Obama Tax Increase Would be a ‘Bullet in the Head’ of Recovery
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"Bullet in the head."
The US Chamber of Commerce has never been an ally of President Obama.
In an speech before the American Petroleum Institute Monday, Chamber economist Martin Regalia suggested that the White House’s plan to let the Bush Tax Cuts expire would kill any chances of economic recovery.
“That’s what you’re suggesting, is a corporate bullet in the head,” Regalia said. “That is going to be a bullet in the head for an awful lot of people that are going to be laid off and an awful lot of people who are hoping to get their jobs back.”
Rather dramatic in its imagery, but Regalia speaks for a majority of economists.
“70% of Economists Favor Extension of Bush Tax Cuts to Those Making greater than $250k a year.”
But let’s face it, the Obama Administration is not concerned with sound economic policy, only with a potential wedge issue to use against Republicans in the November elections.
Democrats need something to stave off a mid-term massacre.
Class warfare has worked in the past, there is no reason to think that it will not come through for Democrats once more.
At least that is what they are hoping.
Video – Rage Against the Machine’s “Bullet in the Head” (language warning)
“Obama Administration is not concerned with sound economic policy…”
Sorry bud, but that makes no sense whatsoever. Any politician capable of being elected dog-catcher would gladly exchange a few wedge issues for the chance to run an election on the platform of having delivered a sound economy.
You are slipping into derangement with this stuff. Be careful – there is NO ONE on the right who will ever offer you a hand to keep you from going over the cliff with this kind of stuff.
You make an interesting theoretical argument, but the proof is in the pudding.
Obamanomics has done nothing but destroy this economy.