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Thread: Obama's second term budget plan: Get elected, then raise taxes...

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    Klaatu barada nikto Array title="suitanim has a brilliant future"> suitanim's Avatar

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    Obama's second term budget plan: Get elected, then raise taxes...

    http://www.ohio.com/editorial/ramesh...taxes-1.293834

    But here’s the dilemma. We can’t maintain the country’s historic rate of taxation and its current entitlement structure. If you want significantly more non-entitlement domestic spending than Ryan provides, you either have to restrain entitlements even more than Ryan does or collect even more tax revenue than Obama has suggested, or both. When the Congressional Budget Office applies its economic assumptions to Ryan’s budget, it finds that it reaches a balance in the 2030s. But Obama’s public proposals — raising taxes only on the rich and cutting defense — don’t achieve a balance ever.



    Obama, you may recall, has said he wants to keep the bulk of President George W. Bush’s tax cuts, allowing only those for high earners and investors to expire in 2013. But many Democrats have argued that he should let them all expire.



    If that is Obama’s plan, one could envision a strategy that gets him there without too much political suffering. He would continue to claim that he wants to avoid middle-class tax increases. He would win re-election. And then he would try to blame any increase in middle-class taxes on congressional Republicans, arguing that their insistence on extending all of the tax cuts left his party with no choice but to block any bill from passing.
    The advantage of this strategy is that it would yield a lot of deficit reduction without the need to get any legislation through Congress. It is thus more achievable than other deficit- reduction plans. But it amounts to raising middle-class taxes to avoid reining in middle-class entitlements. Wouldn’t it make more sense to let people keep their money rather than cycling it through Washington?



    If a big, automatic tax increase is Obama’s plan for the start of his second term, it’s not a good plan. But it is more alarming to think that he has no plan at all.
    Fire Goodell

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    Senior Member Array title="st33lersguy has a reputation beyond repute">

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    Re: Obama's second term budget plan: Get elected, then raise taxes...

    Not to mention Obama's spending explosion

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    Klaatu barada nikto Array title="suitanim has a brilliant future"> suitanim's Avatar

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    Re: Obama's second term budget plan: Get elected, then raise taxes...

    Quote Originally Posted by st33lersguy View Post
    Not to mention Obama's spending explosion
    That's all Bush"s fault.
    Fire Goodell

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