Posted on 08/29/2009 5:15:51 AM PDT by SeekAndFind
During last year's campaign, President Obama vowed to enact a bold agenda without raising taxes for the middle class, a pledge budget experts viewed with skepticism. Since then, a severe recession, massive deficits and a national debt that is swelling toward a 50-year high have only made his promise harder to keep.
The Obama administration has insisted that the pledge will stand. But the president's top economic advisers have refused to rule out broad-based tax increases to close the yawning gap between federal revenue and government spending and are warning of tough choices ahead.
Republicans are already on the attack, accusing Obama of plotting to break his no-tax vow, the same political transgression that cost Democrats control of Congress under former president Bill Clinton and may have cost president George H.W. Bush his job. Democrats say Obama is highly unlikely to break the pledge before next year's congressional election and observe that it would be safer to wait until his second term if a tax increase becomes unavoidable.
Some lawmakers are focused instead on setting up an independent commission to solve the deficit problem. Senate Budget Committee chairman Kent Conrad (D-N.D.) plans to hold hearings on the topic when Congress returns to Washington this fall.
Obama, meanwhile, has vowed to pay for any new initiatives and to draft an overhaul of the health-care system that eventually would save the government money, driving deficits down. But effective health reforms would take decades to produce savings. In the meantime, White House budget director Peter R. Orszag acknowledged, "there are additional steps that will be necessary."
"The administration is very concerned about these [future] deficits, and getting those deficits under control is a top priority of the administration,"
(Excerpt) Read more at washingtonpost.com ...
OK...anybody who is surprised by this ‘revelation’, please raise your hand. The doctor will be around with your meds, shortly.
There is no other way to fund the socialist slide than with very large tax increases, for generations to come.
It’s time to take back the country.
It won’t be called a tax, it will be called an “investment” and we all get to invest
or else
It isn’t that they won’t “rule it out.” They are already counting on it. A broad-based tax hike is inevitable. Math doesn’t lie.
What they don’t rule out is total confiscation of whatever assets they deem necessary for “national security” (401Ks, IRAs, savings, checking accounts, precious-metal purchases that can be tracked).
OBAMA LIED
ECONOMY DIED
The current bumper sticker on on my car
Uh, just who's mostly to blame for this? Sure, we had deficit spending during the Bush years (which the Democrats never let us forget), but those deficits are fond memories, now that those same Democrats have taken over and are spending like drunken sailors (nothing derogatory meant against sailors). And we haven't even seen the affect of cap-&-trade or Obama's un-Godly healthcare plan added to the mix.
It's pretty obvious that promise was NOT one he intended to keep at all.
The Obamaloon is gonna have to raise taxes.
Well, duh,
THAT is what I worry about and makes me feel helpless to protect my assets with these clowns in charge. Guess I should call Charlie Rangel.
Would that the Repubs had a real leader now who would be mounting a campaign to roll back the so-called “stimulus” spending in order to get our fiscal house more in order
and keep inflation somewhat at bay. Michael Steele, while a nice guy, doesn’t have the right stuff to lead the charge. Wish Newt were more prominent right now.
Pretty cocky, aren't they?
So, the solution will be to increase massive taxes until the Single Payer Government Health Care finally kicks in to actually payoff the debt several years down the road.
Until then........tax, and keep spending until it forces prosperity to emerge. Sounds like Democrat/Socialist logic to me.
Newt?!!!
BWAHAAAAA, HAAAAA, HAAAAaaaa! (ROFLMAO!)
Let's see.. City taxes are up for me, state and county sales taxes are up. My state income taxes have doubled, along with the fees to register my car. On the federal side, our taxes went up over a thousand dollars this year, so far.
Not much blood left in this turnip.
The price of food keeps going up, too. Wait until the cap and trade hits. We'll be a third world country after that.
Vote democrat - NOT!!!
A Tax increase ALWAYS results in a decrease in Tax REVENUES! Trying to "pay" for your idiotic plans for takeover guarantees a shrinking economy, and when you again raise Taxes you will cause an economic spiral down.
And, thus, you will ensure that no Community Organizer will ever again be considered for any elected office.
If someone were trying to DESTROY this nation I cannot think of what they would do differently than what is being done or proposed now. Why are tax-paying American Patriots they ONLY people with NO REPRESENTATION on Capitol Hill??
be constructive. give us your candidate to frame, organize and present a campaign to mobilize/galvanize conservatives.....??
Yep. It's a simple formula:
1. Cut taxes, which will
2. Spur economic growth, which will
3. Create new jobs, which will
4. Increase tax revenues
It's been proven to work over and over again.
It makes you wonder why the left is so against the concept. Unless of course they are not interested in economic growth...hmmm - I wonder.
If the RATS do away with the 10% bracket, the 1st 8350 will be taxed 50% more, then they’ll say it’s Bushs fault. None of the RATS or RINOS give a hoot if the tax rate doubles the lower income folks.
One thing missing from you equation is that more that 50% of voters are now takers from the treasury, rather than donators. Donators are now the minority, and will be such until a revolution takes place.
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