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Obama Economist: Taxing Junk Food Will Help Prevent Fiscal Cliff
Godfather Politics ^ | November 26, 2012 | Philip Hodges

Posted on 11/26/2012 4:04:37 PM PST by Tolerance Sucks Rocks

Obama’s former chief economist Larry Summers thinks that one way to break America’s fall off the over-reported fiscal cliff is to raise taxes to the level they were under Clinton’s administration. Echoing Paul Krugman’s 90% tax rate nostalgia and pointing out that it was conservative icon Ronald Reagan who cut taxes to 50%, he said, “It’s hard to believe that raising the top tax rate to 39.6 percent — where it was under President Clinton — will do grievous damage to the economy.” Of course, Reagan also cut the top tax rate to 28% in his second term, but that’s beside the point.

Raising already existing taxes is only one way to cushion our fall. Summers, a professor at Obama’s alma mater, is certain that soon we’ll have taxes on carbon, energy and junk food. In fact, he was surprised that Americans didn’t yet have a tax on carbon and energy, considering that carbon and energy usage is directly related to the solar cycles that affect global temperatures. Or so liberals think. Taxing such usage will surely convince the sun to alter its behavior so that the average global temperature will go down a couple degrees and stop all the hurricanes from ruining everybody’s lives. And if taxing doesn’t work, just tax more.

(Excerpt) Read more at godfatherpolitics.com ...


TOPICS: Business/Economy; Constitution/Conservatism; Culture/Society; Editorial; Government; News/Current Events
KEYWORDS: carbon; carbontax; cigarettetax; climatechange; diabetes; energy; fiscalcliff; globalwarming; globalwarminghoax; health; junkfood; lawrencesummers; nannystate; nutrition; obama; obesity; smoking; taxes; tobacco
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1 posted on 11/26/2012 4:04:44 PM PST by Tolerance Sucks Rocks
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To: Tolerance Sucks Rocks

I would consider this to be a regressive tax on the poorest among us. The leftists have no shame.


2 posted on 11/26/2012 4:07:09 PM PST by CountryClassSF
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To: Eric Blair 2084; SheLion; Gabz; Hank Kerchief; 383rr; libertarian27; traviskicks; bamahead; CSM; ...

Nanny State PING!


3 posted on 11/26/2012 4:08:23 PM PST by Tolerance Sucks Rocks (Obama should change his campaign slogan to "Yes, we am!" Sounds as stupid as his administration is.)
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To: Tolerance Sucks Rocks

did they include a tax on Christamas sweaters for pet unicorns?

that could help.


4 posted on 11/26/2012 4:09:00 PM PST by TurboZamboni (Looting the future to bribe the present)
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To: 11B40; A Balrog of Morgoth; A message; ACelt; Aeronaut; AFPhys; AlexW; alrea; America_Right; ...
DOOMAGE!

Global Warming PING!

You have been pinged because of your interest in environmentalism, alarmist wackos, mainstream media doomsday hype, and other issues pertaining to global warming.

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Please ping me to all note-worthy threads on global warming.

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5 posted on 11/26/2012 4:10:44 PM PST by Tolerance Sucks Rocks (Obama should change his campaign slogan to "Yes, we am!" Sounds as stupid as his administration is.)
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To: Tolerance Sucks Rocks

This is not about raising revenue, it’s about punishing behavior they don’t like.


6 posted on 11/26/2012 4:11:17 PM PST by GeronL (http://asspos.blogspot.com)
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To: Tolerance Sucks Rocks
Everything but broccoli will be taxed.
7 posted on 11/26/2012 4:15:06 PM PST by bgill (We've passed the point of no return. Welcome to Al Amerika.)
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To: GeronL

They can take my life but they can never
take my Twinkies!


8 posted on 11/26/2012 4:15:06 PM PST by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: tet68

LOL


9 posted on 11/26/2012 4:17:53 PM PST by NonValueAdded (Happy 10th FR birthday to meeeeeeeeee)
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To: Tolerance Sucks Rocks

“In fact, he was surprised that Americans didn’t yet have a tax on carbon and energy, considering that carbon and energy usage is directly related to the solar cycles that affect global temperatures”

And how precisely is that related Larry?


10 posted on 11/26/2012 4:18:40 PM PST by headstamp 2 (What would Scooby do?)
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To: tet68; Twinkie

The last twinkie is a freeper....


11 posted on 11/26/2012 4:18:48 PM PST by GeronL (http://asspos.blogspot.com)
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To: Tolerance Sucks Rocks

Listen folks, these bastards are going to try to tax everything. They are simply NEVER going to cut spending.

You are already seeing the rationale building for nothing but tax increases.


12 posted on 11/26/2012 4:20:31 PM PST by headstamp 2 (What would Scooby do?)
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To: tet68

Oops, sorry, the Twinkies are already effectively removed from the market.

Only the very wealthy or very extravagant may have access to them now....

Taxing “junk food” as a revenue source is the equivalent of spitting in the ocean. The tsunami thus created will in all probability escape any notice.


13 posted on 11/26/2012 4:23:39 PM PST by alloysteel (Bronco Bama - the cowboy who whooped up and widened the stampede.)
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To: Tolerance Sucks Rocks

I will probably catch a lot of flack for saying this, but the proposed junk food tax is one of several situations where when we don’t control ourselves, our meddling government steps in and does it for us.


14 posted on 11/26/2012 4:24:14 PM PST by Hound of the Baskervilles ("Nonsense in the intellect draws evil after it." C.S. Lewis)
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To: Tolerance Sucks Rocks
Well, they reached the "fiscal cliff" when it came to taxing gasoline, cigarettes, yachts and whatever else they have tried to tax out of existence.

Might as well try food.

We tried to warn people.

The next thing that will be taxed is the air that you breathe - oh, wait - it already is.

Never mind.

15 posted on 11/26/2012 4:29:44 PM PST by elkfersupper ( Member of the Original Defiant Class)
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To: Tolerance Sucks Rocks
I'm thinkin' Ole Larry's had a few Twinkies hisself...


16 posted on 11/26/2012 4:32:55 PM PST by nascarnation (Baraq's economic policy: trickle up poverty)
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To: Hound of the Baskervilles
where when we don’t control ourselves, our meddling government steps in and does it for us.

What part of Art 1, Sec 8 of the Constitution of the United States gives Congress the authority to do that?

/johnny

17 posted on 11/26/2012 4:36:06 PM PST by JRandomFreeper (Gone Galt)
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To: Tolerance Sucks Rocks
Go ahead with the Twinkie tax.

Laffer will be laughing.

18 posted on 11/26/2012 4:39:08 PM PST by Paladin2
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To: CountryClassSF

Smokers have been telling us for years that something WE love will be taxed and punished by the government someday soon. The Left never stops.

Before you know it, there’ll be a tax on mountain climbing equipment.

But AIDS... heck, the gov’t will encourage you to get that.


19 posted on 11/26/2012 4:48:58 PM PST by Marie ("The last time Democrats gloated this hard after a health care victory, they lost 60 House seats.")
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To: Tolerance Sucks Rocks

One just doesn’t know whether to laugh or cry...


20 posted on 11/26/2012 4:51:44 PM PST by metesky (Brethren, leave us go amongst them! - Rev. Capt. Samuel Johnston Clayton - Ward Bond, The Searchers)
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