DANGER: TAX TRIGGER AHEAD
By DICK MORRIS
Published on TheHill.com on May 4, 2011
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A diabolical plot is being hatched between Senate Democrats, the White House and three Republican accomplices -- Tom Coburn (Okla.), Mike Crapo (Idaho) and Saxby Chambliss (Ga.). The concept is to enact an amendment to the debt-limit extension specifying certain targets for deficit reduction and then mandating automatic spending cuts AND tax increases to take effect if the goals are not met.
This formula permits backdoor tax increases on which nobody votes and no fingerprints appear. The taxes just happen automatically -- the immaculate conception tax increase. The plan will vindicate Obama's long-term goal: to expand the size of the government's share of the economy.
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I was hearing about some of this a couple weeks ago. The new Gang Of Six need to be neutered and shamed.