Obama's clueless support of higher business taxes

Moe Lane:

Never mind the fact that Obama got yoghurt splashed on him last night – that’s just an ongoing hazard of being a politician running for re-election in this country. The real story here is this: the President went to Colorado to, essentially, lie to a bunch of kids about how they can get themselves out of this mess that they’re in. And it is a mess. 50% of college graduates are unemployed/underemployed; couple that with student loan debt levels that should really be frightening more people and we end up with a situation where millions of kids are getting out of college and staring DOOM right in the face. And while they are adults – and thus, responsible for their own fates – guess what? The people that connived to put them in this mess are adults, too. We expect twenty-somethings in this culture to make poor life choices, sometimes; what we don’t expect is for the generations above them to so ruthlessly take advantage of that.

Anyway: Obama’s answer in Colorado, last night? …Entrepreneurship. That’s what he was telling the kids. Start that restaurant! Develop that smartphone app! Make your own destiny! Get slammed with a tax hike on small businesses in the form of tighter restrictions on payroll tax exemptions!

…Yeah. One of these things is not like the others.

For the morbidly curious, here’s the situation: there’s a bill in Congress that would freeze student loan rates. It’s stalling because, well, that’s going to cost us $5.9 billion and the money’s got to come from somewhere. So the N-dimensional geniuses over at the White House went to Congressional Democrats and found six billion worth of pork to cut… Oh, I am quite the comedian! They’re Democrats: they never cut spending. No, what Obama and the rest of his merry crew did instead was come up with a plan to generate the revenue via increased restrictions for S Corporations re: eligibility for payroll tax exemptions.

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What we need to be doing is cutting the cost of college.  Colleges and universities have been increasing the cost of a degree at a rate that greatly exceeds the inflation rate.  They need to be making their programs more efficient and less costly.  They are overpaying for questionable talent.  they are providing an education that is not worth it to many students who find themselves saddled with debt they cannot possibly pay, because there are no jobs available to half the graduates.  Starting a business will be very difficult for young people with that kind of debt and will be even worse with the taxes that Democrats would impose on them ti subsidize interest on their debt.  The answer should be obvious to everyone who is not a liberal.  Reduce the cost of education.