“You don’t want to take money out of the economy when the economy is shrinking.”
Chuck Schumer and congressional Democrats are actively working to impose a large tax increase even as a vast majority of Americans expect a recession soon.
But Schumer is on the record stating it is a bad idea to “raise any taxes” in a recession because, “You don’t want to take money out of the economy when the economy is shrinking.”
In a CNBC Fast Money interview on Oct. 27, 2008 Schumer said:
“If we’re in a recession and we’re in a difficult economic time, I don’t think Sen. Obama or anyone else is going to raise any taxes. You don’t want to take money out of the economy when the economy is shrinking.”
Good point, Senator.
Schumer is trying to convince Sen. Joe Manchin to agree to a tax increase.
But Manchin is also on the record stating congress should not “increase any taxes” in a recession.
Here’s what Manchin said to West Virginia voters in Oct. 2010:
“I don’t think during a time of recession you mess with any of the taxes, or increase any taxes.”
Is Manchin going to go back on his word?
Even former President Barack Obama is opposed to tax increases in a recession.
“You don’t raise taxes in a recession. The last thing you want to do is to raise taxes in the middle of a recession.”
Well said, Mr. President.