Tuesday, September 7, 2010

New Sheriff In Tax Town? Obama Opposing Budget-Buster Tax Breaks For Top Incomes

Because his predecessor broke our country (among others), President Obama has been forced to devote most of his time in office to attempting to stop bleeding of worldwide magnitude.

One of his predecessor's more serious mistakes involved mindless tax-cutting while buying wars on credit, effected in a way guaranteed to engender uncertainty at the conclusion of the tax holiday. Today's signal that President Obama intends to work to ensure that the budget-busting party is over for the nation's most affluent citizens is a welcome development.

The natural next step will be to fight to restore reasonable taxation of billion-dollar inheritances.

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