Driving the Week: Raising Taxes

Late Friday night, Congress agreed to a framework to fund the government for the remainder of the fiscal year.  President Obama was eager to claim credit, just as we predicted he would a few weeks ago.  As the Wall Street Journal noted, “Mr. Obama has now agreed to a pair of tax cut and spending deals that repudiate his core economic philosophy and his agenda of the last two years—and has then hailed both as great achievements.”

But do not expect President Obama to continue repudiating his core economic philosophy.  Over the weekend, senior White House adviser and campaign guru David Plouffe announced the President would soon lay out his plan to cut the deficit.  Core to the President’s plan – aside from Obamacare, ha! – will be tax increases.

Up until now, President Obama has largely avoided the discussion.  His 2012 budget proposal was a continuation of the status quo, leaving the recommendations of his prized deficit commission to whither in the dustbin of history.  According to Wall Street Journal, so surprising was the President’s sudden reengagement in the deficit issue, it caught Congressional Democrats completely off guard.

On Wednesday, we’ll see a sharp contrast.  President Obama will outline some modest reforms and propose the sort of tax increases he once admitted were harmful to a struggling economy.  Raise your hand if you’re surprised!

Please Share Your Thoughts

8 thoughts on “Driving the Week: Raising Taxes

  1. It’s time for DC to get real. There are billions of taxpayer dollars that do not need to be spent on needless programs and/or diverted to special interests. There are billions of dollars wasted in poorly managed programs that are needed. At what point in history do the American people get true leaders that can deal with the hard questions and not just attempt to solve it with higher taxes. Enough is enough! This country has many problems-spending is just one of them. Politicians must stop exploiting the taxpayer and start becoming principled administrators. This political correctness mentality must stop and be replaced with rational thought and traditional American values.

  2. It’s time for DC to get real. There are billions of taxpayer dollars that do not need to be spent on needless programs and/or diverted to special interests. There are billions of dollars wasted in poorly managed programs that are needed. At what point in history do the American people get true leaders that can deal with the hard questions and not just attempt to solve it with higher taxes. Enough is enough! This country has many problems-spending is just one of them. Politicians must stop exploiting the taxpayer and start becoming principled administrators. This political correctness mentality must stop and be replaced with rational thought and traditional American values.

  3. The House tried to get a deal and didn’t drive hard enough to uphold the conservative who put him there. Now I fear that he will sell out to the Democrats in the Senate instead of using the leverage the House currently enjoys. The evidence so far is that he will push and then sell out Rep. Ryan when the going gets tough. The Senate Republicans provide verbiage that they will back up the Speaker, but I don’t see many of them who have exhibited strong spinal fortitude, least of all Sen. Snowe. She of all needs to be defeated at the first opportunity.

  4. The House tried to get a deal and didn’t drive hard enough to uphold the conservative who put him there. Now I fear that he will sell out to the Democrats in the Senate instead of using the leverage the House currently enjoys. The evidence so far is that he will push and then sell out Rep. Ryan when the going gets tough. The Senate Republicans provide verbiage that they will back up the Speaker, but I don’t see many of them who have exhibited strong spinal fortitude, least of all Sen. Snowe. She of all needs to be defeated at the first opportunity.

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