The government thinks it would be a GREAT idea to buy up similar securities based on — wait for it — credit card debt, among other things.  Because, you know, that’s the first payment someone makes who has lost his or her job in this downturn.  The Fed announced the new $200B program today, and the securities will also be based on car loans, small business loans, and student loans.  The program will eventually expand to include car fleet and heavy equipment leases. 

This is the consumer credit version of TARP.  And we all know how well THAT has worked.

You knew it would happen.  With Obama’s tax plan, that magical $250K income level triggers numerous punishments — higher marginal rates, a higher capital gains rate, and a lower deduction rate.  So why work that hard only to have more money confiscated than was actually earned over that mark? 

ABC has a story on earners who will be cutting back when the tax hikes appear.  The kicker is the story has an embedded poll — Is it fair to reduce high salaries to sidestep Obama’s tax proposal?  I was a little surprised that the yes answers outpaced the nos.

Way to go, Obama.  Take away incentives not just at the bottom but at the top, too.  What a country you’re going to leave us.

Update: Dr. Helen Smith points out the more subtle digs in the ABC article (I only caught the glaring poll).  (H/T Michelle)

Update II: At the same Michelle Malkin link above, I read through the frustrated rant from Laura over at Pursuing Holiness.  She’s going on strike, and I think this will be a trend.  Check out the graphics at both links.