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Tax Hikes for the Middle Class?

Posted By Todd Thurman On February 11, 2010 @ 4:30 pm In Ongoing Priorities | Comments Disabled

[1]

Remember the promise [2] of the 2008 Presidential election?

No family making less than $250,000 will see
their taxes increase

Well, now, the option to tax the middle class is “on the table [3]“. Of course, as we have pointed out [4], he has already broken that pledge. But now, Obama is ready to admit it. According to Bloomberg:

President Barack Obama said he is “agnostic” about raising taxes on households making less than $250,000 as part of a broad effort to rein in the budget deficit.

Instead of taxing everyone to try and reduce the deficit, why not cut spending [5]? That would make it possible for Obama to follow through on his promise [6] to cut out programs that don’t [7] work [8] and focus on programs that do work. So far, we have only seen him cut programs that work [9] and give more funds to programs that don’t work [10].

Now, it seems that the middle class might have to pay for the failed policies and failed programs. It seems unfair and the President knows this. In his State of the Union address he stated [11]:

For these Americans and so many others, change has not come fast enough.  Some are frustrated; some are angry.  They don’t understand why it seems like bad behavior on Wall Street is rewarded, but hard work on Main Street isn’t.

We have already seen at a state level that higher spending and higher taxes does not work [12] to sustain the economy. That kind of thinking has nearly bankrupted California and Obama and the liberals in Congress want to continue in the same direction.

Heritage expert Brian Riedl has pointed out [13] that simply reducing spending per household to the level Ronald Reagan had it at, we could balance the budget In 2009, we spent over $33,000 per household, $8,000 more than we spent in 2008. We’re continuing down the road of more spending, higher taxes, and less benefits.


Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org

URL to article: http://blog.heritage.org/2010/02/11/tax-hikes-for-the-middle-class/

URLs in this post:

[1] Image: http://www.foundry.org/wp-content/uploads/Obama_Rhetoric090413.jpg

[2] promise: http://www.barackobama.com/pdf/taxes/Factsheet_Tax_Plan_FINAL.pdf

[3] on the table: http://www.businessweek.com/news/2010-02-11/obama-agnostic-on-deficit-cuts-won-t-prejudge-tax-increases.html

[4] as we have pointed out: http://www.foundry.org/2009/05/15/obamas-tax-hikes-already-hurting-the-poor/

[5] why not cut spending: http://www.heritage.org/Research/budget/wm2787.cfm

[6] promise: http://www.cnn.com/2008/POLITICS/10/19/ct.presidentialdebate3.transcript/index.html

[7] don’t: http://www.foundry.org/2010/02/01/with-head-start-failing-white-house-proposes-9-3-billion-for-new-preschool-program/

[8] work: http://www.heritage.org/Research/Economy/wm2799.cfm

[9] cut programs that work: http://www.heritage.org/Press/Commentary/ed011510e.cfm

[10] give more funds to programs that don’t work: http://www.foundry.org/2010/02/05/morning-bell-second-stimulus-same-as-the-first/

[11] he stated: http://www.whitehouse.gov/the-press-office/remarks-president-state-union-address

[12] does not work: http://www.foundry.org/2009/05/21/morning-bell-californias-high-tax-high-spending-disaster/

[13] has pointed out: http://http://www.heritage.org/Research/Budget/sr0063.cfm

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