Kudlow: Obama's War on Investors, Capitalism

Tax hikes and spending surge cause a backlash.

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Last October, I wrote the following.

if Barack Obama is elected president next week, 2009 may well bring a concerted and all-out effort by the Obama administration and a Democratically dominated Congress to turn the generally pro-Republican Investor Class into an endangered class by, among other tactics, raising investment taxes and ending the tax preferences for 401(k)'s, IRAs, and other retirement accounts.... if the Democrats control both the White House and Capitol Hill, look for them to move hard in the other direction, from an Ownership Society to a Government Owns It Society that would perhaps nudge America back to the left.

It appears I suffered from a lack of imagination. Here is Larry Kudlow:

Let me be very clear on the economics of President Obama’s State of the Union speech and his budget. He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.

Me: Something is building here. The unified GOP against the stimulus bill.  The post-election stock market plunge. The unpopular housing bailout. Geithner's bank rescue fumble.The Santelli Soliloquy. The trillion-dollar tax increase during a recession. The nationalization of healthcare, student loans and energy. And now this jaw-rattling uppercut by Kudlow, which may rank up there with Ronald Reagan's "Time for Choosing" speech as a meta-political inflection point. Hey, where are the Obamacans?