So says… Barack Obama?
“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 in 2009 when asked to explain how raising taxes during a deep recession would help with the economy.”
The president then added: “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… The last thing you want to do is to raise taxes in the middle of a recession.”
“I believe that the tax cuts for the wealthiest Americans, folks like myself, to expire,” Obama announced Monday. “I’m not proposing anything radical here. I just believe that anybody making over $250,000 a year should go back to the income tax rates we were paying under Bill Clinton,” he said.
And speaking of Bill Clinton…
In related related news, Clinton insists that Congress should extend the Bush tax cuts for all income levels.