Friday, September 19, 2008

More Patriotism = More Taxes

Exploiting the crisis on Wall Street to whip up a frenzy for even more tax increases (a patriot's duty, according to Joe Biden), Barack Obama's plans for America are scarier than ever.

Senator Obama is throwing around a lot of misplaced blame this morning, refusing to acknowledge the Democrats' role in overspending, Fannie Mae, etc. But he's then refusing to explain the details of his own financial program for the United States.

That's okay. This Investor's Business Daily editorial gives you a few of the most salient points.

Obama would add more than $343 billion in annual spending according to the National Taxpayers Union...

So when it comes time for a President Obama to decide where to drill for more cash for Uncle Sam, the middle class is where he is going to find all the vast untapped resources to be; taxing the rich alone — who already pay such a large proportion of taxes already — simply won't bring in enough money...

Massive new taxes and the abandonment of global economic freedom sold as "patriotism" is not only an outrage; it's a huge danger to an economy that has enough troubles already.