Link to original WSJ article, interview with Mundell.
http://online.wsj.com/article/SB121400327981993375.html
“Democratic nominee Barack Obama regularly professes disdain for the Bush tax cuts, suggesting that those growth-spurring measures may be scrapped. “If that happens,” Mr. Mundell predicts, “the U.S. will go into a big recession, a nosedive.”
One of the original “supply-side” economists, he has long preached the link between tax rates and economic growth. “It’s a lethal thing to suddenly raise taxes,” he explains. “This would be devastating to the world economy, to the United States, and it would be, I think, political suicide” in a general election.”
All of the answers I’ve heard out of Obama regarding taxes have revealed him to be just a huge dumbass,
and a Marxist.
To him, it didn’t matter what the results or effects of his tax policy would be, it was “simply a matter of fairness” - that was his throw-away line.
True. And I'm no fan of the current GOP Noodles, but if they're smart (big "if"), they'll keep their powder dry until after Ears gets the nom.
Otherwise, if they do it now, it may weaken him enough to bring back Thunder Thighs.
The great thing about Obama is that he will be ineffectual. His intellectual vacuum is so deep, anything he tries is destined to fail, sinking the Dems with him.
Hope he doesn’t get the chance. McCain is 50% awful, Obama is 95% awful.
The reason Clinton got away with his tax increase was the economy was booming along. Raising taxes in the middle of a recession is the kiss of death.
Who are these Re...pub...li...cans of which you speak?
I doubt Obama took any of Dr. Mundell’s classes at Columbia.
Yes, he has the ammunition, but remember McCain voted against the Bush tax cuts. Of course that coincides with his self-admitted lack of knowledge about economics. I have my doubts about McCain's ability to phrase the arguments correctly.
I’m going to assume Mr. Mundell was not invited to today’s economic meeting where they are attempting to define “obamanomics”?
No new taxes, Obamanation.