Wednesday, November 5, 2008

The Next Four Years

One must congratulate president-elect Obama for having done what few would have thought possible. My reasons for framing it that way have nothing to do with race, and everything to do with the policies and politics he represents. But he has indeed won the office by the vote of the American people, and that is no small task.

There has been myriad discussions online that probably go from one extreme to another. A few salient issues have been raised, but at this point it's been a fair amount of gloating from the Left and doomsaying or "here's what we've gotta do now" from the Right. Bleh.

Amid all the campaign promises kept, modified, and discarded, I have absolutely no idea where this country is headed. I do have my concerns, though.

Will he and the Democrat congressional majorities raise every tax they see? I talked to a younger fellow the other day and he seemed to think that the "95% of people will get a tax cut" should be taken at face value. Color me skeptical.

If taxes are raised, how badly will this effect the economy? This same fellow also mentioned some history and that this country has had higher taxes before. True indeed, but aren't we in "the information age"? When this country had more of the manufacturing jobs, and there was far less mobility for people than we currently enjoy, and when trade barriers were stronger, and when banking regulations were stricter, then sure -- it was easier to keep the people rich and poor alike pinned down. I would hope that we aren't planning to return to that in order to tax the rich.

Whether or not the speculation in the last paragraph is fact or my misremembering, I have noted over the years that I work more software folks now located in Ireland and Poland. Have higher taxes in the US already pushed jobs elsewhere?

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