Barack Obama admits that tax increases–even on rich people–hurts the economy:
President-elect Barack Obama may consider delaying a campaign promise – to roll back tax cuts on high-income Americans – as part of his economic recovery strategy, two aides said on Sunday.
David Axelrod, the Obama campaign strategist who was chosen to be a senior White House adviser, was asked if the tax cuts could be allowed to expire on schedule after tax year 2010 rather than being rolled back by legislation earlier. “Those considerations will be made,” he said on “Fox News Sunday.”
Bill Daley, an adviser to Obama and commerce secretary under former President Bill Clinton, said on NBC’s “Meet the Press” that the 2010 scenario “looks more likely than not.”
So the President-elect has become an adherent of trickle-down theory. Someone tell the netroots what their electoral efforts hath wrought.