We will not be able to control our budget deficits without raising taxes ... president Obama's speech Wednesday lived up to that moment, and now democrats and republicans in congress must take a similar stand...what he doesn't say is that this occurred after coming out of the Carter years, after the Democratic congress (house & senate) f'ed over the public in hopes of winning the presidential seat back.
I told in 1984 ... in my acceptance speech at the democratic national convention in San Francisco. "The budget will be squeezed. Taxes will go up ... It must be done. Mr. Reagan will raise taxes, and so will I. He wnt tell you, I just did."
I lost the election,but I won the won the debate. Reagan ended up increasing taxes in 1984, 1985, 1986, and 1987 to mend the budget and tax systems.
Walter Mondale, Fmr VP/Dem presidential candidate/MN congressman
Washington Post OpEd/Sunday
"How to Raise Taxes Without Losing Votes"
He also is not telling people that the taxes raise is only a fraction of what the current admin has in store for people.no does he say that the majority of the taxes raised had built in "sunset" clauses so those taxes were meant to go away - at least until the congress realize how much they were going to lose.
The thing that really scares me is that they had Bernanke on "Meet The Press" this morning and he says the scary thing about European economies is that they have very little room for job growth ... But he didn't say a word about the 60 - 80% tax rates over there.
To me that is scary.
It is hard to believe that this is the same man who was in charge f the Fed Reserve under ne of the biggest economic booms in our nation! It is almost like he is looking to get reappointed ...
He is such a suck up!