Originally posted by callat703:
Maybe true, though I don't know that this one statement is going to stick to Obama as indicative of his entire plan. It certainly is a poor phrasing of what increasing taxes on the rich will accomplish - but you certainly could reduce it this way, as many conservative commentators already have. But you're completely ignoring the basis of what we're bringing up: that it seems like there isn't any reason to believe anything John McCain says anymore.
is not obama's entire income tax plan (as opposed to capital gains, payroll and dividend tax plan, which is the issue economists have with obama's tax plan) premised on increasing taxes on those making above $250,000? isn't that nothing more than government sponsored redistribution, not to mention an extremely progressive and potentially crippling tax hike (sorry, had to throw that in there; i'm not ashamed of my libertarian-ness)?
let's not forget, government intervention isn't always the
best thing in an economic panic.
btw, this is an interesting
fact check