Obama 2009: The Last Thing You Want is to Raise Taxes in a Recession (Video)
Posted by FactReal on July 11, 2011
Obama is now calling for tax increases, but in 2009 he was against it.
Video via GatewayPundit:
Transcript via Doug Powers: “Obama’s 2009 interview with NBC’s Chuck Todd during which Obama warned against raising taxes on anybody — even the rich — during a recession.”
August 5, 2009 – NBC Interview1:
|Todd: Let me jump to another topic, Scott Ferguson, he’s upset about taxes, he says: “Explain how raising taxes on anyone during a deep recession is going to help with the economy.” And he actually wants to you look at historical markers where this has been — you say, you know, where this has been a helpful thing coming out of a recession.
Obama: Well, first of all, he is right. Normally, you don’t raise taxes in a recession, which is why we haven’t and why we have instead cut taxes. So I guess what I would say to Scott is his economics are right, you don’t raise taxes in a recession. We haven’t raised taxes in a recession. We don’t have a…
Todd: But you might for health care. You might for the highest — for some of the wealthiest.
Obama: The — we have not proposed a tax hike for the wealthy that would take effect in the middle of a recession. Even the proposals that have come out of Congress, which, by the way, were different from the proposals I put forward, still wouldn’t kick in until after the recession was over.
So he is absolutely right, the last thing you want to do is to raise taxes in the middle of a recession because that would just suck up — take more demand out of the economy and put businesses in a further hole.
|1. MSNBC, Obama: We must ‘help Elkhart reinvent itself’ – 8/5/2009