TweetIt's important to recognize that Obama is also contradicting himself. He recently backtracked on rescinding the Bush tax cuts. He said he wouldn't "raise" taxes on rich people, even during a recession.
So, Obama is campaigning against the Bush tax cuts while actually planning to keep them in place. Most people don't realize this!!!!
Even a socialist like Obama has to admit:
Tax cuts STIMULATE the economy, which ultimately bring in more tax revenue, despite the lower rates.
Tax increases SLOW the economy, which ultimately bring in less tax revenue.
So, Obama is now openly admitting this, but still pledging to cut 95% of the people's taxes, and raise them only on businesses and people making more than $250,000.
There is NO LOGIC anymore ... He's not even making sense with what he's promising. He seems to say: for now, we'll keep taxes low. But as soon as our economy RECOVERS we'll jack them up for the top 5%.
Non-sense...