When Democratic presidential candidate Hillary Clinton isn’t involved in the process of scheming, lying, or hiding something about her nefarious activities, she’s thinking about the best ways to pander to the socialist element of her party.
During the 1990’s, as first lady for example, she came up with “HillaryCare,” her own failed version of socialized medicine for America. Of course, she didn’t know the first thing about the health care industry. She just thought it was her role as a statist functionary of the government to tinker with it for the “common good.”
Today she has her sights set on the financial markets. Of course, once again, she doesn’t know the first thing about the financial markets. She just thinks it’s her role as a statist politician to tinker with it for the “common good.”
So she declared this week as part of her campaign for President that if elected she would essentially double the tax rate on short term capital gains. She doesn’t like the idea of what she calls “activist” investors and traders in the financial markets buying and selling securities for short term profits.
That concept offends her socialist sensibilities. Never-mind that it is those very activities that allows the markets to run efficiently. Never-mind that it’s the short term trader that creates the markets for buyers to find sellers and sellers to find buyers.
She also doesn’t like the idea of what she calls “quarterly capitalism.” The fact that some American corporations try to generate profits quarterly for the purpose of pleasing shareholders every three months offends her socialist sensibilities. "American business needs to break free from the tyranny of today’s earning report,” she croaked, “so they can do what they do best: innovate, invest and build tomorrow’s prosperity... It’s time to start measuring value in terms of years -- or the next decade -- not just next quarter."
In short, she thinks it’s her business as a statist politician, who knows nothing whatsoever about business, to tell business how to run their businesses. Hillary Clinton doesn’t believe that corporations are in business to generate profits for shareholders. She thinks that all businesses should be in business exclusively for the benefit of the “common good,” that shareholders may be damned.
So if Hillary has her way, investors would be required to buy and hold an investment for at least six years in order to qualify for the existing 20% short term capital gains tax rate. If an investor wanted to sell before the six years were up, any profit would be taxed as ordinary income or roughly double the existing rate.
And if Hillary has her way, the national minimum wage would be $15 per hour. On top of that, corporations would be discouraged from engaging in stock buybacks for the benefit of shareholders. She contends that the money spent on buybacks “might be better spent on research and development.”
How about that? This woman has the unmitigated nerve to tell American businesses that she knows better than they do about how to manage the growth and prosperity of their enterprises.
And why not?
If elected President she would preside over Hillary World.