Crush Liberalism

Liberalism: Why think when you can “feel”?

Night and Day, “Obama on raising taxes in a recession” edition

Obama today: Raising taxes on businesses and “the rich” are needed to fight the deficit I created.

Obama in 2009?  Not quite the same thing:

In August 2009, on a visit to Elkhart, Indiana to tout his stimulus plan, Obama sat down for an interview with NBC’s Chuck Todd, and was conveyed a simple request from Elkhart resident Scott Ferguson: “Explain how raising taxes on anyone during a deep recession is going to help with the economy.”

Obama agreed with Ferguson’s premise – raising taxes in a recession is a bad idea. “First of all, he’s right. Normally, you don’t raise taxes in a recession, which is why we haven’t and why we’ve instead cut taxes. So I guess what I’d say to Scott is – his economics are right. You don’t raise taxes in a recession. We haven’t raised taxes in a recession.”

Obama responded by reiterating his opposition to tax hikes during a recession and making an argument about timing. “We have not proposed a tax hike for the wealthy that would take effect in the middle of a recession. Even the proposals that have come out of Congress – which by the way were different from the proposals I put forward – still wouldn’t kick in until after the recession was over. So he’s absolutely right, the last thing you want to do is raise taxes in the middle of a recession because that would just suck up – take more demand out of the economy and put business further in a hole.”

Obama made a similar argument in December, when he signed the bipartisan tax relief agreement – a deal that maintained Bush tax rates (even for the wealthy) and included additional tax breaks for businesses. “Millions of entrepreneurs who have been waiting to invest in their businesses will receive new tax incentives to help them expand, buy new equipment or make upgrades – freeing up other money to hire new workers.”

Stephen Hayes asks what I am wondering:

If Obama was right and the tax breaks in that deal freed up money for job creators to hire new workers, isn’t the reverse true? Isn’t it the case that new taxes on entrepreneurs and other job creators will leave them with less money to hire new workers? And wouldn’t raising taxes on the “wealthiest” just “put business further in a hole,” as Obama believed just two years ago?

His economics were right. So why the change?

I always got a kick out of that line of thinking.  “Tax increases harm the economy.  Since the economy sucks right now, we don’t need to harm it further.  But once the economy recovers, THEN it’s a good time to harm the economy!”

When it comes to economics, ObaMao rides the short bus.

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July 11, 2011 - Posted by | economic ignorance, hypocrisy, Night and Day, Obama, taxes

1 Comment »

  1. And, apparently, they let him ride without his helmet with the faceguard on it, cuz he licks the windows. His handlers must be going nuts trying to keep up with his gaffes. He keeps giving away the direction they want to take this country. Off TOTUS, he IS a complete idiot.
    Stupid liberals, letting him say anything without TOTUS.

    Comment by J.Guidry | July 12, 2011


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