In his constant attempts to engage in class-warfare, President Obama announced today that he is seeking an end to the Bush tax cuts for those who make more than $250,000 a year, saying “We don’t need more top-down economics.”
Now that the election is only four months away, Obama has abandoned his 2009 anti-tax increase rhetoric in favor of adopting this policy that fits in with his narrative of portraying Mitt Romney as an out-of-touch, rich, elitist who does not understand the middle class.
Today on Sean’s radio show he played a clip from 2009 in which Obama said ‘normally you don’t raise taxes in a recession, which is why we haven’t.” Sean noted that just because he’s calling them “penalties” doesn’t mean he has not raised taxes and that we should not be fooled by his rhetoric. Penalties are taxes! Sean reminds us that unemployment has been above 8% for majority of his presidency and the unemployment level is the highest it’s been in 27 years. ‘Obama ‘will have the worse jobs record of any president in modern history’ says Sean.
Despite campaign adviser Robert Gibbs’ claims in an interview with the Today Show that “But for millionaires and billionaires, they don’t need a tax cut,” people making $250,000 a year are not millionaires and billionaires and will be seriously hurt by this proposal. As Senate Majority Leader Mitch McConnell said, this plan is a “call for tax hikes on small businesses.”
Furthermore, in 2009 there was a higher rate of growth than there is now. If Obama was serious in his statement that taxes shouldn’t be raised in a recession then he would absolutely not propose this tax cut expiration given that we are recovering at an even worse rate than we were in 2009.