President Obama Rejects President Obama’s Job-Crushing Tax Hike Proposal
In remarks at the White House yesterday, President Obama said “it’s hard to argue against” his plan for a $1.5 trillion tax hike on American families and small businesses – but he sure did a pretty good job of it in the past! Less than a year ago, President Obama warned that – if Congress failed to prevent tax hikes – Americans would “see it in smaller paychecks” and “fewer jobs.” At that time, President Obama was “absolutely convinced” that preventing tax hikes would “strengthen our entire economy” – a striking contrast to the tax hike touting he did yesterday. Here’s a quick refresher for President Obama on the devastating impact tax hikes will have on jobs and the economy, courtesy of President Obama:
- Higher Taxes “Will Have the Effect of Fewer Jobs.” “US President Barack Obama on Thursday urged Congress to pass the tax deal he brokered with Republican foes, saying rejecting the compromise would hurt the economy and cost US jobs. … ‘[I]f this framework fails, the reverse is true. Americans will see it in smaller paychecks that will have the effect of fewer jobs,’ he said.” (AFP, 12/9/10)
- President Obama Said He Was “Absolutely Convinced” That Preventing Tax Hikes Would Grow the Economy and Create Jobs. President Obama: “I am absolutely convinced that this tax cut plan, while not perfect, will help grow our economy and create jobs in the private sector. ... I urge members of Congress to pass these tax cuts as swiftly as possible. Getting that done is an essential ingredient in spurring economic growth over the short run.” (Remarks, 12/15/10)
- President Obama Argues for Tax Relief, Not Tax Hikes: “By a wide bipartisan margin, both houses of Congress have now passed a package of tax relief that will protect the middle class, that will grow our economy and will create jobs for the American people.” (Remarks, 12/17/10)
- President Obama Said Preventing Tax Hikes Would “Spur Hiring” and “Strengthen Our Entire Economy.” President Obama: “All told, this will not only directly help families and businesses. By putting more money in people’s pockets, and helping companies grow, we’re going to see people being able to spend a little more, we’re going to spur hiring - we’re going to strengthen our entire economy.” (Weekly Address, 12/11/10)
- President Obama Says “[Y]ou don’t raise taxes in a recession...” (MSNBC, 8/5/09)
Yesterday, Politico reported that the President’s proposals would be “more a political document than anything likely to become law.” That much is clear. The President’s plan is centered on job-crushing tax hikes that have already been rejected by himself and members of his own party, and it fails to address the major drivers of our nation’s debt problem. As House Speaker John Boehner (R-OH) said yesterday, “pitting one group of Americans against another is not leadership,” and it will not help put Americans back to work.
The new House majority has put forth real solutions to address our nation’s debt crisis (see: Path to Prosperity Budget) and remove the barriers to private-sector job growth – including the threat of tax hikes – that have America’s job creators on strike (see: Plan for America’s Job Creators). Republicans will continue seeking common ground with President Obama on proposals that will remove government barriers to job growth, but imposing a $1.5 trillion tax hike on the very people we are counting on to put Americans back to work is a non-starter.