By Tom Quiner
Innovation breeds bounty.
Youth is the juice of innovation.
And a low capital gains tax rate opens the flood gates to prosperity.
Barack Obama is working hard to slam the gates shut by undoing each of these truisms.
Studies of human innovation reveal that our peak creative years are in our youth, topping out when we hit about 35 years of age. Over the last generation, we’ve lost around 54 million Americans to abortion. Liberal or conservative, you can see the impact that can have on a nation.
Inventions that would have been invented weren’t, because the arc of the inventor’s life was terminated .
New compositions that would have been composed weren’t, because the arc of the composer’s life was terminated.
New companies that would have been created along with its associated job creation didn’t happen, because the arc of the entrepreneur’s life was terminated.
And think how many taxpayers we lost, all through abortion.
Whether you love abortion or hate it, there’s an economic impact to a great nation when you kill off your posterity.
Practically speaking, Barack Obama’s pro-abortion public policies are killing America’s prosperity.
Our replacement birth rate has dropped to a point where we’re barely replacing ourselves. In other words, America is aging, our replacement lifeblood lost to abortion.
That’s not to say that America’s done. We’re not. This country still thrives thanks to innovators. That, though, is about to take a hit. If Barack Obama has his way, the capital gains tax rate is going rise from fifteen percent to 20% for some earners, and as much as 30% for folks earning more than a million dollars.
Many on the Left believe that capital gains should be the same rate as ordinary income. But there’s a difference between the two. Economist Thomas Sowell spells it out for the layman:
“Ordinary income is usually guaranteed. If you work a certain amount of time, you are legally entitled to the pay that you were offered when you took the job. Capital gains involve risk. They are not guaranteed. You can invest your money and lose it all. Moreover, the year when you receive capital gains may not be the same as the years when they were earned.”
If you increase the price of the risk, you’ll get less risk takers, which means you get less innovation, which means you get fewer new small businesses who are the real job creators, which means you get fewer new jobs, which means you get a Barack Obama economy.
“Yeah, but we’ve got a low capital gains tax rate right now. Where’s the economic growth?”
Fair question from the Left.
Mr. Obama and his party have dramatically, practically geometrically, increased government regulation on business. They have dramatically increased government indebtedness. They have dramatically increased entitlements, deficits, unelected czars, and uncertainty.
They have made an in-your-face decision to stop enforcing laws they don’t like.
Business owners don’t trust the national business climate created by Barack Obama. How else do you explain our economic malaise?
Mitt Romney promises to create 12 million new jobs in his first term. Team Obama is prepared to denigrate the claim in tonight’s debate. Their response is simple: it’s going to happen anyway. (One economic forecasting agency has made such a claim.)
Why, then, didn’t it happen in Mr. Obama’s first four years?
Why, when Obama could do anything he wanted with a Pelosi/Reid Congress, did his policies fail to produce jobs and prosperity?
Because Barack Obama suppresses the youth through abortion.
He vows to punish innovators and small business owners with higher capital gains taxes.
He promises permanent malaise.
Why should anything be different in the next four years? He vows to do more of the same, only worse.
Vote Mitt Romney/Paul Ryan if economic prosperity for all is your thing.