Obama wants: (1) elimination of mortgage deduction; (2) elimination of personal exemption; (3) elimination of standard deduction; (4) reduction in loss carry forward (5) reduction of depreciation. Cute how Democrats disguise real intentions with a Judas' slogan 'fiscal cliff'. I hope Obama hurts America really bad.
At this conjuncture in American history, we have 2 diametrically opposite view of the American model. On one side a big government model which will control the economic activity. You cannot say it is real socialism; I rather use the term progressistsm-corporatism. Obama does not want to own big business he wants to control it by government edits of all kinds. He will run down our throat what and where he wants his bodies to invest, how much we will be paid and what we will pay for it.
On the other hand, the republican want the old American model where by: you work, you take a risk, and you get rich. Simple and is very efficient. This has work for 200 years plus.
In a way we are revisiting the model society that the original democrats wanted. Jefferson wanted to keep slavery to control prices. If someone worked for free, how can you compete? That was the way the south was competitive.
Lincoln was for the open salary market. You work, you get paid the prevailing salary, you take a risk in education or production smarts, you get rich.
The bottom line is that with Obama the connected weasels will keep what they have, and the rest will be kept in check.
Interesting brief overview of current opposed U.S. economic theories. You neglected Obama's increased socialism agenda becoming 'big daddy' to the poor, uneducated, lazy and indigent. With NAFTA, and 'global economies' more poor and minorities have become unemployeed in the U.S. and are wards of the state, i.e. socialism. A less confusing name for Obama's theories of government purpose is regulated-socialized-capitalism, sort of like China today. Capitalism has to carry the weight of both government and welfare in its many forms.