"Normally, you don't raise taxes in a recession, which is why we haven't...."
Today, Obama wants to raise taxes by $1.5 trillion....in the middle of high unemployment and slower consumer spending, and he wants to do it on the backs of the eeeeeevil rich (Reuters, via Michelle Malkin).
President Barack Obama, in a populist step designed to appeal to voters, will propose a “Buffett Tax” on people making more than $1 million a year as part of his deficit recommendations to Congress on Monday.
Such a proposal, among suggestions to a congressional supercommittee expected to seek up to $3 trillion in deficit savings over 10 years, would appeal to his Democratic base ahead of the 2012 election but likely not raise much in revenues.
The Socialist-in-Chief had the audacity to claim his proposal was "not class warfare, It's math." Yeah and if you believe that I have a lifetime in cheap energy from Solyndra to sell you.
Obama was boosted by his little billionaire buddy Warren Buffet, who complained recently how he pays less taxes than his secretary, and earned the sympathy of bleeding heart liberals across the country.
You know why Buffet pays less taxes than his secretary? He only pays capital gains taxes, not a regular income tax that his secretary pays. Big difference.
Never mind that Warren the Phony Guilty Liberal could voluntarily pay more in taxes by writing a bigger check, and his company could also pay their own back taxes.
How about Obama's other buddy Jeffrey Immelt, who is head of GE? Did you hear GE pays no taxes, and yet gets a $3.2 billion rebate from the government?
First of all, giving Obama more tax money is akin to , as P.J. O'Rourke once said, giving whiskey and car keys to your teenage son. We've already seen how billions of dollars are given to so-called "green jobs" schemes that end up bankrupt and with taxpayers holding the bag.
Anyone with half a brain will tell you that more taxes means higher prices, less hiring and even layoffs for our economy.
But try explaining that to Obama. Community organizers have never had to hire people, write paychecks, or sell a product.