Sunday, September 26, 2010

Something to ponder

Via Donald Luskin:
[The GOP's recently released Pledge to America calls for the] repeal the mandate hidden in Obama's health care legislation that requires small business to report to the IRS all purchases above $600. Bravo. It boggles my mind that Democrats, who so loathe the privacy invasions implicit in the Patriot Act, would have ever approve this kind of Big Brother regulation in the first place. In and of itself, this will have no effect on earnings. But it would send a signal that would be very positive for stocks -- that not only will this kind of burden not be imposed on business, but that old burdens will be removed.
Well Don, the answer is simple. It's all about the money; Democrats believe it's all the government's money and its susceptible to being called back in the form of taxes because of some ambiguous public purpose (subsidies for rich farmers and socialized medicine to name a couple of examples.)

By the way dear liberal Democrats: How's the Patriot Act working out for you under Obama?

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