The mainstream media is reporting that the stock market is rallying,
because Wall Street insiders are encouraged and energized that President
Obama will be reelected.
Come on, readers, and tell us if you know anybody on Wall Street that would buy stock because of Obama's reelection. The tax dividends on stocks will increase 300 percent if President Obama is reelected in November 2012. Why would an investor buy stock when his after-tax return is being cut from 85 percent to 55? Someone with a modicum of common sense would say the stock market is surging because they see the president losing the 2012 election.
Notice to liberals who think high state income tax rates don't matter. Tiger Woods announced yesterday that California doesn't have as many successful professional golfers as it was once known for. They have all moved to low-tax states like Florida, Texas and Nevada.
I implore someone, just anyone, to tell us whom this economy is improving for? It is rare when speaking to anyone, regardless of their socioeconomic standing, who feels the economy is improving anywhere. All of us have been significantly diminished in the era of Obamalism.