Obama: Actually, Uh...Tax Increases During a Recession Might Be a Bad Idea
Barack Obama has now apparently consulted his 10th grade economics textbook and decided raising taxes during what he calls a "recession" might not be a good idea. From the wire service that doesn't like to be quoted:
This isn't the first bad idea Obama has had. Let's review:
Against the surge. "But see, it wasn't really a good idea to send more troops into Iraq. Sure it's true that this summer there were more violent shooting deaths on the streets of Chicago than on the streets of Iraq, but we have the Sunni awakening and Iranian restraint to thank for the reduction in violence, not the U.S. military." Bad idea.
Against offshore drilling. "Okay, so maybe I now support some offshore drilling, but only if we also hit oil companies with a huge windfall profits tax which no one can define." Bad idea.
Voted for ethanol. "Sure burning food sounds bad. Sure food prices have steadily risen as a result of the congressional ethanol mandate. Sure it actually requires more energy to produce a gallon of ethanol than is contained in a gallon of ethanol. But hey, who would you rather take money from - the middle-class mother-of-two buying groceries or those nasty, greedy, evil oil companies?" Bad idea.
Against FISA update, then voted for it. "Yeah this is uh...what you have to take into account is uhh...well, from a constitutional perspective uh....what was the question?" Bad idea.
Talking to dictators without preconditions. "No, I never said that, and no, of course Iran is not a tiny threat." Bad idea.
Partitioning Jerusalem. "Israel is a strong friend of Israel's." Bad idea.
Unilateral disarmament. "Oh hey Russia and China, what's up?" Bad idea.
Now that Barack Obama has to cut out the class warfare and populist rhetoric and actually produce specifics for his economic plan, his economic ideas are sticking to his established trend. They're bad ones.
Democrat Barack Obama says he would delay rescinding President Bush's tax cuts on wealthy Americans if he becomes the next president and the economy is in a recession, suggesting such an increase would further hurt the economy.So, high tax rates will further hurt the economy, and won't increase government revenue? Way to sound like a conservative, Obama! The following quote is even better:
"John McCain likes to talk about fiscal responsibility, but there is no doubt that his proposals blow a hole through the budget," Obama said.This remark is as laughable as the billions Barack will need to finance his future of hope and change. If he isn't going to tax the holy hell out of the rich, how is he going to pay for what he's promised? Deficit spending, anyone? When Obama raises taxes on corporations and employers, the middle class will be affected, jobs will be lost, wage increases will slow down, new business and investment ideas will remain unhatched, and economic growth will slow to a crawl, resulting in an even more sluggish economy and (gasp) less tax revenue.
This isn't the first bad idea Obama has had. Let's review:
Against the surge. "But see, it wasn't really a good idea to send more troops into Iraq. Sure it's true that this summer there were more violent shooting deaths on the streets of Chicago than on the streets of Iraq, but we have the Sunni awakening and Iranian restraint to thank for the reduction in violence, not the U.S. military." Bad idea.
Against offshore drilling. "Okay, so maybe I now support some offshore drilling, but only if we also hit oil companies with a huge windfall profits tax which no one can define." Bad idea.
Voted for ethanol. "Sure burning food sounds bad. Sure food prices have steadily risen as a result of the congressional ethanol mandate. Sure it actually requires more energy to produce a gallon of ethanol than is contained in a gallon of ethanol. But hey, who would you rather take money from - the middle-class mother-of-two buying groceries or those nasty, greedy, evil oil companies?" Bad idea.
Against FISA update, then voted for it. "Yeah this is uh...what you have to take into account is uhh...well, from a constitutional perspective uh....what was the question?" Bad idea.
Talking to dictators without preconditions. "No, I never said that, and no, of course Iran is not a tiny threat." Bad idea.
Partitioning Jerusalem. "Israel is a strong friend of Israel's." Bad idea.
Unilateral disarmament. "Oh hey Russia and China, what's up?" Bad idea.
Now that Barack Obama has to cut out the class warfare and populist rhetoric and actually produce specifics for his economic plan, his economic ideas are sticking to his established trend. They're bad ones.
Labels: Economy, Election 2008
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