Diary

So Obama Now Embraces Reaganomics? Sure...

Has anyone else out there noticed how President Urkel, in trying to sell his “Tax Cut Compromise,” has taken to saying the extension of lower tax rates will spark the economy and result in an uptick? Has he been possessed by the spirit of Ronaldus Maximus?

But he’s having a heck of a time getting Dark Princess Pelosi to buy into it. Perhaps the reason the sell isn’t working too well is that Democrats don’t believe it, and they know neither does he. NO modern Democrat believes that lower taxes are good. “We can’t afford it!” they will scream. “It’s not FAIR,” they will wail.

Watching Obama believably spouting precepts of capitalism is like watching Beelzebub claim he’s now a Baptist. You wish it were true, but you know better.

Even ABC’s Charlie Gibson figured it out, and posed the question to candidate Obama in one of the pre-election “debates”:

GIBSON: You have said you would favor an increase in the capital gains tax. As a matter of fact, you said on CNBC, and I quote, “I certainly would not go above what existed under Bill Clinton,” which was 28 percent. It’s now 15 percent. That’s almost a doubling, if you went to 28 percent. But actually, Bill Clinton, in 1997, signed legislation that dropped the capital gains tax to 20 percent.
OBAMA: Right.
GIBSON: And George Bush has taken it down to 15 percent.
OBAMA: Right.
GIBSON: And in each instance, when the rate dropped, revenues from the tax increased; the government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down. So why raise it at all, especially given the fact that 100 million people in this country own stock and would be affected?
OBAMA: Well, Charlie, what I’ve said is that I would look at raising the capital gains tax for purposes of fairness.

Huh? Fairness? Thank God this turned out to be another foolish, fatuous Obamapromise.

Of course, will any of the junior reporters that make up the White House press corps ask why, all of a sudden, Obama is touting tax reduction as the sure path to economic growth? Is he now saying that increased taxes (or even the SHADOW of them, as in Obamacare) during his first two years have actually kept us mired in unemployment for longer than we needed to be?

Is he now admitting that he – and advisors – are economic illiterates who have driven the U.S. even deeper into recession over ideology?

Anyway, I guess we should enjoy the lower taxes – however they got here.

And try our best to stomach our Liar-In-Chief and his say-anything-to-anyone way of governing.