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Here Come the Tax Hikes (and the tea parties)

Reminiscent of Bill Clinton who only weeks (or was it days?) into his first term told the public he had worked harder than he had ever worked in his life, but he was not going to be able to keep his promise of middle class tax cuts. Washington Post reports:

President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on business and the wealthy and by slashing spending on the wars in Iraq and Afghanistan, administration officials said.

In addition to tackling a deficit swollen by the $787 billion stimulus package and other efforts to ease the nation's economic crisis, the budget blueprint will press aggressively for progress on the domestic agenda Obama outlined during the presidential campaign. This would include key changes to environmental policies and a major expansion of health coverage that Obama hopes to enact later this year.

A summary of Obama's budget request for the fiscal year that begins in October will be delivered to Congress on Thursday, with the complete, multi-hundred-page document to follow in April. But Obama plans to unveil his goals for scaling back record deficits and rebuilding the nation's costly and inefficient health care system Monday, when he addresses more than 100 lawmakers and budget experts at a White House summit on restoring "fiscal responsibility" to Washington.

In his weekly radio and Internet address today, Obama expressed determination to "get exploding deficits under control" and described his budget request as "sober in its assessments, honest in its accounting, and lays out in detail my strategy for investing in what we need, cutting what we don't, and restoring fiscal discipline."

Restoring fiscal disclipline? What? You have to admit the man has nerve saying he is for restoring fiscal discipline after just signing the Generational Theft Spendulus Bill of 2009. I wonder if the public will buy it now like they did before the election.

We were all warned of this by the revelation of Obama's slip of the tongue about spreading the wealth around, and anyone who really looked at what Obama was proposing during the election won't be surprised, but I have a feeling most did not believe John McCain and Joe the Plumber when they warned voters that Obama would raise taxes on businesses. Obama assured us that he wanted to cut taxes for 95 percent of Americans. That was the mantra. I don't think voters gave much thought to the rest of it. They better pay attention now. I predict tea parties all over the country this summer.

Doug Ross goes through the series of statements from Obama about who qualify as "the rich" and provides some historical perspective of past success of the policy of raising taxes on businesses during tough economic times.

President Obama might want to remember that Bill Clinton ended up admitting to business owners that "I raised your taxes too much" in 1993. It doesn't appear Obama is looking to learn from history's lessons.

Update: In case you have not yet received the 11 Most Expensive Catastrophes in History via email, here's a link.

The tea parties are already beginning -- no need to wait for the summer. Michelle Malkin has a listing of some of the events being planned already.


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Comments (23)

I actually think "paying fo... (Below threshold)

I actually think "paying for results" is a better system. I have a 6 month old daughter. Within 2 weeks of bringing her home, she got really sick. We ended up going to the doctor 4 times before the got it right. Each time we paid a co-pay, and they charged for the procedures, even the ones that didn't work. A program like this would require doctors to get it right, rather than just running the gamut of tests, procedures, etc.

I'm holding on to Hope that Bobby Jindal (or someone like him) steps forward and leads an aggressive charge and we're looking at a one termer.

Obama simply believes that ... (Below threshold)

Obama simply believes that the government and not the private sector can pull us out of the current economic recession (depression,crisis, catastrophe, whatever). I am not sure he really thinks much about the past and what has worked and what did not work, except for what might get whispered in his ear from his advisors. I am not sure he has his own inherent curiosity about these things. I am sure he truly believes in his own exceptionalism and no matter what has failed in the past - no matter how many times - will miraculously work under his guidance. And so far, he has convinced a significant number of people to believe the same thing.

Yeah, raising taxes during ... (Below threshold)

Yeah, raising taxes during a depression couldn't possibly have any negative effects; I mean those people just have too much money right now and John Kerry clearly knows how to spend it better than they do.
(rolls eyes)
I guess its nice to know that Obama wants to follow the lead of the California state legislature, the body that managed to change an economic powerhouse into a state that hemorages jobs and businesses like a third world country. I suppose he has been told that California's high taxes and regulations and current economic state are just coincidences.
All in all it looks like Obama is determined to wipe out any sort of positive effect his Stimulus may have had.

Be a helluva bumpy ... (Below threshold)

Be a helluva bumpy ride, I'm thinking.

GW is going to look pretty good ,in retrospect.

Upside, if TOO much damage isn't done, the progressives won't be able to mount a serious challenge for a LONG time.

Jimmy Carter is going to be... (Below threshold)

Jimmy Carter is going to be thanking the Obama Administration for making everyone forget how bad his presidency was, I believe.

Obama forgets one thing abo... (Below threshold)

Obama forgets one thing about RICH people. They can get up and MOVE ON. You can guess who's going to get stuck with taxes. You and me.
Not to worry about business. They'll be taxed to death and lay off workers. Which fits in with Obama's 'green energy'. With business closing, they won't need energy.

Obama's embracing the Calif... (Below threshold)

Obama's embracing the California model of economic stabilization and to pad his bipartisan credentials. So far he's got Collins, Specter, Snow, and Schwarzenegger. That's quite a staunch conservative showing, right there.

Pretty much every lefty who... (Below threshold)
John Irving:

Pretty much every lefty who spouted that inane line about "voting against their self-interest" should choke on those words.

What else can one ever expe... (Below threshold)

What else can one ever expect when the demacraps are running everything they want to tax and spend us into bankruptsy

Obama's plan is to tax the ... (Below threshold)

Obama's plan is to tax the 'rich'.

Of course, 'rich' now means anyone who makes more than a typical community organizer.

Unfortunately, the Republic... (Below threshold)

Unfortunately, the Republicans, having gotten into the habit during the Bush years of spending money like a sailor in a whorehouse, aren't in any position to lecture Obama on fiscal discipline without looking like royal hypocrites.

Rich means anyone that can ... (Below threshold)
retired military:

Rich means anyone that can pay their own mortgage.

By next summer I predict people will be mailing tea bags to congress by the thousands.

Obama probably wont count t... (Below threshold)
retired military:

Obama probably wont count the stimulus bill into this years budget numbers so there "his budget" wont be as bad as people think it is.

Smoke and mirrors, smoke and mirrors. Nothing to see here.

Within 6 months the govt will take over 401Ks (and give us a whopping 2 percent per year interest) so they can do to it like they did to social security. Spend it on their social programs while mortgaging our great great grandchildren.

Lori, Your link to... (Below threshold)


Your link to AmericanAngle (11 Most Expensive Catastrophes) should have a health warning appended because now


You know, if Congress didn'... (Below threshold)
wet willie:

You know, if Congress didn't ram through a trillion dollars in reckless porkbarrel spending in the name of "stimulus", we would probably not NEED a tax increase.

This drip, drip, drip stuff is really getting tedious. Seems to me Obama and his Socialist Congress could just save us all some trouble and simply round up those wealthy aristocrats (white Republicans only, please), confiscate their property in the name of the State and give some of it to the bourgeoisie. A couple of months of wet work with the guillotine and we solve our population problem, our fossil fuel problem, our immigration crisis, our reparations problem, and our cowardly social inequity problem. Voila. The Greatest President in History.

Like millions of other Amer... (Below threshold)

Like millions of other Americans, my wife and I are pulling our money out of the stock market, mutual funds and any other place (including savings accounts) we had it where it could be used to fuel the insanity now going on.

Converting it into "hard" assets that can't be tracked, traced, or mis-used isn't easy...and yes, the assets themselves are no longer "performing". But I prefer to STARVE the Socialist beast rather than feed it!

We're not rich...but what we HAVE saved is the result of a lfetime of work...and I will set fire to it before I will allow it to be stolen. Me and millions of others!

"Unfortunately, the Republi... (Below threshold)

"Unfortunately, the Republicans, having gotten into the habit during the Bush years of spending money like a sailor in a whorehouse, aren't in any position to lecture Obama on fiscal discipline without looking like royal hypocrites."

Okay, so let's say nothing at all and just do as we're told?

I have a feeling that by No... (Below threshold)
retired military:

I have a feeling that by Nov 2012 there will be tens of millions of people who will be saying "You know I was doing just fine until the govt decided to help me."

With the stimulus bill pass... (Below threshold)
James H:

With the stimulus bill passed and more spending coming round the bend, the feds have to come up with revenue somehow. Cutting government spending elsewhere is not going to happen; neither the Democrats nor the Republicans have proved very good at that. Which means taxes have to go up eventually. It's the responsible thing to do.

Everyone who works for a bu... (Below threshold)

Everyone who works for a business or owns a business or works for a rich person, please stand up. (Oh look, lots and lots of people)

Everyone who works for a non-business (would that be government jobs?) or a poor person, please stand up. (not so many)

I'm trying so hard to figure out how raising taxes on businesses and the rich can be a good thing when most everyone either works for or owns a business or works for a rich person? So punishing these people is Obama's idea of how to help stimulate this economy?

Democrats please enlighten me. Show me how raising taxes will stimulate the economy?

I imagine that many of the rich are the same people who own businesses. That would be a double whammy for those people. Why should they stay in business - they're rich, they don't need the extra pain in the ass, do they? Especially if they have the where-with-all to survive without the head ache of owning a business. Less businesses means less jobs. How is that a good thing? Taxing a business more only helps in reducing the work force that the businesses can afford to hire. Please show me I'm wrong, because I'd really like to see America prosper. Don't you?

What is stopping businesses from laying me off to make up for the increase in taxes?

Wealth redistribution - Good luck with that.

It seems to me that Obama's every move is to move away from capitalism, which has worked well for over 200 years, and push towards socialism or communism - to have everyone on the government dole.

And people are swooning over Obama.

Oh I keep forgetting - give him a chance once!!!

Okay. I'll wait. Let me know when Obama has done anything at all to help you or any working American.

I don't count throwing money at people who can't afford to pay back their home loan no matter how low the interest rate goes or how much money they throw at people who should never have qualified for a home loan in the first place. And now Obama is going to raise the taxes on the businesses and rich people who hire these struggling people. (2 + 2 = 5, what was I thinking?)

It seems to me that Obama is making more and more people reliant on the government. Shouldn't it be the other way around?

"...ask not what your country can do for you - ask what you can do for your country. " - JFK

I guess those days are long gone. What was Kennedy thinking? (don't tell anyone but Kennedy was a democrat)

It's going to get interesting, isn't it?

Obama's plan is to ta... (Below threshold)
John S:

Obama's plan is to tax the 'rich'.

Funny thing about that. Obama may restore the 91% top tax rate on millionaires to loud public approval. But 2 or 3 years of 25 to 50% inflation and everyone will be a millionaire. Even unemployment benefits will be $100,000 a week! Unfortunately, the $10,000 left after taxes will only buy a few cans of Alpo to feed your family.

THis is Obama's theme... (Below threshold)
retired military:

THis is Obama's theme

"...ask not what your country can do for you - ask what you can do for your country. " - JFK

The only thing is the next line is this

"I will tell you what you can do for your country. PAY MORE TAXES."

When Obama was making his c... (Below threshold)

When Obama was making his campaign promises he didn't say a thing about "excise taxes."

At that time I took an e-stroll back to Chicago to see how they were getting by.

Brace yourself because I think what I found out was going on in Chicago with taxes is coming to a city near:







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