Obama: My Tax Hikes Would Hurt the Economy

Over and over, Barack Obama's economic advisers have said that tax rates don't affect economic growth unless they get stratospherically high. But here is what Obama said yesterday on ABC in response to a question about whether he would postpone his tax hikes given the state of the economy: "I think we've got to take a look and see where the economy is. I mean, the economy is weak right now." Exactamundo! Raising taxes in the name of equity is a luxury we can't afford in a hypercompetitive global economy. This is also another sign that McCain's tax attacks are working, I would think.