How very convenient:
The administration argues its tax increases for the households earning over $250,000 a year and fees on carbon polluters contained in its budget won’t kick in until 2011-2012, when it forecasts the economy will have fully recovered.
Of course they’re dreaming that the economy will have recovered by then (unless a miracle happens and Obamaonomics is rebuked by Congress, and they bring a halt to these disastrous tax and spend policies) but by waiting for this to kick in until after the 2010 Congressional elections they hope that the American people won’t notice that Obama’s fraudulent “tax cuts for 95% of Americans” are nothing but a shell game. It will take a while for carbon taxes to be passed on to consumers of energy, so by the time the American people wake up, it will be too late to stop it.
Every dime of these tax cuts, and more, will be eaten up by increases in carbon taxes, and inflation:
Many deficit hawks also worry that the trillions of federal dollars being doled out by the administration, Congress and the Federal Reserve could sow the seeds of inflation down the road, whether the measures succeed in taming the recession or not. The money includes Obama’s $3.6 trillion budget and the $837 billion stimulus package he signed last month.
In other words, it’s a lose-lose proposition. Meanwhile, we’re still waiting for Obama to propose an increase in payroll taxes on “workers” and employers to finance the Social Security Ponzi Scheme.
