We'll Need to Raise Taxes Soon

The Wall Street Journal ^ | 06-30-09 | ROGER C. ALTMAN

[GOP_Lady]

Expect Congress to seriously consider a value-added tax.

Only five months after Inauguration Day, the focus of Washington's economic and domestic policy is already shifting. This reflects the emergence of much larger budget deficits than anyone expected. Indeed, federal deficits may average a stunning $1 trillion annually over the next 10 years. This worsened outlook is stirring unease on Main Street and beginning to reorder priorities for President Barack Obama and the Democratic congressional leadership. By 2010, reducing the deficit will become their primary focus.

[Uncle Miltie]

Time to move some more capital out of the U.S.

[Nervous Tick]

VAT? That’s OK. ‘cause Bambi assured me that ANY tax increase would only hit “the rich”, and I don’t make $250,000.

So by his definition, it won’t affect me. Just the “rich”.

Bambi’s a man of his word, unlike all those OTHER politicians.

Isn’t he?

[GOP_Lady]

Indeed.

BHO raised taxes on tobacco products, but that doesn’t count.

[umgud]

You must not have read his lips.

[A message]

This challenge may be the toughest one Mr. Obama faces in his first term. Fortunately, the new president is enormously gifted. That's important, because it is no longer a matter of whether tax revenues must increase, but how.

The last paragraph made me nauseous to be polite.

Soon the hope and change morons will realize that tax cut for 95% of Americans was the outright lie we here knew it was.

[ExTexasRedhead]

http://www.usdebtclock.org/

[dalereed]

Eliminate all programs that don’t qualify under the Constitution!

Then lower taxes!

[GOP_Lady]

I guess my view of his lips was blocked by his teleprompter. I’m sorry.

[GOP_Lady]

AHHH!

Hope you’re having a nice evening, my dear. :-)

I was, until I saw that. LOL.

[Nervous Tick]

>> BHO raised taxes on tobacco products, but that doesn’t count.

“First, they came for the smokers. But I don’t smoke, so that was okay...”

[umgud]

Coulda been the ears.

[RandallFlagg]

BHO raised taxes on tobacco products, but that doesn’t count.

Beat me to it.
Damn SCHIP bill....

[GOP_Lady]

Gee, I wonder what’s “not to going to count” next?

A person’s word IS important.

[GOP_Lady]

Sorry, I’ll be slower than my usual self next time. :-)

[GOP_Lady]

That’s it!!!

It was THE COMBO!

[GOP_Lady]

We are in very serious situation here.

[Nervous Tick]

A person’s word IS ought to be important.

[lowbridge]

We'll Need to Raise Taxes Soon

No. We need to cut spending soon. Now is better than soon.

[Post Toasties]

This reflects the emergence of much larger budget deficits than anyone expected. Indeed, federal deficits may average a stunning $1 trillion annually over the next 10 years.

Oh, Puhleeze. Anybody without their head wedged up 0bama knew trillion dollar yearly deficits were coming if he got into office with a Democrat controlled Congress. I was calling it nearly a year ago.