Posted on 09/08/2008 4:54:57 AM PDT by ritewingwarrior
WASHINGTON (AP) - Democrat Barack Obama says he would delay rescinding President Bush's tax cuts on wealthy Americans if he becomes the next president and the economy is in a recession, suggesting such an increase would further hurt the economy. Nevertheless, Obama has no plans to extend the Bush tax cuts beyond their expiration date, as Republican John McCain advocates. Instead, Obama wants to push for his promised tax cuts for the middle class, he said in a broadcast interview aired Sunday. "Even if we're still in a recession, I'm going to go through with my tax cuts," Obama said. "That's my priority." What about increasing taxes on the wealthy? "I think we've got to take a look and see where the economy is. I mean, the economy is weak right now," Obama said on "This Week" on ABC. "The news with Freddie Mac (FRE) and Fannie Mae (FNM), I think, along with the unemployment numbers, indicates that we're fragile." Obama was referring to the two mortgage companies taken over by the federal government Sunday in what could become a huge taxpayer bailout. The nation's unemployment rate climbed to 6.1 percent in August from 5.7 percent the month before, the government said last week. It was the first time in five years that the unemployment rate had topped 6 percent. Obama and McCain have sparred over tax policy for months. Obama says McCain wants to continue Bush administration policies, noting that McCain had voted against the Bush tax cuts but then embraced them as he campaigned for the Republican presidential nomination. "John McCain likes to talk about fiscal responsibility, but there is no doubt that his proposals blow a hole through the budget," Obama said.
(Excerpt) Read more at apnews.myway.com ...
You have to fatten the calf before you sacrifice it.
I think a better way to put it would to be ask why Obama wants to increase taxes on the highest income earners if he knows it will hurt the economy.
Good for Obama that he realizes this is a disaster, but on the other hand, ITS HIS ENTIRE ECONOMIC PLATFORM. HE JUST THREW HIS ENTIRE AGENDA, AND ATTACK THEME, out the window.
He’s in a blind panic.
No. He only has an understanding that’s he’s going to lose. He sure made a quick u-turn. When Sarah hit town, Obama turned around. He a complete fraud!
So, Obama understands how increasing taxes hurts the economy. Such an admission, in light of the fact that he still plans a huge tax increase, just makes him and all Democrats bigger jerks.
It's easier to forgive their ignorance if we believe they are truly ignorant, but this admission by the Obamessiah is a paradigm shift in previous leftist positions on taxes.
Basically, then, it means they just want more money to buy more votes and they could care less who gets hurt as a result. These are the "compassionate, caring" Dems who are always fighting for the little guy and the underdogs.
Uh-huh.
“Obami has no understanding of economics. He is scared and pooping his pants. This is just rhetoric.”
He is the son of a communist economist (an oxymoron if I ever heard one!)
Besides - remember Bill’s campaign promise to cut taxes?
How long did it take him to break that promise?
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