Click here for linkThis clown is fiddling with crap while the whole country burns down around him!
Today, President Barack Obama is expected to announce his latest plan for reducing the deficit, and central to it are $1.5 trillion in new taxes, aimed predominantly at wealthy Americans. Unfortunately for the 14 million unemployed Americans, the President is continuing down his steady path of ushering in big spending policies, then turning to even higher taxes in order to pay for them. Who ends up paying the price? America’s job creators and those on the unemployment line.
In a new paper, Heritage’s Curtis Dubay explains that the tax hikes in the President’s plan would be permanent, while his jobs policies would be temporary. And, in a senseless irony, those taxes would be levied on the very job creators whom America needs to create jobs. Dubay writes:
"In the Administration’s poorly crafted and contradictory jobs package, the American people get permanent tax hikes that would enlarge the federal government to offset the cost of temporary jobs policies that would not create any jobs. In the long run, the tax hikes in this plan are more likely to destroy more jobs than the jobs policies create."
Unfortunately, President Obama will not consider policies that would actually create jobs by reducing the high level of uncertainty that persists in the economy today.
Those tax policies include raising taxes on job creators by capping the deductions that families and businesses earning more than $250,000 a year could claim. And that tax increase would be on top of the 3.8 percent surtax on investment income coming in 2013 under Obamacare–not to mention the new taxes that the President is proposing today.
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