Unless you’ve been living under a rock for the last few years, you know that the U.S. economy isn’t in good shape. Some doomsayers are even predicting that we’re headed for or already in another recession. What’s the proper tax policy when dealing with a fragile economy? Let’s see what Obama had to say on the subject two years ago.
That’s right, the last thing you want to do is raise taxes in a recessionary environment, because it would suck demand out of the economy and put businesses further in a hole. So, what did cynical Captain Clueless announce today?
President Obama made a defiant call on Monday for $1.5 trillion in new taxes as part of a plan to find $3.2 trillion in budget savings over the next decade, issuing his most detailed proposal yet to tame the soaring federal debt.
Abandoning earlier compromises, Obama adopted a posture that cedes far less ground in cutting the nation’s social safety net and demands much more in terms of new levies on millionaires, other wealthy Americans and some industries.
Obama says raise taxes for the rich to help cut huge deficits; GOP says that’s class warfare
Boehner on Obama deficit plans: Tells Fox Business, “I don’t think I would describe class warfare as leadership”
Old debate over raising rich’s taxes plays out on new landscape
Tax the rich, Obama says; class warfare, says GOP
Analysis: Deficit plan not class warfare, Obama insists
Obama: “This is not class warfare — It’s math”
Obama campaign takes on ‘class warfare’
Obama Yokes Benefit Cuts to New Taxes
Obama links entitlement cuts to tax changes
Obama proposes tax hike on wealthy to close deficit
Higher taxes for the mega-rich
Obama’s deficit proposal marks a move away from compromise
What a brilliant idea, let’s tax the [expletive deleted] out of the rich, you know, the same people who spend and invest money and create the jobs that we need to grow the economy out of the hole we’re in now. Of course, Obama knows damn well that his proposed tax increases will never pass through Congress. Even most Democrats aren’t stupid enough to vote to raise taxes in the face of a weak economy.
But Obama still proposed the tax increases anyway, even though he knows they’ll never see the light of day, why? Because it’s a cynical political ploy to shore up his lefty base in a futile attempt to salvage his ever decreasing chances of winning reelection. When Obama says it’s not about class warfare, you can be damn sure it’s all about class warfare. Hey Obama, you want everybody to pay their “fair share”, how about the 50% of Americans that don’t pay any taxes at all?
Obama doesn’t give a [expletive deleted] about the economy and whether his words and actions make a recovery harder to achieve. The only “job” he cares about is his own. He’s basically abdicated from the last 14 months of his first term as President to campaign full time for a second term, the rest of the country be damned.
Obama is like a $4 trillion ton drag, jumping up and down on the back of the economy. I can guarantee you that the second it’s a done deal that Obama’s on his way out, the country will breathe a huge, collective sigh of relief and the economy will take off like gangbusters again.
/until the elections, I think it’s best that we just ignore Obama and practice a policy of fiscal and regulatory containment
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