The Hoboken Tax Reform Coalition
Obama to New York: Drop Dead
Will Zimmer join Bloomberg in denouncing Obama's ill-conceived plans?
From www.hobokenrepublicans.com/blog:
Right on the heels of his proposed tax on financial institutions, the President is now calling for severe new restrictions on the size and activities of our nation's banks.
In his latest press conference, Mayor Bloomberg blasted Obama's plans, noting that banks are the foundation of New York's economy. In last week's press conference, Bloomberg warned that Obama's new taxes would transform New York into Detroit.
As so many of our residents work in New York's financial sector, these new taxes and regulations are bad for Hoboken, too. Local concerns aside, is this any way to "stimulate" the nation's economy? The market, apparently, doesn't think so. Stocks plummeted after the plans were announced.
In related news, a recent poll found that 77% of investors view Obama as "anti-business."
From www.hobokenrepublicans.com/blog:
Right on the heels of his proposed tax on financial institutions, the President is now calling for severe new restrictions on the size and activities of our nation's banks.
In his latest press conference, Mayor Bloomberg blasted Obama's plans, noting that banks are the foundation of New York's economy. In last week's press conference, Bloomberg warned that Obama's new taxes would transform New York into Detroit.
As so many of our residents work in New York's financial sector, these new taxes and regulations are bad for Hoboken, too. Local concerns aside, is this any way to "stimulate" the nation's economy? The market, apparently, doesn't think so. Stocks plummeted after the plans were announced.
In related news, a recent poll found that 77% of investors view Obama as "anti-business."
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Tags: Bloomberg, Obama, Regulation, Taxes, Zimmer
Comment
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Comment by Red Elephant on January 28, 2010 at 1:47pm -
As I should have noted, this was first posted on January 23rd (you can view the time stamp here). And here you can read a news report on Bloomberg's remarks. The market did slide in reaction to Obama's call for severe banking regulations. You are quite right, however, that it has continued its decline in response to more recent economic data.
For the record, I am opposed to excessive federal spending, no matter which party is in control. There's no question that Bush overspent. Obama has now outdone even Bush's profligacy. As for the prosperity we experienced on Clinton's watch, it should be noted that in many respects Clinton governed as a fiscal conservative after the 1994 revolution. Clinton signed welfare reform, as well as a tax cut on capital earnings. After relative fiscal restraint under Clinton, federal domestic spending then ballooned during the Bush-Obama era.
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