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Some good news

Posted by rightwinger on January 6, 2009

Well Obama has decided to forgo raising taxes at least until the economic downturn is over.  Before and even after he won, he repeatedly said that taxes would be raised on businesses and incomes over $250,000.  The 250,000 number was a moving target, but for now we will say 250.  Now I guess he has decided to listen to his supply side economic advisor who advised against raising taxes during a recession.  This is good news, but before you get too excited Obama plans to let the Bush tax cuts expire in 2010.   In 2010, all of our taxes will go up except for the middle class and lower income individuals.  The problem is the middle class hasn’t been defined.  We’ll find that out in 2010 I guess.

More importantly, conservatives are also making progress on significantly changing the actual content of the stimulus bill. Tacitly accepting a core conservative belief, Obama’s team has dropped any plans to raise taxes because the plan is “focused on measures that create jobs.”  -This is from the Heritage Foundation Morning Bell for 1/5/08


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