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Barack Obama Would 'Hasten Economic Decline' with High Taxes

By Brad O'Leary

As the American economy teeters on the brink of collapse, two things are clear: 1) There is no easy fix for what ails our financial markets, and 2) Barack Obama is the least equipped to help solve the pending crisis.

Obama would hasten our nation's economic decline with a toxic mix of high taxes on businesses, wealth producers, energy and runaway spending.

No one is less equipped to deal with the current financial crisis than Senator Obama. Obama is more beholden to Wall Street and the investment banking industry than any other candidate running for president. At the same time he called for $700 billion to bailout Wall Street, he refused to back off of his massive campaign proposal to increase government spending by a trillion dollars and to raise taxes on businesses, both small and large.

Barack Obama is either economically clueless, or his goal is to bankrupt America and drive us into recession."

A majority of Americans agree that Obama's economic plan would harm our economy, according to an ATI-News/Zogby American poll. The poll results show that 78 percent of Americans think that Obama's plan to raise taxes on businesses and wealth producers will result in higher unemployment, lower wages and increased prices for goods and services.

According to data from the Federal Election Commission, Obama has raised more money from Wall Street, investment banks, and the insurance and real estate industries than any other candidate. He also has a clear lead in money raised from lawyers and lobbyists.

Though Obama repeatedly states that he will cut taxes for 95 percent of Americans, the inconvenient truth throws this figure into serious doubt.

It is a fact that 30 percent of Americans don't pay federal income taxes in this country, either because their income doesn't meet the threshold that would require them to pay, or their deductions and credits eliminate their tax obligation. Therefore, it is very interesting that Obama claims to have a plan to cut the taxes of 95 percent of Americans when only 70 percent of Americans pay federal income tax in the first place.

Brad O'Leary is author of "The Audacity of Deceit: Barack Obama's War on American Values." To see the truth about Barack Obama's stance on economic issues, and take a five minute test to see how his views match up with yours, go to: www.BarackObamaTest.com.

Brad O'Leary serves as President of ATI-News, Chairman of the Board of PM Direct and is the former President of the American Association of Political Consultants. From 1993 to 1997, Brad hosted a talk show program on NBC Westwood One that boasted two million listeners a day. He was also a cover story and feature writer for USA Today Weekend Magazine with 100 million weekly readers. O'Leary is also the executive producer or producer of 11 television series and 27 television specials, including award-winning shows on President Ronald Reagan and Pope John Paul II. O'Leary is the author of 11 books, including Presidential Follies, Are You a Conservative or a Liberal?, Triangle of Death and now, The Audacity of Deceit. To interview Brad, call Peyton Knight at 703-272-1504 or email him at peytonknight@pm-direct.com.