Obama Flashback: Last Thing You Want in Recession is to Raise Taxes

Yesterday President Obama announced he would like to extend the Bush-Obama tax cut for one more year, but only to those making less than $250,000. The problem? His announcement contradicts yet another argument he made back in 2009. From Kerry Picket:

“Well first of all he’s right. Normally, you don’t raise taxes in a recession, which is why we haven’t and why we have, instead, cut taxes” Obama told NBC’s Chuck Todd when Todd presented a question from a viewer named Scott who asked, “Explain how raising taxes on anyone during a deep recession is going to help with the economy any?”

Obama then added, “What I have to say to Scott is his economics are right. You don’t raise taxes in a recession. We haven’t raised taxes in a recession….we have not proposed a tax hike for the wealthy that would take effect in the middle of a recession. Even the proposal that have come out of Congress, which by the way were different than the proposals I put forward, still wouldn’t kick in until after the recession was over. So he’s absolutely right. The last thing you want to do is to raise taxes in the middle of a recession.”

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