Obama Supporters Laying Groundwork For Tax Increases on Everyone

Anyone with half a brain knew that Obama's promise not to raise taxes on anyone making under $250K was a bold-faced lie. Now his supporters are saying that tax increases are inevitable and none of it is Obama's fault. Take billionaire Roger Altman (a huge Democrat donor) writing in the WSJ:

Why has the deficit outlook changed? Two main reasons: The burst of spending in recent years and the growing likelihood of a weak economic recovery. The latter would mean considerably lower federal revenues, the compiling of more interest on our growing debt, and thus higher deficits.

This is absurd. The growing deficit could easily be restrained - from the useless "stimulus" bill that under any other President would be called a "runaway government pork bill," the carbon tax that will destroy the country's productivity and the health care industry takeover that would further destroy cost containment. And the economy will not rebound quickly unless Obama gets off the backs of businesses. Altman ends his op-ed with the following:

This challenge may be the toughest one Mr. Obama faces in his first term. Fortunately, the new president is enormously gifted. That's important, because it is no longer a matter of whether tax revenues must increase, but how.

If this is the attitude of the Obama crowd, then this country is completely screwed until the next President comes along and stops the destruction. Or if Altman is really that concerned, perhaps he should support a "billionaire" tax, which surely would be the quickest way to raise a lot of revenue - I'm sure Altman, Buffett, Gates, and the like would have no problem with that.