There’s more fallout from what I’m becoming increasingly convinced was a stolen election by the community organizer in chief and his allies. It’s not pretty, and I doubt it’s going to get better.
Death spiral: Hours cut, workers pushed to part-time due to Obamacare; ‘They keep cutting my hours’ – I wonder how many of those complaining voted for Obama. Maybe if they did their homework they’d still be able to pay their bills, and soon may have had a little disposable income for other things.
Out of business avalanche: Small biz owners report ‘closing up shop,’ and ‘can’t afford to stay in business’ – No doubt they saw it coming and were just hoping for the best. Instead they got the worst and this is the result.
Wealthy Americans are already dumping assets because they know what’s coming. You see, wealthy people have the means to insulate themselves somewhat from the evils of big government. The rest of us don’t, other than stocking up on essentials.
For many of the wealthy, 2012 is becoming a good year to sell.
They’re worried about the “fiscal cliff,” which is when tax cuts expire and spending cuts are set to go into effect at the end of the year.
Fearing an increase in capital gains and dividend taxes, many of the rich are unloading stocks, businesses and homes before the end of the year.
Wealth advisors say that with capital-gains taxes potentially going to 25 percent from 15 percent, and other possible increases in the dividend tax, estate tax and other taxes, many clients are selling now to save millions in taxes.
I wonder how much wealth is being taken out of the American economy as I type this. Yet people will still argue that tax hikes will somehow bring in more revenue. I know, math is hard when it’s beyond the 7th grade level.
Probably the saddest news of the day is that of a veteran who flew his American flag upside down on Veterans Day, and then someone called the cops, but that may have been on a different upside down flag. This country is clearly in distress. I guess that’s to be expected now that we’ve clearly turned into a banana republic.
Update: Of course, all of the companies announcing layoffs and cutbacks are being attacked by the idiots who voted for Obama, for the crime of just trying to survive in this new, dreadful reality.