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6 Times Prominent Democrats Said Raising
Taxes During Recession Is a Bad Idea

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Posted By: Imright, 8/6/2022 9:12:45 PM

Prominent Democrats said six times that raising taxes during a recession was a bad idea, yet the Democrats are seeking to raise taxes on companies over the weekend. While President Joe Biden’s economy entered a recession last month, he is pushing Congressional Democrats to ram through a reconciliation bill– so-called the “Inflation Reduction Act.” The bill imposes a minimum tax on corporations with over $1 billion in profits. Democrats in the past have opposed raising taxes on corporations during a recession. In 2009, then-President Barack Obama stated, “You don’t raise taxes in a recession…

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Reply 1 - Posted by: YorkieMom 8/6/2022 9:41:12 PM (No. 1240156)
If you don’t already know they’re lying hypocrites, you haven’t been paying attention.
7 people like this.

Reply 2 - Posted by: JimBob 8/6/2022 10:19:30 PM (No. 1240175)
Marx and Lenin's fundamental method to eliminate the middle class: "Grind them between the Millstones of Inflation and High Taxes"
3 people like this.

Reply 3 - Posted by: Geoman 8/6/2022 11:26:32 PM (No. 1240218)
Mention recession they just put their fingers in their ears and blow raspberries before changing the subject by claiming they are only raising taxes on the evil rich, aka those who disagree with them politically.
2 people like this.

Reply 4 - Posted by: Paglia guy 8/7/2022 12:13:39 AM (No. 1240231)
Another masterbatory story story from bbart. Why bother writing or reading (or posting) this repetitive dribble?
2 people like this.

Reply 5 - Posted by: texaspast 8/7/2022 12:15:24 AM (No. 1240232)
This is not without precedent, and the Washington swamp knows it. Herbert Hoover, when faced with a severe recession in 1931, pushed for raising all taxes, including the income tax rate, to ward off deficit spending. Result? Recession turns into full-blown depression when the new tax rates (top income tax rate went to 63%) kick in. Investment stops. Money goes off-shore. Today's equivalent: now we have both a recession AND rising prices - a bad combination, for sure. Then Biden and the dems throw an income tax increase on the fire, and we have all the elements set up for a repeat of 1932. And that crash set up the election of FDR, which occasioned the rise of the federal agency bureaucratic juggernaut which we still have today. Are the dems trying to set up a repeat of the 1932 debacle?
2 people like this.

Reply 6 - Posted by: franq 8/7/2022 2:27:58 AM (No. 1240251)
#5, I don't know if they're trying, or just don't know any better...
0 people like this.

Reply 7 - Posted by: EJKrausJr 8/7/2022 3:57:42 AM (No. 1240275)
Lame Duck Joe doesn't care. He is taking us down the road to Venezuela. Be ready for that new diet plan, the Caracas Diet, where you can eat anything you want, if you can find it.
1 person likes this.

Reply 8 - Posted by: F15 Gork 8/7/2022 7:34:40 AM (No. 1240344)
These democrats are just fishing for a Manchin style pay day. Show them the Benjamins and they’ll come about on a dime.
1 person likes this.

Reply 9 - Posted by: MDConservative 8/7/2022 12:00:30 PM (No. 1240633)
Here's the conundrum: We have inflation and a budding recession. Recession tamps down inflation. It is a necessary ingredient to restoring some level of value equilibrium by taking excess money out of the system. Politicians don't like recessions. They cause havoc at election time. (Ask Bush 41 how that worked in '92.) Taxes do the same, as do high interest rates. So, we fight inflation with no weapons. This Inflation Reduction Act is a spending bill that will exacerbate inflation...but the unthinking will welcome the 9 percent increases via their COLAs and paid by their CDs. As usual, those ignorant of history will be repeating it with these sorts of Acts. Anyone need a WIN button?
0 people like this.

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