SAN FRANCISCO (CBS.MW) -- He never felt the need to recite his father's infamous "no new taxes" pledge, and yet President Bush ran for re-election on a tacit promise to extend the tax cuts he lobbied so hard to pass in his first term.
Unfortunately, say some analysts, the reality of wartime spending and other obligations make it increasingly likely that Washington will be forced to consider tax increases, rather than cuts.
"President Bush is very much against raising taxes," said Alan Auerbach, an economist at U.C. Berkeley who worked on the Kerry campaign. "On the other hand, he's got a war. He just asked for an additional appropriation for that. Expenditures on large entitlement programs are going up every year. That is not a sustainable path. He's going to have to do something." Listen to the interview with Auerbach.
"I won't say he's painted himself into a corner but he's made it pretty clear he wants to make his tax cuts permanent. He's also made it clear he's not in the mood to introduce new taxes. It's not clear how he's going to accomplish this."
more... http://cbs.marketwatch.com/news/story.asp?guid={89A90FE9-702C-4974-94DF-7BB8CED8A1E9}&siteid=mktw
ROFL! Bushies will piss in their pants when/if tax increases! Europeans are right about Bushies after all! Well, when did Bush ever keep his promise? 98% of promises has been un-kept.
Unfortunately, say some analysts, the reality of wartime spending and other obligations make it increasingly likely that Washington will be forced to consider tax increases, rather than cuts.
"President Bush is very much against raising taxes," said Alan Auerbach, an economist at U.C. Berkeley who worked on the Kerry campaign. "On the other hand, he's got a war. He just asked for an additional appropriation for that. Expenditures on large entitlement programs are going up every year. That is not a sustainable path. He's going to have to do something." Listen to the interview with Auerbach.
"I won't say he's painted himself into a corner but he's made it pretty clear he wants to make his tax cuts permanent. He's also made it clear he's not in the mood to introduce new taxes. It's not clear how he's going to accomplish this."
more... http://cbs.marketwatch.com/news/story.asp?guid={89A90FE9-702C-4974-94DF-7BB8CED8A1E9}&siteid=mktw
ROFL! Bushies will piss in their pants when/if tax increases! Europeans are right about Bushies after all! Well, when did Bush ever keep his promise? 98% of promises has been un-kept.
