July 06, 2009
A Reminder About Obama's Budget Plans
Fred Hiatt of the Washington Post points out this inconvenient truth about the need to "fatten the beast" in the Era of Hope'N'Change.
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You cannot run a progressive government of the kind Obama favors by collecting only 18 percent of the gross domestic product in taxes, which has been the norm over the past 40 years. Nor can you increase the tax take to 24.5 percent of GDP -- which is what Obama proposes to be spending in 2019 -- simply by making the rich pay more.
And if you can't limit those tax increases to the super-rich making over $250,000. . . $200,000. . . $100,000 a year, then taxes are going to need to be raised somewhere. The only place left, of course, is the middle class -- you know, those of us making over $40,000 a year. The people who Obama swore would not see their taxes increased to pay for his programs.
Is this the Change you've been Hoping for?
More At Hot Air
Posted by: Greg at
02:15 AM
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