Raising taxes during a recession or even a depression is a plan which has been proven to be a failure. No one, not even the least involved in politics, can reasonably conclude that raising taxes will help the economy.
But that is precisely what our terribly inexperienced, and so far fumbling new president will announce in the next few days. And he will do so with great conviction, as his spokesman said, because it was a campaign promise.
And what is the goal of the new and higher taxes? To reduce the federal deficit, in four years, so that instead of spending $1 trillion more than it takes in, the government will only be spending 1/2 a trillion more than it brings in.
And why are we spending more than we bring in? Because our new and terribly inexperienced fumbling president just sponsored a huge nearly $1 trillion spending bill which spends money we don't have!
His plans to "cut the deficit" are a joke. HE IS the deficit, he just ballooned the deficit, and now his game is to take people's money, what little they may have left, so he can "spread the wealth around".
Yep, that was a campaign promise alright, just ask Joe The Plumber.