Forbes Says Market Would Soar if Obama Kept Bush Tax Cuts

In January of 2011, President George W. Bush's tax cuts will expire. Economists are predicting that allowing these cuts to expire could trigger a second recession, "for an administration, that for political reasons would want a vibrant economy," said successful businessman Steve Forbes "letting the Bush Tax Cuts expire would be a dampener on the economy.

But what if we kept them all in place?

www.humanevents.com

Category:

News & Politics

Tags:

• Steve Forbes
• Barack Obama
• Bush Tax Cuts
• Recession
• Laffer
• market
• Michelle Oddis
• Human Events

[kevcl747]

Like it or not 70% of the US economy is consumer spending. The upper 1% account for 30% of consumer spending. Take money away from them and the economy suffers, period. Several years ago Dems tried a luxury tax and it backfired . Revenue went down instead of up . Whole industries were wiped out like boat building and 1000's of jobs were lost. Obama policies kill jobs. End of story!

[glazierEd]

The rich get richer and the middle class can pound salt. They will get their extension, and mark my words, it will be business as usual. They will invest More money in new employees, in The Peoples Republic Of China. How can the American worker compete against a slave? This happens and this country will have a massive revolution against the haves.

[swankrecords]

Forbes? Maybe somebody should break his neck.

[MegaFlyingPilot]

When O When will Americans realize that Obama is an ENEMY of the American society? He couldn't care less about us. He deems us as racist, spoiled brats who deserve our comeuppance. Each week, you'll see him diligently destroy the tools of our nation. Open your eyes. His mother was a Marxist. She dedicated her son to this very purpose.

[wils0007]

@curvalecce Your absolutely right, raising the cost of doing business (which is what taxes are) would have no effect on how much people will conduct business (sarcasm). Tax the wealthy enough and they'll stop working. It's pointless to conduct a business for no return. Then we are all unemployed. Everything he has said here is accurate. If you don't believe so, you have no concept of economics.

[toddwquigley]

Foolish people:

The really rich that you so hate, already don't pay taxes, and nothing you can do will change that. The tax cuts effect small business owners, the very same people that work 14 hr days, and take home little more than their employees who work 8 hr days.

Those who complain about tax cuts, haven't a clue of how the economy actually works. If there is no incentive to work harder because the government will just take it away, people won't, and more jobs will dry up.

[tehKap0w]

wtf?! Steve Forbes, you are a flaccid tool.

At least your are gimpy enough to lie about this (or are you professing your idiocy?) to the public so we can understand what happened to your spine.

[wvu212]

Lol is this guy is supposed to be an expert?

[curvalecce]

So we have a rich man telling us tax-cuts for the rich are good. Right. Unbiased reporting takes another kick in the guts.

[sep0507]

Those that have the means haven't done much for America lately. How do you figure that by allowing the tax cuts to continue, it would suddenly cause those with means to become generous in the market. GET REAL!