Given yet another set of disappointing economic numbers, it just reinforces the folly of Democrats’ desire to raise taxes now. When he signed the last full extension of tax rates, President Obama said that “tax rates for every American were poised to automatically increase on January 1st” and allowing that to happen “would have been a blow to our economy just as we’re climbing out of a devastating recession.” The president was right when he signed that extension in December 2010, and clearly, things haven’t improved since then.
So why are the president and Democrats now so adamant about raising taxes? In July, 51 Senate Democrats voted for a massive tax hikes. And The Wall Street Journal editors observed, “Mr. Obama is demanding tax increases, not tax cuts, and large increases at that.”
As Senate Republican Leader Mitch McConnell said after Democrats voted for their tax hike, “After nearly four years of spending and debt, millions of Americans are still struggling amidst the slowest recovery in modern times, and the economy is flat on its back. And they want to raise taxes. . . . [T]wo years ago, Democrats agreed that the higher taxes they’re now fighting for would hurt the economy. At a time when economic growth was 3.5 percent, 40 Democrats voted to keep rates where they were on the grounds that it was the best thing for jobs.”
With growth as low as 1.3% now, do Democrats still think it’s the time to raise taxes?
Rasmussen Reports: 43% Expect Better Economy if Romney Wins; 34% Say Same of Obama
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