancy Pelosi Demands That American Small Businesses Fire 710,000 Workers

It's increasingly clear that Nancy Pelosi is suffering from a serious medical condition. My diagnosis is a catastrophic loss of brain cells caused by a plastic surgeon winding her skin ever tighter around her head like a noose.

House Democratic leader Nancy Pelosi says she’s hopeful lawmakers can come to a deal to avoid a year-end “fiscal cliff” but any agreement has to include tax rate increases for the wealthy...


...The California Democrat says “just to close loopholes is far too little money” and other ideas have to be considered. Republicans have suggested they are open to finding more revenues.

And precisely what would such a tax hike "for the wealthy" mean?

According to the accounting firm Ernst & Young, the Obama tax hikes for incomes over $200,000 ($250,000 for married filers) would drain funds from the most successful small-business employers, who employ 54 percent of the private workforce...

Unemployment would rise 0.5 percent, which translates to 710,000 fewer jobs...

• Real after-tax wages would fall by 1.8 percent...

• GDP would fall by 1.3 percent...

• Capital stock and investment would drop by 1.4 percent and 2.4 percent, respectively

Pelosi and Obama are students of Alinsky. They want to "fundamentally transform" America. And the easiest way to accomplish this task is to repeat the failed Democrat policies of the Great Depression, over and over again.


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