Obama’s Tax Plan Won’t Work

Obama’s Tax Plan Won’t Work

Cutting spending, not increasing taxes, is the way to get us out of this massive debt, says an editorial post from The Oklahoman.  Deficits have topped $1 trillion for over four consecutive years, and the national debt now totals over $16 trillion.  It’s time that our government gets its act together.

President Obama’s plan is to raise taxes on the wealthiest 1%.  But that’s silly – even if he took all of their money, the debt would still be almost $15 trillion.  That’s not a realistic plan.  And once their money is gone, it’s gone, and we can’t go back to it.

Key quote: “Obama’s tax-hike plan will only exacerbate the economic problems he has created, with little impact on the national debt.”  We need to grow, not tax and spend our way out of this debt swamp.

For more, check out The Oklahoman.

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