Obama's Economic Policies will Bring a Second Great Depression

John Hames shared with you:   Obama's Economic Policies will Bring a Second Great Depression The Foundry - One oddity of the current economic debate is that the more Barack Obama's incompetent income-redistribution policies have failed, the more the left calls for more government-intervention policies to correct for the deficiencies of the earlier rounds. American middle-income families have lost nearly $3,000 in purchasing power since 2007, and the left's only solution to get us out of the rut is more debt, more social-welfare spending, more income redistribution and higher taxes on the rich and big business. Piketty's primary advice is that America adopt much higher tax rates — as high as 80% on millionaires — as a way to prevent hoarding of wealth and funding a more supersized social-welfare state. He recommends that a wealth tax of 10% or 20% or 30% would also help spread America's wealth around. He assures readers that all this can be done without harming growth or injuring the entrepreneurial spirit — which he acknowledges is essential for prosperity. Available on the App Store.

John Hames