Monday, April 16, 2012

Brilliant: Looming Obama Tax Hikes Threaten To Send Economy Into Real Depression

The invaluable Jim Pethokoukis explains the anchor about to lasso the economy and drag it under.

If you combine all the other tax increases from 1980-1993, they add up to 3.3% of GDP, according to the brilliant budget team at Strategas Research. The coming “taxmageddon” of 2013 surpasses all those tax hikes combined!

How could the Obama White House even toy with the idea, which it has, of letting them happen?

How could Democrats let this happen?

Simple. For this group of radical Leftists, ideology trumps reason, history, experience and logic.

Plus, our beloved Golfer-in-Chief is "historic".


Anonymous said...

As bad as Obama is the cure may be no better. Rommney sent up trial ballons proposing the elimination of property taxes and state income tax deductions. Someone remind me again why Romney is considered such a enuch.

Tevion said...

You've created a ridiculously huge debt unprecedented in your history by any standard. To pay it off you need to raise taxes. That those tax increases are large should result in zero people fainting, fake fainting not included.

Meanwhile since when did anyone care about averting a depression? The size of the stimulus spending was protested for being too high by the same ranks, not too low. Every economist worth his salt along with every history book told you how that works out in the wake of a huge economic crash.

The Tea Party was formed to protest all around the country for..... remind me? More stimulus spending to avert an extended recession or less?

What exactly is the common thread here other than a bunch of people protesting fiscal responsibility?

creeper said...

Looking at that graph, it comes to mind that this gargantuan tax hike is going to be a really handy tool for keeping JohnQ broke and in line.

We are being assaulted socially, economically and physically by leftists who would rather destroy this country and her citizens than leave office. (Or, in the case of BHO, who took the office in order to destroy the country.) From now until election day, every single word you read in the MSM will be chosen for how it affects Obama's chances of re-election.

We've been living in a depression for four years. It's the norm for many people now. They're not going to squawk when things get worse because the truth is, for many it can't get much worse. They're already at rock bottom.

Obama's gambling that the MSM will cover for him no matter what outrage he perpetrates. From what we've seen so far, he's right.