Obama Calls for Massive Tax Increases of $1.5 Trillion Dollars
Published: September 19, 2011 at 11:24 am
President Obama on Monday proposed a deficit plan that calls for about three dollars in new tax increases for every dollar in additional spending cuts. Overall, the President is proposing tax increases of $1.5 trillion.
The President’s advisors acknowledged that the speech was a “ideological vision, rather than a compromise to the GOP”. In other words, it was a campaign speech designed to rouse his base—the left wing of the Democratic Party.
President Obama acknowledged last week that he may be a one-term president if voters’ patience with the pace of the economic recovery runs out by the next election. By making a campaign speech that showed no interest in working with House Republicans in job creation, the President seems to have given up any hope for improvement in the economy.
Rather than focusing on job creation, the President is changing the subject. He will try to blame the GOP next year for failing to repair schools and rusting bridges.
The English playwright and screenwriter, Robert Bolt once wrote, “When a man takes an oath…he's holding his own self in his own hands. Like water. And if he opens his fingers then — he needn't hope to find himself again.”
The President’s speech today was the equivalent of opening his hands and letting the hopes and dreams of middle class Americans fall right through. He abandoned his oath repeatedly made to the American people that he would stay focused on jobs, every day, all day, until the end of his term. This speech today wasn’t about jobs. We have yet to hear about the President’s job’s plan.
Obama's urgent jobs plan: Right now, 'right now' means sometime next month maybe, after he takes another vacation.
Raising taxes in general, especially coming down to income levels on working folks who are not exactly millionaires, could push this economy into a worse state than we are already in. Make no mistake about it, while the President talks about taxes on hedge fund billionaires, his plan calls for tax increases on income for families who are far from millionaires, let alone billionaires. These are the small business owners in America.
The President’s campaign speech today only makes the bitter partisanship that has gridlocked Washington even worse. There was no conciliatory move toward House Republicans, and the President's advisors acknowledged as much.
There’s a quasi-isolationist urge amongst Americans today, driven by the fear of losing yet even more American jobs to foreign countries. Americans want the President to focus on bringing those jobs back to America and holding on to the ones we already have.Continued on the next page