Tax rates are already set for next year.
Obama cannot affect tax rates until 2010.
My point was not about what he will or wont do to tax rates.
My point was that even at the current tax rates, the federal government is not going to have enough money to run itself.
We are talking about decades of wealth building that will be reported as losses in a single year. Can someone please tell me how Obama plans on handling this one?
What happens to the inner cities and population centers when the welfare payments stop coming?
They can pass retroactive tax increases like they did in 93,which the courts held up as non ex post facto!