Obama Promises Second Term Tax Hikes
congress, debt, gop, Nation, obama, POTUS, taxes 7:10 PM
To President Obama's credit, he has tackled recent debt talks with shocking transparency. For starters, he has laid out his re-election campaign strategy. Unable to run on his economic record, the president has doubled down on traditional leftist class warfare against straw men like billionaires, corporate jets, and fat cats. In meetings with Republican leaders, Obama has also fallen into the same trap as he did during the Bush tax cut extensions last year. That is to say, Democrats were horrified that the president never even fought to decouple the tax deal and allow taxes to rise on upper income earners. This time, he announced early that there will be Social Security and Medicare cuts in the final tax deal.
Let's repeat that. The president himself - not Republican lawmakers - announced and prepared lawmakers to sign onto a deal which cuts into those programs. Perhaps the DCCC will run an ad with Obama pushing a grandmother off a cliff now?
Last and most shockingly, President Obama accidentally warned the press of his plans to hike taxes after the election. If he receives a second term, Obama warned, he will raise tax rates in addition to huge hikes in payroll taxes already built into his budgets. According to Obama, "What we have talked about is that starting in 2013, that we have gotten rid of some of these egregious loopholes that are benefiting corporate jet owners or oil companies at a time where they're making billions of dollars of profits." John Hayward at Human Events noted of the stumble, "So, we’ve got an ominous promise by Obama to raise taxes again, if he gets re-elected. That’s right, again. He’s already raised billions of dollars in new taxes, and should never be allowed to pretend otherwise." To support his argument, Hayward pointed to a recent Wall Street Journal article highlighting just a few of the egregious tax hikes the president has already signed.
Will there be four more years for President Obama? Americans should think carefully whether or not they can afford the prospect. At least the president is honest about what he would do in his next term.
Posted by Nick Stone
on 7:10 PM.
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