Barack Obama smiles after signing the $858 billion tax deal into law in a ceremony in the Eisenhower Executive Office Building on the White House complex, Friday, Dec. 17, 2010 in Washington. Present were Mitch McConnell and 18 other Republicans to celebrate with Obama the two year extension of all the Bush tax rates for every American. Contrast this to Obama's solitary signing of his Tax Relief Act electronically with an auto pen from Hawaii (see). Prior to the 2010 bill passing Congress Obama had said repeatedly that raising taxes on anyone (rich, poor, inbetween) during a weak economy would be bad for the recovery. And that taxes should only be raised when the economy's robust.
With Obama this week signing into law a "balanced" tax relief/deficit-debt reduction bill that raises $650 billion in new taxes on his struggling, pathetic, trickle growth economy with no real spending cuts for balanced deficit and debt reduction (and which adds significantly to the financial woes of working middle class families whose friend and benefactor he claimed to be) Obama's class warfare campaign on tax fairness turns out to be a complete and utter radically unbalanced economically regressive sham-an election year stunt where he was cynically willing to risk hurting the economy to win reelection. What Obama has done in betraying the middle class with new taxes (payroll taxes, ending loopholes, Obamacare, etc.) and raising taxes on a weak economy (when he repeatedly said this would hurt the recovery and cost jobs see) gives new meaning to the words shameless lying, self-serving hypocrisy and reckless irresponsibility.
In fact, the bipartisan bill is so fiscally bad and economically damaging that as soon as it passed the House a "triumphant" Obama quickly left Washington for Hawaii, and signed it electronically with an auto pen-instead of having a celebratory signing ceremony at the White House where not one Republican (except for Hagel and Powell) would have been present. What a miserable way to start the new year; and what an ominous day for individual freedom and the US economy which is now weaker and poorer while government is stronger and more tyrannical than ever.
In 2010 Obama willingly extended all the Bush tax rates to avoid hurting the economy and his chances of reelection; then he campaigned on the expiration of the Bush rates for the top 2% rich to appease his radical left anti-capitalist base and win reelection regardless the economic cost. When Obama's tax hikes kick in and hurt GDP growth and kill jobs he'll blame it on Republicans for not giving him a grand bargain with a jobs bill, and use it against them to win back the House for Democats. That is his plan. If Obama succeeds it won't change the fact that he's a reckless utopian crackpot staying the course to disaster and to a legacy from hell.