President Barack Obama maintains he has an answer to the nation's economic woes: massive tax increases. He has asked specifically for nearly $2 trillion in new taxes. In addition, his health care and "green" energy initiatives are likely to cost consumers hundreds of billions of dollars a year.
In other words, the president thinks more money in government's pocket and less in ours is a good idea.
Recently the Labor Department reported that in 2010, consumer spending fell by about 2 percent compared to the previous year. Americans' incomes fell, on average by 1.7 percent in 2009-2010.
We're spending less because we have less. Of course the economy isn't doing well.
Again, Obama's answer to all that is to take even more out of our paychecks, through steps that will affect every American, not just "the rich." Do the math. That simply doesn't make sense.