Tax Hikes Up Ahead

Posted: Apr 16, 2009 9:33 AM
"The Obama administration will be hard-pressed
to avoid raising taxes on the middle class..."

That's is what non-partisan economists are independently saying and what The Hill newspaper is reporting when crunching the budget numbers in the FY 2010 budget put forth by the White House and Democrat Congressional leaders.

Here are some more of the money quotes from the story:

“You just simply can’t tax the rich enough to make this all up,” said Martin A. Sullivan, a former economic aide in the Reagan administration who said he backed Obama last fall.

“Especially just for getting the budget to a sustainable level, there needs to be a broad-based tax increase,” said Sullivan, now a contributing editor at Tax Analysts publications. “If you want to do healthcare on top of that, almost certainly, it just makes [a middle-class tax increase] all the more certain.”

“There’s no way we’re going to be able to pay for government 10, 20 years from now without coming up with a new revenue source,” said Leonard Burman, director of the Tax Policy Center, during a forum on Obama’s tax proposals earlier this month.

If these assessments prove true, middle class tax hikes are on the way. So much for campaign promises.