Dan Mitchell of Cato on Obama’s Policies of Spend, Tax, Spend, Borrow and Spend More
Multi-trillion dollar Stimulus, Heath Care, Bailouts and Climate Change proposals have to be paid for some how. EIther increased taxes, increased borrowing or a combination of the two are in the works by the Obama Administration and these initiatives will further constrict private enterprise. Dan Mitchell tells Red State, “the White House agenda of handouts, bailouts, and big government is bad for the economy regardless of whether the new spending is financed by taxes or borrowing. So far, the left is diverting money from private credit markets to finance the spending spree, but the President has stated that he wants to impose big tax increases on investors and entrepreneurs.” Mitchell discusses the Presidents tax and borrow to spend programs in a video produced by the Center for Freedom and Prosperity that makes explains Obama’s Soak-the-rich tax hikes. Please note Mitchell’s awful tie.
Mitchell did not stop there, he has made a second video discussing class warfare against individuals in American society who are being punished with higher taxes — entrepreneurs and other creators of wealth.
Dan Mitchell tells Red State, “the business community also is getting hit with higher taxes (at least those firms that still have the nerve to make money rather than mooch off the taxpayers). A second video from the Center for Freedom and Prosperity shows the utter foolishness of the White House proposal to boost the tax burden on American companies trying to compete in global markets.”
On Health Care, Member of Congress are considering a value-added tax to raise the Congressional Budget Office initial estimates between $1 trillion and $1.6 trillion to pay for a modest increase in health coverage for Americans. Mitchell says that “if the Obama Administration succeeds in taking over health care sector, it will mean additional tax increases – including tax hikes that will directly harm the middle class such as energy taxes and a value-added tax. Tax increases on the ‘rich’ and big business indirectly hurt the middle class by hindering growth.” Agreed. Mitchell is right on tax policy, but he may need a fashion consultant about his poor choice in ties.