Paul L. Caron
Dean




Tuesday, August 4, 2009

Obama as Mondale: Five Reasons Why Middle Class Tax Hikes Are Coming

Reuters:  5 Reasons Why Obama Will Hike Middle-Class Taxes, by James Pethokoukis:

C’mon, how about some Walter Mondalesque candor from the Obama White House on taxes? ... [H]ere’s why it will happen eventually:

  1. Obama knows the budget math doesn’t work
  2. Obama seems to prefer tax hikes to spending cuts
  3. Obama has already tried raising taxes
  4. Obama’s advisers are for higher taxes
  5. Obama doesn’t seem to think high taxes are harmful

Bottom line: The belief in the need for higher, European-style taxes (like a VAT) fills the policy cloud that surrounds Obama. It’s hard to overstate this. It’s right up there with global warming. Obama knows he faces a looming fiscal crisis and higher taxes will be his weapon of choice. To paraphrase Mondale, “Obama will raise middle-class taxes. He won’t tell you (yet). I just did.

https://taxprof.typepad.com/taxprof_blog/2009/08/obama-as-mondale.html

News, Tax | Permalink

TrackBack URL for this entry:

https://www.typepad.com/services/trackback/6a00d8341c4eab53ef0120a4c67d30970b

Listed below are links to weblogs that reference Obama as Mondale: Five Reasons Why Middle Class Tax Hikes Are Coming:

Comments