Republicans made a big mistake! They thought the economy was in decline because government interference, government regulations, and unfair taxation were impeding the intelligent hard working wealth creators.
Yet, the candidate that promised the most regulatory interference and higher income taxes won the hearts and minds of the rich! Republicans thought the rich were unfairly taxed… but the rich voted with their check books and contributed considerably to the defeat of Mitt Romney.
Notice also that the blue states that support more taxes on the rich happen to be all of the rich states.
The executives that destroyed our banking system apparently knew all about the liar loan housing mortgages and willfully created the derivatives from the liar mortgages knowing full well they were selling their fiduciary clients time bombs. Then just as the scam peaked they created insurance derivatives to bet against their time bombs and made $billions as their derivative bombs exploded and destroyed the American banking system. Then the US government gave them a $700 Billion bailout for all their hard work. And yet not a single one of those executives was put on trial. And then they gave themselves more bonuses and supported the defeat of Mitt Romney! Now Wall Street is lining up to pay for Obama’s parties so Obama can save his money for Obama Memorial Center.
We cannot see into the minds of Warren Buffet or George Soros but apparently they are not alone and know our economic system is unfairly or corruptly rewarding many of them and they therefore feel guilty and actually want higher taxes.
The rich have collectively voted for higher taxes by donating more to the candidate offering them higher taxes. The Republicans should get out of the way and let President Obama give it to them.
As for the economy, let's see what happens. We think we will get by the cliff, but the corruption in government and now Wall Street may already be at irreversible socialist levels.
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