WTH? Obama Warns America About “Job-Killing Tax Cuts” During Press Conference (Video)

[Stephanie]

good gawd,

snip:


WTH? This was nuts.
Many Americans believe that Barack Obama is purposely trying to destroy the American economy with his job-killing big government policies. That may not be the case. Maybe he’s not that sinister. Maybe he’s just a complete leftist ideologue and true believer in a utopian socialist fantasy.

Today Obama warned the American people about “job-killing tax cuts.”
The community organizer might not be evil. He might be an idiot.
Video from FOX Nation:
video at site.

Here’s the transcript via The White House:

So my general view is that if the American people looked at this, they’d say, boy, some of these decisions are tough, but they don’t require us to gut Medicare or Social Security. They don’t require us to stop helping young people go to college. They don’t require us to stop helping families who’ve got a disabled child. They don’t require us to violate our obligations to our veterans. And they don’t require “job-killing tax cuts.” [sic] They require us to make some modest adjustments to get our house in order, and we should do it now.

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WTH? Obama Warns America About “Job-Killing Tax Cuts” During Press Conference (Video) | The Gateway Pundit

 

[Conservative]

WTF is a 'job killing' tax cut?

 

[Conservative]

excellent opinion piece on this topic...

CURL: Who says tax cuts kill jobs? Our history sure doesn't - Washington Times

That’s right, the Harvard graduate said tax cuts kill jobs. But then again, he did study law, not economics.

When Ronald Reagan took office in 1981, the top tax rate in America was 70 percent. Reagan cut that to 50 percent in 1982, then to 38.5 percent in 1987, and finally to 28 percent in 1998. What happened? Unemployment dropped from 9.2 percent (exactly what it is today) to 5.3 percent and inflation plummeted from 13.5 percent to 4 percent. At the same time, real income for Americans grew by an average $4,000.

“Our true choice is not between tax reduction, on the one hand, and the avoidance of large federal deficits on the other,” he said. “It is increasingly clear that an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget just as it will never produce enough jobs or enough profits.”

“In short,” he said, “it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now.”

Yes, John F. Kennedy — a Democrat! — had the right idea. He slashed the capital gains tax in 1962 and dropped the top tax rate to 70 percent. Federal tax revenues went up 50 percent, from less than $100 billion in 1961 to more than $150 billion in by 1968.

So, Mr. President, higher deficits aren’t caused by lower taxes, they’re caused by higher spending (for instance, $3.45 in spending versus $2.16 in revenue).

And it doesn’t take a Harvard degree to know that.