It Begins
The Obama administration sneaks out a major admission: They can’t actually do math.
The Obama administration will propose $60 billion in new tax increases over 10 years on wealthy estates, businesses and others to make up for shortfalls in its fund to pay for an expensive overhaul of the health-care system.
The measures go beyond plans the White House has announced in the past few weeks. Officials said that upon further analysis they realized that they had overestimated savings and tax increases proposed in February to help pay the bill. (Emphasis added)
These are only the tip of the tax iceberg many of us have seen coming all along, while the SS Obama slammed the throttles to the stops and put on full speed ahead.
All of this insane spending - every, single dime of it – will have to be paid for. That will require taxes and it will impact – negatively – the starry-eyed supporters of the double-speak king they helped elect. It won’t just be “them” who are paying for all the gladhanding.
Obama already raised taxes – regressively – on smokers, the bulk of whom earn lower incomes. That was only the first campaign promise he is going to be breaking. All those “free” things he promises are going to cost. A lot. This is the first public admission that there will be major tax increases coming, across the board.
And that the “Best and Brightest” can’t add simple figures.
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Public Secrets — May 10, 2009 @ 3:01 pm
By RL, May 10, 2009 @ 3:19 pm
why do you think and posit that these people “can’t do the math”? Do you really believe that? Don’t you consider the possibility that this “administration” is doing its best to destabilize our society? To keep a steady stream of crises moving through the news cycle . . . to keep the population frightened and cowed, while they destroy the traditions and cultural strengths that made the U.S. the most wonderful society in modern history….
Why do you think this is not the case?
By Gaius, May 10, 2009 @ 4:15 pm
Frankly, I don’t think the left has ever been able to do the math or they would have realized it cannot work the way they promise it can.
But if you are asking how much of this is intentional and how much ineptitude, I’m not at all sure that can be answered right now. That said, given the outcome of a number of things recently, I’d actually say I’m leaning toward ineptitude in a lot of areas.
And pointing out that ineptitude and laughing at it is very powerful.
By twobyfour, May 10, 2009 @ 6:13 pm
>Why do you think this is not the case?
RL, that’s a loaded question. Maybe the author did not consider that possibility. Then the question would be:
“If you think that is not the case, why?”
But to address your point…
Perhaps it is both. Incompetence and the inherent tendency to destroy, in order to build new utopia. Perhaps the mix brings some silver lining–the ultimate damage may be not as severe doe to incompetence.
Not that there won’t be any greater damage than is already in place (next 2 generations relegated to subsistence living because of the debt servicing). The policies that are based on ideology and projections will inevitably result in a war. Nastier than both great wars and probably sooner than anyone thinks.