Posted by
Bill Crawford on Thursday, April 01, 2010 9:09:00 PM
I've told you that Obama is the opposite of Reagan: Reagan used tax cuts to starve the government beast, and forced the spending to keep pace, or suffer the deficits.
Obama is feeding the beast as fast as he can, and will be proposing a few ways to raise taxes to make it somehow more responsible.
The immediate one is his cap and trade proposal- declaring hydrocarbons a regulatable substance, and then taxing corporations who deal in them, who can then tade credits or pass the tax to the consumer. If it doesn't get voted into policy (and they don't have the votes now), he will do it by Executive writ through the EPA. The purpose of this is to force conservation by raising the price of energy. This will not be cheap. I'm talking well over $1000 extra per year, per family.
Then they are musing about VAT (value added tax). This is an onerous tax that is done at every level of economic activity. Vat gets tacked on to raw material, again at manufacture, at shipping, storage and retail. This is how they do it in Europe, and it works.
The point is, this White House is now budgeted to run $1.5 trillion deficits in perpetuity, and the plan to close this comes from your pockets, folks.
The people that support him on this don't seem to care- they think we should all sacrifice more to conserve and run a proper government. I'll venture that few of them have working memories of the last two years of Jimmy Carter.
I do. This will not stand.