While Barack Obama was forced to move in the direction of extending the Bush tax cuts, he was also moving in another direction: hitting small business with a huge tax hike. While the number is disputed, and often is with Barack Obama, he claims that 3% of small businesses will be effected with the new tax hike. That’s a tax increase on 900,000 small businesses.
The absolute insanity of this administration to dig its way out of a recession is amazing. While Ronald Reagan did what was necessary following the detrimental economy left by president Jimmy “Peanut” Carter and by his third year the nation was producing nearly 300,000 jobs, Obama is struggling to produce 80,000 and he used $800 billion in stimulus to do that. The result is that most of those jobs are not even full time jobs.
Not only has the administration not passed a budget and not only have they waited until this late hour in an election year to begin promoting tax cuts, but they go and do something as utterly ridiculous, ok wait, not utterly ridiculous as Obamacare, but nevertheless ridiculous, as raising taxes on small businesses.
While Nancy Pelosi and Senator Church Schumer both back extending Bush tax cuts for people making up to $1 million, Barack Obama moves to the left of both of them in calling for the tax cuts to only effect those who make under $250,000. This seems to be a ploy so that he can keep his promise of people in that economic bracket not having their taxes go up one dime. Well it’s too late for that. Obamacare was implemented in 2010 and those taxes are already being collected and everyone say the increase when they filled out their 2011 tax return this year.
Not only that, but Barack Obama has moved to the left of himself. That’s right. In August of 2009, then President Barack Obama was very clear that you don’t raise taxes in a recession. Here’s what he says:
We have not proposed a tax hike for the wealthy that would take effect in the middle of a recession. Even the proposal that have come out of Congress, which by the way were different than the proposals I put forward, still wouldn’t kick in until after the recession was over. So he’s absolutely right. The last thing you want to do is to raise taxes in the middle of a recession.
Good grief! Can anyone understand what the man is trying to do? It’s like watching the little guy on the side of the street with the three cards. It’s like little “three card Montey” here. Maybe it’s the guy with the little ball and the shells. It’s similar game. Obama just moves a shell over here and one over there and it appears as though something is different when the entire thing is a shell game and his economic plan has been less than a shell game. It’s been a complete disaster.
But in this election year, Obama is not putting forth what is best for the country. No Sir. Barack Obama is out for one thing and one thing only, getting himself re-elected no matter what the cost to the American people and no matter what the cost to American small businesses.