The version of economics being pushed by President Barack Obama has a few problems. Among them are:
- The end of the "Bush tax cuts", plus the increased surtaxes in the "Patient Protection and Affordable Care Act" (Obamacare) will increase the national tax bite by $0.5 trillion per year, beginning next year.
- Gasoline prices are at new highs, and heading higher.
- Barely over half the U.S. population pay any income taxes at all.
- Only 33% of the U.S. population are
- taxpayers, and
- not government employees.
- People making minimum wage (quoted here as $14,500/year) are better off than people making four times as much.