Summers [a top economic adviser to Obama] said Obama would end President George W. Bush's tax cuts on those who make more than $250,000. Pelosi has said she wants to repeal the tax cuts well before they expire at the end of 2010.SO.... OBAMA IS GOING RASIES TAXES ON SMALL BUSINESS OWNERS; HE'S GONNA TO DECREASE WHAT THESE SUCCESSFUL RISK-TAKERS AND HARD-WORKING BUSINESSMEN AND BUSINESSWOMEN CAN KEEP; THEREBY LOWERING THE INCENTIVE FOR THEM TO INVEST AND GROW THE ECONOMY.
Obama might be willing to simply let them expire, Summers said, though he was noncommittal. He did say Obama will fight any effort to extend the tax cuts beyond their expiration date.
''The president has made clear that the question of timing is one we're going to have to reach as we see how the economy unfolds,'' Summers said. ''But they're not going to be with us for long.''
Republicans argue that the government shouldn't raise taxes on anyone during tough economic times.
THIS WILL SLOW GROWTH. OR KILL IT.
IT'S A RECIPE FOR DEPRESSION.
- OBAMA - WITH ALL HIS CONSTANT PANIC-INCREASING TRASH-TALKING OF THE ECONOMY, AND WITH HIS PORK-LADEN SOCIALISTIC "STIMULUS" PACKAGE - IS TRANSFORMING A RECESSION INTO A DEPRESSION.
- AND HE'S DOING THIS WHILE MAKING US LESS SAFE FROM TERROR.
- AND INCREASING THE NUMBER OF BABIES KILLED BY ABORTION.
NO WONDER FARRKHAN CALLS HIM THE MESSIAH: HE IS: FOR THE DARK SIDE OF THE FORCE.