DeMint: Obama's Policies Are 'Venture Socialism'

Thursday, 15 Sep 2011 04:55 AM

By Hiram Reisner

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Sen. Jim DeMint said Wednesday President Barack Obama’s policies are killing American jobs and the president is a practitioner of “venture Socialism.”
 
“I would love to be able to work with the president on something — but he’s practicing what we call ‘venture socialism.’ — I mean, he basically has taken an approach where it’s the government that needs to stimulate jobs,” DeMint told Fox News’ Great Van Susteren. “And I know as an employer . . . you don’t hire someone because the payroll tax is a little lower or you get a $4,000 tax credit.
 
“And you certainly don’t hire anyone if they’re going to tax you more, which the president says everybody making over $200,000 [has] to pay more of their fair share,” the South Carolina Republican said. “They already pay 50 percent of all federal taxes now, and 40 percent of that income is small business. So what bothers me, Greta, is I’ve been visiting businesses now for the last month, and they’re telling me the same thing: That the president’s policies and the lack of certainty with the regulatory environment is killing them.”

DeMint said Obama’s job plan is “killing jobs” and is “really just a political program to try to defer the blame of our economy onto the Republicans.”

Van Susteren noted that part of Obama’s American Jobs Act calls for a reduction in deductions taxpayers can take for charitable contributions — and that has nonprofits worried.

The tea party favorite said the policy means that “the government will have to do more to help those people that are not being helped by private charities.”

“It doesn’t make any sense — one of the most efficient part of our tax code
is encouraging people to give to private organizations that have a hands-on approach to helping people,” DeMint said. “What we do at the government level, we spent trillions on poverty, Greta, and it was announced today poverty's at the highest level ever recorded in America — that’s shameful that we’ve spent trillions and actually created more poverty.

“So if you want to help people, let’s keep money in the private sector,” he said.

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