Obama wrong on taxes and economy

In 1997, the new Republican Congress passed some minor tax relief (Clinton "reluctantly" signed the bill) lowering the capital gains tax from 28 percent to 20 percent.

Almost immediately, venture capital expanded over three fold and the economy went soaring.

It's now at 15 percent and Barack Obama wants to raise it back to 28 percent or higher. What do you think that's going to do?

Recent reports show that four out five people who file their taxes for their small business as personal income are in that 5 percent category that Obama wants to soak.

That's going to hinder or prevent their ability to make re-investments in their company and make it difficult if not impossible to keep employees much less hire new ones.

Democrats' fingerprints are all over this economic downturn because of their protection of Fannie Mae and Freddie Mac over the past 10 years.

I can't stress this enough. Fannie and Freddie, with Democrat support, are responsible for this mess we're in.

Fannie and Freddie are at the root of everything that's happened on Wall Street. Two people in particular, Chris Dodd and Barney Frank are at the helm.

The current economy has absolutely nothing to do with the Bush tax cuts. The Bush tax cuts gave us over six years of growth and record employment.

The Democrats' attempts at social re-engineering, through Fannie and Freddie, are the root of this current economic disaster. Period.

One last thing. Factcheck.org reports the ads claiming John McCain will make big cuts to Medicare are bogus and not true. This is just the tip of the iceberg, friends.

Are you ready for a socialist president, backed by left-wing liberal socialists in the House (Nancy Pelosi) and Senate (Harry Reid)? God help us.

Alan Haak

Palatine