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  • Taxmageddon Veto? Obama's Recent History Suggests Otherwise

    Former President Clinton caused quite the commotion earlier this week when he said on CNBC:

    What I think we need to do it find some way to avoid the fiscal cliff, to avoid doing anything that would contract the economy now, and then deal with what’s necessary in the long term debt-reduction plans as soon as they can, which presumably would be after the election. They [Congress and President Obama] will probably have to put everything off until early next year.

    That stance puts Clinton squarely in line the policy we at The Heritage Foundation and many others have said for months.

    Soon after Clinton’s remark, White House press secretary Jay Carney shot back with the following:

    We should not extend—and [President Obama] will not extend—the Bush-era tax cuts for the wealthiest two percent of the American people. It’s bad policy, it’s bad for the economy, it’s bad of our fiscal picture.

    President Obama and Carney have it exactly backwards. Raising taxes on “the rich” is bad policy because it is bad for the economy. Raising the top two income tax rates, as President Obama wants to do, would raise taxes on small businesses that are key job creators. Higher taxes would deprive their owners of resources they need to invest to create more jobs. Higher rates would reduce their incentives to invest the resources they have left because the return on that investment would fall.

    As for our fiscal picture, the President’s own budget says that his tax rates on the rich will raise $32 billion next year while the deficit will remain close to $1 trillion. And, of course, the best way to close the deficit is through stronger economic growth, which President Obama’s tax increase would inhibit.

    It is curious that President Obama continues to oppose a full extension of the Bush tax cuts. Two years ago he was in a similar position, and wisely chose to reverse course. For the sake of the economy, one can only hope he does so again.

    Posted in Featured [slideshow_deploy]

    3 Responses to Taxmageddon Veto? Obama's Recent History Suggests Otherwise

    1. Bobbie says:

      isn't that nice? everything obama purposes has extra treats that sets America(ns) up for future sacrifices just like he promised! "come take the candy, children. daddy obama has pockets full. come and get it with a splash of Obama on the rocks kool aid to quench your thirst…"

      America needs sound solution like Bush's tax cuts as law, not Obama's set up for government to gain more unearned profit and unconstitutional control through others American successes! His proposal, his plan, his ideas will EFFECT ALL! The definite trickle down effect he intends!!!! Please impeach this man.

      We're not here in America to get in line with government control. PLease remove this ugliness. Patriotic America(ns) hunger for common men and women, leaders who work with principle, who love this country and her rightful course established before this 100 year old attempt to take over, started. America(ns) need truth, dignity and integrity in America's leadership as the low life majority democrats work against! Look at Eric Holder, doesn't even know what "under oath" means. Isn't man enough to take accountability. Talks like he hasn't reached puberty, Isn't boss enough to know what's going on. But he got the job and his plans to kill fulfilled, with his good intention!!

      Democrat media tools, loud mouthing rants of disrespects and blatant lies beating the honorable as if to break freedom of speech to stifle, showing their true colors. While the honorable endure their dangerous but childish ways! Democrats are unrepresentable to America's principles, humanity and honest history! Why would anyone in America want this weak and pathetic party who can't even compose themselves? Who have no positive human qualities? …few exceptions but the party as a whole is collapsing this country as a whole!!!!!

      Obama's eyes look as black as O's was described the day O killed his wife. Dangerously aggressive, forceful, psycho and disoriented!! we pray for the honorable and justice from the dishonorable.

    2. Stirling says:

      Stanley Kurtz – "Radical-in-Chief" explains a lot.

      "Obama has adopted the gradualist socialist strategy of his mentors, seeking to combine comprehensive government regulation of private businesses with a steadily enlarging public sector. Eventually, in his hands, capitalist America could resemble a socialist-inspired Scandinavian welfare state."

    3. Blair Franconia, NH says:

      Obama's never met a tax he didn't like.

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