The Obama Tax Trap

WSJ ^ | July 2, 2010 | WSJ Editorial

[SmartInsight]

You don't need a Mensa IQ to figure this one out. Mr. Obama's plan has been to increase spending to new, and what he hopes will be permanent, heights. Then as the public and financial markets begin to fret about deficits and debt, he'll claim that the debt is "unsustainable" and that the only "responsible" policy is to raise taxes.

White House officials even talk privately about the galvanizing political benefit of a bond market crisis, which would force panicked Members of Congress to accept a big new value-added tax. The President's two looming tax reports—one from his deficit commission and the other from Paul Volcker's economic advisory group—are intended to propose a VAT and other tax options. Whatever their initial reception, the proposals will be there to be pulled from the shelf when the political moment is right.

[SmartInsight]

After huge spending, Obama is ready to manufacture another crisis, to force a monumental tax increase, by making Congress pass a VAT.

[Waryone]

When a system goes unstable, it is easy to help it continue along that path; much more difficult to change it.

[RC one]

like I wrote earlier tonight, democrats are scrambling to create new taxes because they have failed to create new jobs. It's the increased tax burden falling upon the shoulders of fewer and fewer tax payers. It's a big flashing neon sign that says: EPIC FAILURE.

[ScoopAmma]

Why don’t they just pass a law demanding we work our butts off, live in some type of commune, eat beans and rice (recipes for tasty meals available from all of our amnestied fellow citizens) and put us on some type of allowance? Giving is so much easier than taking.

[ScoopAmma]

If I hear one more idiot (Obey just now) use the word “gotten” I will go insane. Odds are good. Barbara Lee is up next.

[Chunga]

What’s wrong with “gotten?”

[runninglips]

0 can easily cut the deficit spending by 3/4ths. Just take us back to GW’s deficits of 400 billion, and he can claim to be a deficit hawk.

[ScoopAmma]

It indicates to me a lack of knowledge and respect for the English language. It can easily be replaced by “have received”, “have obtained”, “had learned”, etc. It is a lazy and ignorant way to express intent.

[Blado]

but, but... you mean there’s something wrong with ill gotten gains?

[Vaduz]

Obama is useing Pelosi logic VAT will create jobs.The more taxes the feds get the more they can spend for jobs,it’s for the children ya know.

[ding_dong_daddy_from_dumas]

You don't need a Mensa IQ to figure this one out. Mr. Obama's plan has been to increase spending to new, and what he hopes will be permanent, heights. Then as the public and financial markets begin to fret about deficits and debt, he'll claim that the debt is "unsustainable" and that the only "responsible" policy is to raise taxes.

Yep.

[Lancey Howard]

LOL, yeah, this editorial can’t be posted enough times.

[stephenjohnbanker]

Exactly. Now that all of his “fellow travelers” have been properly paid off.

[stephenjohnbanker]

“fellow travelers” = communists and union thugs