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November 28, 2012

Obama In August 2009: "You Don't Raise Taxes In A Recession"

Topics: Political News and commentaries

In August 2009, President Obama was very clear that we shouldn't raise taxes in a recession:

That was then, yet today Barack Obama called for tax hikes on what he calls rich (those making over $250k, including small business owners who file as individuals) - and the economy is stagnant, at best.

This, despite the fact that tax hikes on upper-income earners would directly fall on 91 percent of income earned by job-creating businesses that pay their taxes through the individual income tax.

And as made clear in an IBD editorial, by jacking up taxes on the most successful 3% of small businesses, Obama will destroy hundreds of thousands of jobs, shrink U.S. output and force companies to raise prices.

So, what reason could Barack Obama possibly have for wanting to stick it to the job creators (who pay 44% of all federal business taxes and account for 54% of all private-sector positions -- or 77.6 million in all), other than ideology of "social justice"!

Posted by Hyscience at November 28, 2012 12:35 PM

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