Posted on 09/07/2010 6:04:50 AM PDT by blam
Departed Obama Aide Now Says Ending Bush Tax Cuts Will Make Unemployment WORSE
Joe Weisenthal
Sep. 7, 2010, 6:31 AM
The newest member of the New York Times' stable of columnists is Peter Orszag, who just recent quit his post as Obama's top aide on the budget.
His first piece is on the question of the tax cuts, and guess what, he doesn't share the administration's official line.
In fact, he says, revoking the Bush tax cuts will make the jobs picture worse.
Higher taxes now would crimp consumer spending, further depressing the already inadequate demand for what firms are capable of producing at full tilt. And since financial markets don’t seem at the moment to view the budget deficit as a problem — take a look at the remarkably low 10-year Treasury bond yield — there is little reason not to extend the tax cuts temporarily.
Notice the key word is temporarily.
He still thinks that the government should announce the eventual revocation of the tax cuts (for a couple of years down the road) as a way of showing deficit-fighting seriousness.
But the bottom line is that while Geithner and Obama argue that taxing the rich more will have no negative impact, Orszag clearly disagrees.
[snip]
(Excerpt) Read more at businessinsider.com ...
Krugman: If The Bush Tax Cuts Are Extended, Then It's Time To Lose All Faith In America's Future
Somebody needs to tell this guy that when departing staffers pass from the Obama Administration through the revolving door to the Lame Stream Media, they don’t need to suddenly start telling the truth.
Which of us is surprised at this news?
Every first year economics student knows ...
1. Whatever the government taxes, diminishes
2. Whatever the government funds, increases
Our government wants to tax (punish) success.
Our government wants to fund (reward) sloth and stupidity.
Only a Leftist would be too stupid to draw the correct conclusions from the above.
His hair piece is aweful
Which of us is surprised at this news?
Every first year economics student knows ...
1. Whatever the government taxes, diminishes
2. Whatever the government funds, increases
Our government wants to tax (punish) success.
Our government wants to fund (reward) sloth and stupidity.
Only a Leftist would be too stupid to draw the correct conclusions from the above.
..unless that is the objective.............
It shows that they don’t seem to have any fear of the administration. This would have never happened under the Clintons.
We should tax the lawyers.....
Being ‘Obama’s top aide on the budget’ is like being Custer’s top aide on defensive stands.
So, all the time he was working for the Administration and advocating job-killing tax increases, he knew what he was doing was harmful to the economy, but sold out his principles for a fancy title and a paycheck?
And we should listen to this guy now... why?
He actually paid someone to do that............
"seen better rugs at an everything must go sale at Akbar used camel rentals"
Gee, who (besides Bammy and his sycophants) didn't see this coming??
Well, Duh!
I like that phrase, “New York Times’ stable of columnists”, you can almost smell the horse manure.
The Bush tax cut extension will require new legislation from a democrat party congress. If they just do nothing, they get a tax hike without having to vote for it. Most businesses have figured out that this gang will never lower tax rates and there is rumors of a VAT coming in January as well. Add to that that this current government has lost all credibility.
I thought that was a hat!
the Dems’ economic policy is just unraveling at breakneck speed
http://www.nytimes.com/2010/09/07/opinion/07orszag.html?_r=1&scp=2&sq=Orszag&st=cse
Orszag’s Column in the NYT
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