Obama’s solution: massively raise taxes
President Obama has proposed $1.5 billion in new taxes over the next ten years to close the deficit:
In a blunt rejoinder to congressional Republicans, President Barack Obama called for $1.5 trillion in new taxes Monday, part of a total 10-year deficit reduction package totaling more than $3 trillion. He vowed to veto any deficit reduction package that cuts benefits to Medicare recipients but does not raise taxes on the wealthy and big corporations.Michelle Malkin comments:
Here’s a reminder for President Obama: The last thing you want to do is raise taxes during a recession (even on the wealthy).Malkin then posts a video clip of an interview Obama gave in 2009 in which, standing in what looks like a factory with an NBC reporter, he clearly states that you don’t want to raise taxes during a recession, because that would reduce demand and thus make the recession worse. By the way, Obama speaks very clearly and cogently in this interview, with no “uh’s” and no teleprompter. Right-wing reports of this man’s barely average intellect are just not believable.
I’m against raising taxes, but I’ll make an unprincipled exception and back a 99.999-percent tax on Warren Buffet if it will make him stop complaining about how low taxes are.
Posted by Lawrence Auster at September 19, 2011 04:09 PM | Send