“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 After the Iowa caucus, the aftermath of which included Carsongate and some Trumpertantrums, the GOP debate in New Hampshire tonight will be one to watch. The field is smaller, now that main debate stage candidate Rand Paul, and undercard candidates Mike Huckabee and Rick Santorum, have all ended their campaigns. And returning to the debate stage once again is Trump, this time with | Read More »
Share on Facebook 1 1 SHARES Tonight on “The O’Reilly Factor” on Fox News, Donald Trump was the first guest, and at the beginning of his segment, Bill lightheartedly and briefly touched on EffGate. During the bantering exchange, Trump repeatedly denied that he used the actual word. However, since it was on video, this claim is verifiable. As they say in the business, let’s go | Read More »
Share on Facebook 1 1 SHARES It seems Donald Trump constantly re-tweeting white nationalists on Twitter has paid off. A group of white supremacists has formed a Super PAC and they are supporting Trump. Isn’t that lovely? From CNN: New Hampshire voters may be stunned to hear the latest robocall asking for their vote; it’s from white nationalists with a simple, disturbing message. “We don’t | Read More »
Share on Facebook 1 1 SHARES New Orleans has a habit, it seems, of being ignored by the press. At least, ignored when it comes to mass shootings. Or this case, attempted mass shooting. You may remember that, back in November, there was a mass shooting in the city which received virtually no national press. Now we have a story where not only did someone | Read More »