"As we approach the holiday season, which accounts for close to one-fifth of industry sales, retailers can’t afford the threat of tax increases on middle-class families," the White House said in an email Monday.Their report claimed that allowing the Obama tax rates to expire would reduce consumer spending 200
But wait, this is interesting. First off, why is Obama bashing Hillary Clinton's husband? Wasn't the budget balanced in the 90s after Newt got control of the purse strings and reined in spending after Billy Jeff's massive 1993 tax hike? Those are the same rates the administration is fear-mongering about, calling them onerous. Wait again--apparently only the low-end part of those rates were onerous because those who'll have their taxes raised under Obama, back to the Clinton rates, that Bush cut, in this new Obama tax cut that keeps most rates the same except the top end, would apparently not effect consumer spending whatsoever. Sounds like a Christmas miracle! [ed- edited because none of the above made any damn sense--it still doesn't--just like the current tax rhetoric]
The question is whether any of the various Mr. Potters in the GOP will be bothered to agree with the administration that, yeah, tax cuts do tend to spur spending while tax increases retard growth--see, we told you so. Or will they cower in a corner somewhere mumbling? Time will tell.