I’m usually a fan of Charles Krauthammer (OK, as much of a fan as I could possibly be of anyone who once wrote speeches for Walter Mondale!) and I think he’s somewhat off the mark here.
We DID go over the fiscal cliff, and taxes were then cut for all income groups except the top 1% of households. But payroll taxes will still increase for 77% of households (1), including many of his core constituent groups because of the payroll tax increase — that nobody on either side of the aisle wanted to stop. Add in the reduced hours, layoffs and increased paycheck deductions because of Obamacare. Then consider that the price inflation resulting from monetizing the reckless spending and that COLA adjustments to transfer payments are made well after price inflation has taken place. Taxes of one kind or another are going up on practically everyone, and are going to most hurt the groups that Obama claims to want to help!
IMO we have a President who would be in over his head as a High School class President, and who doesn’t have the depth of understanding about economic behavior of a cocaine dealer in the Chicago projects. Notwithstanding the Nobel Prizes, his advisers aren’t any better. True, Obama has a “vision”, but it’s not just through rose-colored glasses, it’s through the distortion of funhouse glasses. It’s so disconnected from reality that it will fail.
Excellent.
And who in the MSM, including Charles will bring up the quote “ not raise your
taxes one thin dime”
True that! Note the source here! (NOT the NYT or WaPo!)