Obama responded by reiterating his opposition to tax hikes during a recession and making an argument about timing. “We have not proposed a tax hike for the wealthy that would take effect in the middle of a recession. Even the proposals that have come out of Congress – which by the way were different from the proposals I put forward – still wouldn’t kick in until after the recession was over. So he’s absolutely right, the last thing you want to do is raise taxes in the middle of a recession because that would just suck up – take more demand out of the economy and put business further in a hole.”He was completely right. Perhaps he wants tax increases now because the recession is over. Is that the situation? The recession is over? How encouraging!
Tuesday, July 12, 2011
Obama on Tax Hikes During a Recession
The July 11, 2011 Weekly Standard has an amusing quote from Obama from two years ago: