In our first segment, we listed the top 10 reasons we think Obama could make a great President. We are happy to see in our readings on the web that so many people are excited and happy about Obama’s election. We are also happy to see how well received it was internationally as well.
As with any new President, though, of course there have to be concerns regarding what could go wrong in a new Presidency. So we are presenting the top 10 reasons we are concerned about Obama’s election. We intend to follow up each segment with an article that summarizes these concerns just like we will follow up on Part 1.
Thanks for reading.
Here are our 10 major concerns about Obama’s promises and election.
- A scary health plan policy that will indirectly tax the healthy to pay for the sick, poor and elderly, shifting entitlement expenses such as Medicare to healthy Americans and small business.
- Increased tax rate unfairly and inequitably targets small business. Massive tax hikes on small business combined with required healthcare could bankrupt small businesses and result in a sharp loss of American jobs.
- Despite the incredible success of the Surge, the desire to end the Iraq war will likely not work. This could result in Iran invading Iraq, Civil War, genocide or worse. At the very least, Americans are likely to be disappointed as we find it cannot be done and the costs continue to spiral out of control.
- Increased welfare and education costs for the not-so-needy. Problems in the welfare system are what started the Republican Presidential run. Abuse of government programs is just way too easy.
- Higher cap gains and dividend tax could result in a major adjustment further downward in the stock market. The current tax system for stock investments is already incredibly unfair to anyone that loses money, and sharply overtaxes those that earn it even short term. Dividends are a central source of retirement income, taxing them unfairly targets the elderly.
- Increased terrorism could occur if the expectations internationally of Obama are too high, and they get disappointed when nothing changes or if we get aggressive against Al Qaeda.
- Assassination risk of Obama is high within the US. This is something we truly worry about. It would be a disaster to see our first multi-cultural President physically harmed in any way.
- Social Security problems will be deferred for 10 years under Obama’s plan, and higher taxes will only address the problem short term. The plan for raising Social Security taxes 10 years from now is unrealistic and defers the problem to Obama’s successor.
- Obama has made way too many campaign promises. Disappointment could be high as his policies fall apart.
- The balance of power has shifted dramatically liberal. The loss of current checks and balances in the system between Democrats and Republicans could allow too many liberal programs to propagate. This could result in a massive deficit well in excess of we are are today.
We would like to throw in something we fear a bit that is not really a concern regarding Obama, but something we are sick of hearing and hope as we move forward stops. We have constantly heard the blather about everything in God’s creation being Bush’s fault. In many cases, the issues being discussed as Bush’s fault had little or nothing to do with him or his policies.
We sincerely hope that if Obama’s plans start to fail, we don’t just continually see what we refer to as “excuse politics”. We don’t want to hear…this failed because of Bush and we couldn’t do that because of Bush. We are hoping the Democrats mean it when they speak of non-partisan politics, but their recent attacks on Lieberman seem to indicate they are as partisan as ever.