Biden Wrong: Obama Tax Hike is Only Thing We Can’t Afford

Kathryn Nix / August 27, 2010

Vice President Joe Biden is at it again, this time spouting off on his desire to raise taxes through the looming expiration of the 2001 and 2003 tax cuts.

The White House favors extending current tax policy—but only for individuals making under $200,000 and families making under $250,000, allowing rates to increase for the “the super rich.” (A family making $250,000 is doing well, to be sure, but super rich?)

But the bigger logical lapses lie in the White House’s arguments in support of higher taxes. The reality is that there is no reason or excuse to raise taxes on anyone, and it is unreal to do so during a flat economy. (more…)