Tax and spend more than they take in Liberals will lie to raise taxes on those who spur economic growth.
From The Hill:
The White House released a report Monday that argues that failing to extend tax cuts for the middle class would reduce consumer spending by $200 billion — four times the amount holiday shoppers spent on Black Friday weekend in 2011.
The report was released on “Cyber Monday,” a move the White House hopes will add attention to its argument that Congress should approve extending Bush-era tax rates on households with annual income below $250,000 while raising taxes on those with higher income.
It is intended to add pressure on congressional Republicans, who have opposed raising any tax rates.
Obama was against raising taxes during a recession.
“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.
The new report comes as lawmakers return to Washington this week to begin negotiating a deal to avoid the looming “fiscal cliff.”
If lawmakers are unable to strike a deal before the end of the calendar year, taxes will increase across the board while dramatic social and defense spending cuts will be triggered automatically.
The report, issued by the National Economic Council and the Council of Economic Advisers, argues congressional Republicans should immediately extend tax cuts for all but the wealthiest Americans.
This is the same group who promised unemployment would remain below 8% if Obama’s stimulus was passed and who predicted a 5.6% unemployment rate this year. You can totally trust their numbers as much as Obama did.
“The typical middle-class family will see their taxes go up by $2,200 next year, negatively impacting businesses and retailers across the nation,” said the statement. “The president has called on Congress to take action and stop holding the middle class and our economy hostage over a disagreement on tax cuts for households with incomes over $250,000 per year.”
For 12 years, Democrats bitched about the Bush tax rates of 2001 & 2003 and lied to America by claiming the tax cuts only benefited the wealthy. Then these idiots extended these tax cuts in 2010 only to attempt to raise taxes on small business owners…err millionaires and billionaires who make $250,001 per year.