Obama’s Tax Plan: A Recipe For Disaster

Obama recently made an appearance on ABC Sunday with George Stephanopoulos. Obama’s appearance, and the conversation regarding his latest tax plan, had the Wall Street Journal (as well as others) wondering if Obama knew what his tax plan was, let alone its negative affects on our economy:

Wall Street Journal: Obama Tax Plan 3.0

Mr. Stephanopoulos: “So even if we’re in a recession next January, you come into office, you’ll still go through with your tax increases?”

Senator Obama: “No, no, no, no, no. What I’ve said, George, is that even if we’re still in a recession, I’m going to go through with my tax cuts. That’s my priority.”

Mr. Stephanopoulos: “But not the increases?”

Senator Obama: “I think we’ve got to take a look and see where the economy is. …”

“Look and see where the economy is…” That is not very reassuring, and places Obama in the same spot President Clinton was in 1993. During the entire 1992 Presidential Campaign Clinton promised tax breaks for the middle class (after mocking then-President Bush for raising taxes). He “changed” his mind once he got in office, choosing instead to raise taxes on EVERYONE. Fortunately all the stars aligned for Clinton, but that type of alignment is a once in a lifetime occurrence.

If Obama wins the Whitehouse, and the Democrats hold onto Congress, there is little doubt that we will see the largest tax increase in the history of this country. Obama’s lack of economic understanding, coupled with poor advice from socialist mentors will drive us into a deep recession, and possible even a depression (Barrons: Did Obama Learn Nothing From Hoover). “IT'S HARD TO PIN down the details of Obama's tax proposal because they keep changing.” Is this the time for vagueness and indecision?

I am no economist, just a simple Conservative, but it does take a genius to see that what our economy needs is someone ready to hold the line on federal spending and ensure tax cuts for everyone. Does anyone have faith that the socialist that control the Democratic Party are prepared, and willing, to commit to a disciplined spending plan and limited taxes?