Skip to comments.Obama Economist: Taxing Junk Food Will Help Prevent Fiscal Cliff
Posted on 11/26/2012 4:04:37 PM PST by Tolerance Sucks Rocks
Obamas former chief economist Larry Summers thinks that one way to break Americas fall off the over-reported fiscal cliff is to raise taxes to the level they were under Clintons administration. Echoing Paul Krugmans 90% tax rate nostalgia and pointing out that it was conservative icon Ronald Reagan who cut taxes to 50%, he said, Its hard to believe that raising the top tax rate to 39.6 percent where it was under President Clinton will do grievous damage to the economy. Of course, Reagan also cut the top tax rate to 28% in his second term, but thats beside the point.
Raising already existing taxes is only one way to cushion our fall. Summers, a professor at Obamas alma mater, is certain that soon well have taxes on carbon, energy and junk food. In fact, he was surprised that Americans didnt yet have a tax on carbon and energy, considering that carbon and energy usage is directly related to the solar cycles that affect global temperatures. Or so liberals think. Taxing such usage will surely convince the sun to alter its behavior so that the average global temperature will go down a couple degrees and stop all the hurricanes from ruining everybodys lives. And if taxing doesnt work, just tax more.
(Excerpt) Read more at godfatherpolitics.com ...
I would consider this to be a regressive tax on the poorest among us. The leftists have no shame.
Nanny State PING!
did they include a tax on Christamas sweaters for pet unicorns?
that could help.
This is not about raising revenue, it’s about punishing behavior they don’t like.
They can take my life but they can never
take my Twinkies!
“In fact, he was surprised that Americans didnt yet have a tax on carbon and energy, considering that carbon and energy usage is directly related to the solar cycles that affect global temperatures”
And how precisely is that related Larry?
The last twinkie is a freeper....
Listen folks, these bastards are going to try to tax everything. They are simply NEVER going to cut spending.
You are already seeing the rationale building for nothing but tax increases.
Oops, sorry, the Twinkies are already effectively removed from the market.
Only the very wealthy or very extravagant may have access to them now....
Taxing “junk food” as a revenue source is the equivalent of spitting in the ocean. The tsunami thus created will in all probability escape any notice.
I will probably catch a lot of flack for saying this, but the proposed junk food tax is one of several situations where when we don’t control ourselves, our meddling government steps in and does it for us.
Might as well try food.
We tried to warn people.
The next thing that will be taxed is the air that you breathe - oh, wait - it already is.
What part of Art 1, Sec 8 of the Constitution of the United States gives Congress the authority to do that?
Laffer will be laughing.
Smokers have been telling us for years that something WE love will be taxed and punished by the government someday soon. The Left never stops.
Before you know it, there’ll be a tax on mountain climbing equipment.
But AIDS... heck, the gov’t will encourage you to get that.
One just doesn’t know whether to laugh or cry...
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