And from James Pethokoukis, "Why the Obama tax hikes have only just begun":
Total taxes are going up some $220 billion this year, including both the Obama income tax hikes and the Obamacare tax hikes. Even worse, the income tax hikes raise the burden on working, saving, and investing. They make our mess of a tax code even more damaging to growth than what it was before.Continue reading.
Nor is Obama done pushing higher taxes. As he said on New Year’s Eve, concerning the outstanding issues of the sequester and debt ceiling:
I want to make clear that any agreement we have to deal with these automatic spending cuts that are being threatened for next month, those also have to be balanced, because, remember, my principle always has been let’s do things in a balanced, responsible way. And that means the revenues have to be part of the equation in turning off the sequester and eliminating these automatic spending cuts, as well as spending cuts. Now, the same is true for any future deficit agreement. Obviously we’re going to have to do more to reduce our debt and our deficit. I’m willing to do more, but it’s going to have to be balanced. We’re going to have do it in a balanced responsible way.How much more “balance” does Obama want? ...
And from Yuval Levin, at National Review, "It’s a Spending Problem" (via Memeorandum).