Obama and the Democrats have an insatiable appetite for more money out of the pockets of Americans. Despite having just raised taxes, Jay Carney makes it clear what we already knew – they have just begun to raise taxes. As Charles Krauthammer put it, “We have just begun to tax and to spend.”
It’s growing – the number of Republicans ready to cave-in to Barack Obama on raising tax rates. Here is Tennessee Sen. Bob Corker explaining why he is ready to do so. But these Republicans know in their hearts it is not the best thing for the country. The tax increase won’t even put a dent in the nation’s debt problem. They know it. Massive entitlement spending is the problem, and no one wants to face up to it.
Here is video of Sen. Rand Paul telling Larry Kudlow yesterday that President Barack Obama is “dead wrong” on wanting to raise tax rates, because that will prevent the economy from growing. Paul said it is “a really, really bad idea” to take money out of the private sector right now, because it very well could plunge the U.S. back into a recession.
Paul said he favors “letting Democrats raise taxes as high as they want to raise them” and then “let them own it” when it devastates the U.S. Economy.
Here is President Barack Obama in 2011 saying he could raise an additional $1.2 Trillion in revenue “which could be accomplished without hiking tax rates, but could simply be accomplished by eliminating loopholes, eliminating some deductions, and engaging in a tax reform process that could lower the rates generally while broadening the base.”
That’s almost exactly what Republicans are now proposing instead of raising tax rates! Obama is now saying there can be no deal if tax rates do not go up.
I wonder if anyone in the brave White House Press Corps will call Obama on this?
Here is a new Crossroads GPS ad that slams President Barack Obama for his handling of the “Fiscal Cliff” negotiations. The ad points out that Obama only wants to raise taxes and not deal with the real source of the nation’s debt problem – runaway Government spending.
Here is video of Sen. Jim Inhofe in an interview with NewsMax yesterday, where he said flatly that tax increases are not on the table, as far as he’s concerned, in the “Fiscal Cliff” negotiations. Inhofe said, “We have a President who’s obsessed with tax increases.”
Inhofe: “Our problem is spending too much, not taxing too little.”
On his plane yesterday, Vice-President Joe Biden reportedly talk with the press on board and told them that Barack Obama’s two-point victory over Mitt Romney is a “clear sort-of mandate” to raise taxes:
WEEKLY STANDARD: “Well look, I think — You guys have probably looked at the internals of the vote more than I have so far,” said Biden. “But from what it appears is that, on the issue of the tax issue, there was a clear, a clear sort of mandate about people coming much closer to our view about how to deal with tax policy. I think we can move, I’d like to see us, I think we can do something on corporate taxes sooner than later. That would be positive, be a little confidence-building. And you know I just think it’s going to take time for the Republicans to sort of digest what the consequences for them internally. But i just think there’s too much, I’ve been saying to you all along and I know I may be the only guy – well, I think Clinton shares this view, President Clinton, we talked about it. But I think the fever will break. And you know, Barack’s re-elected so this sort of cause to keep a second term from happening’s done. He’s there for four years. So I think there’s going to be – I hope there’s going to be some real soul-searching about, on Republican Party, about what they’re willing to cooperate on.” . . . Read More
VP Joe Biden on the Campaign Trail today said about the ticket of Barack Obama/Joe Biden: “Yes we do” want to raise taxes by $1 Trillion.
Here is a new Mitt Romney ad that hammers Barack Obama and the liberals for raising taxes on the Middle Class to pay for ObamaCare. The ad asks, “Who will raise taxes on the Middle Class?” The answer: “Obama and the liberals already have.” In fact, the ad cites the Congressional Budget Office as saying there are $1 Trillion in taxes – including some on the Middle Class – already coming down the pike “to pay for Government-run Health Care.”
Here is video of President Barack Obama today proposing an extension of the Bush Tax Cuts for people making under $250,000 a year, but allowing them to expire for anyone making more. Obama would raise taxes on the income range that includes many small business owners, despite the weak economy and dismal jobs numbers. Republicans would leave the tax cuts in place for everyone, and some of Obama’s Democrat allies want the tax cuts extended for everyone making up to $1 million a year.
President Obama will reportedly announce his support for a partial extension of the Bush Tax Cuts later this morning. But he is determined to raise taxes on people making $250,000 or more, a position that puts him at odds with Republicans and with some key leaders in his own party:
NEW YORK TIMES: With a torpid job market and a fragile economy threatening his re-election chances, President Obama is changing the subject to tax fairness, calling for a one-year extension of the Bush-era tax cuts for people making less than $250,000.
Mr. Obama plans to make his announcement in the Rose Garden on Monday, senior administration officials said. The ceremony comes as Congress returns from its Independence Day recess, and as both parties and their presidential candidates head into the rest of the summer trying to seize the upper hand in a campaign that has been closely matched and stubbornly static.
House Republicans plan to vote this month to extend permanently all of the Bush tax cuts, for middle- and upper-income people.
The president’s proposal could also put him at odds with Democratic leaders like Representative Nancy Pelosi of California and Senator Charles E. Schumer of New York, who have advocated extending the cuts for everyone who earns up to $1 million. And it will most likely do little to break the deadlock in Washington over how to deal with fiscal deficits, an impasse that has only hardened as Republicans sense a chance to make gains in Congress this fall. . . . Read More
Just what the U.S. Economy needs – tax increases on the very people who own businesses and create jobs. Robert Gibbs confirms that Barack Obama is committed to letting the Bush Tax Cuts expire, thus raising taxes, particularly on many of the small business owners who make $250,000 or more. In their world, soaking the “rich” with higher taxes helps the middle-class. Even reporter Candy Crowley seemed incredulous that is the economic strategy they plan on pursuing.
“American Crossroads” is out with this new ad on Barack Obama’s breaking his promise to not raise taxes on any family making less than $250,000 a year. Instead, through ObamaCare, he raises taxes on “struggling families.”