On Fox, Obama said he would raise capital gains taxes to no more than 20 percent. But on March 27, Obama told CNBC's Maria Bartiromo he would raise capital gains taxes to 28 percent. Obama said his goal is to "create additional revenue." But as The Wall Street Journal noted in an editorial recently, lower capital gains taxes have, in fact, historically produced more tax revenue while higher capital gains taxes bring in less, as people are less willing to sell stocks because it will cost them more in taxes.
What about payroll taxes? On Fox, Obama said he's for raising them on Americans earning more than $102,000 annually. But just two weeks ago, Obama said he wouldn't raise taxes on anyone making less than $200,000. When asked by ABC's George Stephanopoulos during the Philadelphia debate with Hillary Clinton if he would pledge not to raise taxes on the middle class, Obama responded, "I not only have pledged not to raise their taxes, I've been the first candidate in this race to specifically say I would cut their taxes." Again, which is it?
Obama's view of government is classic liberal paternalism: "...what (the American people) are looking for is somebody who can solve their problems Š who will tell them the truth about how we're going to bring down gas prices, how we're going to bring back jobs," he told Wallace.
No president can solve my problems, or bring down gas prices (those are set by market forces) or create jobs, other than more government jobs. In all of Obama's impressive rhetorical skills, there is nothing about the role of the individual, only the role of big government. His uncertainty and inconsistency on issues ranging from war to taxes reveal his inexperience and youthful stumbling, two qualities that make him unprepared to be president.
And now we return to our regularly scheduled program of the rantings of Rev. Wright.
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