Obama gleefully is awaiting January 1st when revenues spike. He already has his next budget filled with incredible spending increases to take advantage of the added income. Do you think they will stop borrowing to make up the difference for any potential budget gaps? Never! The added revenue will only make them hungry for more tax increases. And the irony will be that as tax rates go up, realized revenues will actually decrease, as the tax increases will burden an already weakened economy and cause more private businesses to fold. But that’s okay to Mr. Obama, because “the private sector is doing just fine”
Obama gleefully is awaiting January 1st when revenues spike. He already has his next budget filled with incredible spending increases to take advantage of the added income. Do you think they will stop borrowing to make up the difference for any potential budget gaps? Never! The added revenue will only make them hungry for more tax increases. And the irony will be that as tax rates go up, realized revenues will actually decrease, as the tax increases will burden an already weakened economy and cause more private businesses to fold. But that’s okay to Mr. Obama, because “the private sector is doing just fine”