“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”
…since any Social Security plan would probably preserve benefits for those nearing retirement, it would not help the administration achieve its goal of reducing the deficit to 3 percent of gross domestic product, from 10 percent, within a decade.
One way to reach that 3 percent goal, by the calculations of Mr. Obama’s economic team: a 5 percent value-added tax, which would generate enough revenue to simultaneously permit the reduction in corporate tax rates Republicans favor.
More on the VAT here. As ATR notes, the President has been trying to turn this read-my-lips into a pledge against raising income taxes. They want “President Obama to either immediately release the reported VAT calculations or deny such calculations exist,” although I don’t know why. Anything that we get from the man will just be another lie.
Share on Facebook 1 1 SHARES Now that there isn’t a challenger to sway people from, Trump is free to court whosever vote he needs to win the general. So why not Bernie supporters? In an interview on Wednesday with your new Republican presidential candidate, Wolf Blitzer told Trump that Bernie Sanders has been attacking him for wanting to keep the federal minimum wage at | Read More »
Share on Facebook 1 1 SHARES I will never vote for Hillary Clinton. I just want to make that clear. There will never be a ballot in my name with a checkmark or a hole punched next to the name Hillary Clinton. Or any Clinton. It just isn’t going to happen. People are abandoning the GOP after Trump’s victory, a move I applaud. They are | Read More »
Share on Facebook 1 1 SHARES Trump’s search for a running mate is going to be fun to watch. Fun in that it’s going to be hilarious watching person after person after person after person after person say “No.” And we are seeing the first, officially. While Trump hasn’t asked Nikki Haley (and he will no doubt now attack her and claim he never considered | Read More »
Share on Facebook 1 1 SHARES There is a lot going on in the world. Just yesterday, a Navy Seal was shot and killed by ISIS terrorists in Iraq. A combat death, you see. Russia is challenging our authority, and will do so even more with their pet candidate taking the nomination. Terror on the rise. Jobs. The economy. The debt. Even American drinking water. | Read More »