Remember this line? Read My Lips, No New Taxes!
That was Bush41 and it cost him a second term.
Well, guess what? There’s a guy named Obama who said this: if you make less than $250,000 your taxes will not go up. Not one dime." Nevermind that the figure changed to $200,00 and then to $150,000.
The point is, that you already have new taxes (cigarettes that hit the poorest sector) and a whole bunch to come. They cannot be called "taxes" but are you that dumb to let him get away with that obvious ploy? If it costs you more money than it did 6 months ago, it’s a NEW TAX!!
That Cap and Trade is an innocuous name for a huge tax on electricity! One that could cost each American family $2000-$3000 per year. The law is the same as Al Gore’s BTU tax which was the centerpiece of Clinton’s 1993 tax program. Eventually, Clinton replaced it with a flat 5 cent gasoline tax. But the idea of taxing utility bills to drive down electricity use is as old as the Clinton Administration and just as stupid. But Obama can’t call it a tax because that would break his pledge. So he calls it cap and trade instead.
Then we have the brilliant ideas of taxing gassy cows and a 25% value-added-tax on everything. Um, didn’t he say no new taxes for 95% of us? Liar, liar, pants on fire.
To pay for his health care lunacy that England and Canada have already warned us against, Obama will likely make all health insurance premiums, paid by employers, taxable to the employees. This idea he crucified John McCain for but at least McCain was planning on giving each person $5000 to pay for the insurance!
Finally, it is obvious that Obama will be unable to restore financial solvency to Social Security and Medicare without big hikes in the payroll tax, coming in 2011!
It is ultimately these tax increases which will drive Obama’s congressional majority from office in the 2010 elections. His stimulus package, raising the deficit damaged the recovery by raising interest rates. Now he will complete the catastrophe by raising taxes. Together, these tax hikes and interest rate increases will choke off any recovery the business cycle would naturally catalyze.From now on, its Obama’s recession.
–Dick Morris
