Vice President got something right while he was out there on the campaign trail, but apparently he forgot who has been in charge for nearly four years. Let’s also not forget which party controlled Congress, where Biden and Obama were sitting Senators, and did nothing to stop the economic crisis in the first place. They helped make it happen.
“This is deadly earnest, man. This is deadly earnest,” Biden said. “How they can justify–how they can justify–raising taxes when the middle class has been buried the last four years… How in Lord’s name…”
Good question, Joe. How in the lord’s name can you and President Obama justify raising taxes on the middle class the way you plan to do?
A new study by Douglas Holtz-Eakin of the American Action Forum finds that President Barack Obama’s spending plan would raise taxes on the middle class. “[T]axpayers making as little as $30,000 will carry $1,500 more in taxes annually over the next 10 years,” the study finds.
The significance of this study is that it contradict Obama’s pledge not to raise taxes on the middle class. “If you are a family making less than $250,000 a year, you will not see your taxes go up,” Obama said in 2008.
But if the American Action Forum study is correct, and if Obama is reelected, he will either break his pledge not to raise taxes on the middle class or his commitment to balance the budget.
There are not, and never will be, enough millionaires and billionaires in the United States to pay for all of the spending and the debt they’ve racked up.