Barney Frank will have a big influence if the Dems continue to hold the House and Senate – and will be even more powerful if Barack Obama wins the White House.

HereÂ’s what he tells us are the goals of Democrats if that happens.

Case in point: Rep. Barney Frank (D-Mass.), who has told a hometown newspaper House Democrats will seek a 25 percent reduction in defense spending upon Obama's ascension.
Oh, and stand by for a big tax hike.
* * *

"We'll have to raise taxes, ultimately," Frank said. "Not now, but eventually."

So forget all that stuff about higher taxes only for the top 5% of earners and cuts for the rest of us – your taxes will be going up, one way or another.

Especially as they define “the wealthy” down from those couples making $250K to those making $200K and finally to those couples making $100K – in other words, a good chunk of two-income middle class families.

And while my taxes wonÂ’t be increased (my wife and I have only one income, and I am a teacher so donÂ’t have to worry about making anywhere near any of those figures above), I will be paying higher prices when I head to the store and seeing smaller pay raises as the economy slows and my district lacks the ability to increase my compensation at the 3% or 4% annual increase we usually see. Anyone who actually understands the economics of tax increases knows that is how it always works.

And as for those defense cuts -- they are clearly a case of CHANGE that puts the safety of this country last in the HOPE that our nation's enemies will play nice as we disarm.

Posted by: Greg at 11:56 AM | Comments (1) | Add Comment
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