With Polls Close, Obama Blinks on Taxes

Fastest way to pay down the national debt-tax revenue on new oil exploration. Exxon pays $4000/second in federal taxes!

How can Obama hold a position on anything, given that the man has no provable center; he started his political career in the living room of William Ayers and Bernadine Dorhn for God's sake-two unrepentant terrorists, who wanted to kill cops and our military men, and planted a bomb in the capital and a NY police station.

Nobody I know would even be in the same room as these two, let alone have a relationship with them spanning a decade.

Now, that's judgment to lead, I tell ya.

Jesse of PA @ Aug 14, 2008 19:40:18 PM

Obama's fiscal irresponsibility

I don't know how you can say McCain's policy is more fiscally irresponsible. Obama is proposing new spending that will add more than 200 billion dollars a year to the deficit. McCain wants to cut spending. Now Obama is backpedaling on his tax increases, which will make the fiscal imbalance in his platform even worse.

If you take Obama at his word and he accomplishes what he says he'll do, the U.S. deficit will skyrocket.

And if you're going to have a big deficit, you'd rather have it come from tax cuts than from spending increases, because tax cuts are far easier to undo in a crisis. Once Obama's new spending plans are baselined into the Federal budget, they'll be untouchable. How often does the U.S. government significantly cut spending anywhere?

Dan @ Aug 14, 2008 19:07:10 PM

Leftist Hypocrisy

I just love how the left, who has blamed President Bush personally for every problem from individual civilian deaths in Iraq to Hurricane Katrina are now saying that "Congress writes the tax laws" therefore abrogating responsibility on Obama's part. Too rich.

Oh, and for the "long term planner":

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How To Make a Contribution To Reduce Debt Held by the Public

To help reduce debt held by the public, make a check payable to “Bureau of the Public Debt.” Send it to Bureau of the Public Debt, Department G, P.O. Box 2188, Parkersburg, WV 26106-2188. Or, enclose a check with the income tax return. Contributions to reduce debt held by the public are deductible subject to the rules and limitations for charitable contributions.

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I bet you've sent a ton of money in!

The Ace of VA @ Aug 14, 2008 18:45:04 PM

Obama

Obama Mr. Bo Jangles dances is way around each promise flip floping like an old shower shoe. He will great our enemys with open arms and destroy the american way od life. BE CAREFULL HOW YOU VOTE YOUR LIFE DEPENDSON IT!

mike of TX @ Aug 14, 2008 18:30:14 PM

Obama's new name: "Blinky"

Obama thinks,

And then he blinks,

He's a certified jinx,

But Donks don't care,

If his philosophy stinks.

MarkJ of @ Aug 14, 2008 18:25:51 PM

8 years later?

8 years later?

Clinton wrought a terribly risky "biggest tax increase ever" fiscal policy, combined with massively stimulative monetary policy. Seven years later, with asset prices spiraling out of control, we suffered the worst stock market crash since 1929, the complete destruction of a naescent industry and the laying off of nearly its entire workforce. The internet bubble under Clinton wrecked havoc with the careers of two generations, caused terrible damage to the equity markets and divert investors into real estate speculation. That, plus the "community reinvestment" initiatives of the early Clinton Administration (which with the Democratic Congress passed draconian new penalties for banks not "reinvesting in their communities), brought about the subprime lending debacle and the ultimate real estate crash of 2007-2008.

It is remarkable that the Bush Administration so well handled the return to some normalcy after the Clinton Crash of 2000, and then managed to keep the economy from stumbling badly after Osama Bin Laden and global terror inflicted trillions of damage on our economy on 9/11.

Upetrovska of NE @ Aug 14, 2008 18:24:11 PM

Excuse Me

Franklin.

Why do you insist tax increases are the only answer?

Lower taxes grow the economy faster and make for happier, self-determined people.

If spending is be controlled then revenues catch up to close the deficit gap. Years of spending control could lead to closing the debt gap.

The least fiscally-responsible election result would be to have the grim trifecta (or trinity) of a Democratic House, Senate and Presidency.

Do you believe there should be free lunch for everybody? Vote Democrat. It won't cost you a thing, right?

Besides, when the private sector shuts down, government can provide all the needed jobs.

Sure.

Greg Toombs of NJ @ Aug 14, 2008 18:07:43 PM

I'm a long-term planner, too, . . .

. . . and I'd rather we didn't grow the ratcheting-ever-upwards governmental maw through the expansion of spending that Obaba clearly contemplates, and will likely be able to accomplish unless the overall fight for the Congress changes its apparent course.

For that reason alone, McCain can make substantial taxing mis-steps and still come out miles ahead of Obama, in my mind.

Economic issues, however, are moot for purposes of affecting my vote. It is McCain's continued support for what we've accomplished in Iraq and the Middle East generally that have nailed my vote for him.

bobby b of MN @ Aug 14, 2008 18:06:49 PM