Taxmageddon, a one-year $494 billion tax increase, is coming on January 1, 2013. Reports of the economic destruction Taxmageddon would create are growing by the day, as is the number of respected economists, market shapers, and influential organizations warning Congress and President Obama to stop Taxmageddon to spare the economy its damaging effects.
Below is a list of those calling for Congress and the President to stop Taxmageddon. This list will be updated as more calls come for Washington to stop Taxmageddon.
- Ben Bernanke, chairman of the Federal Reserve;
- Alan Greenspan, former chairman of the Federal Reserve;
- R. Glenn Hubbard, dean of Columbia Business School;
- Edward P. Lazear, former chairman of the Council of Economic Advisors and professor at the Stanford Graduate School of Business;
- Mark Zandi, economist at Moody’s Analytics;
- Olivier Blanchard, chief economist at the International Monetary Fund;
- Alan S. Blinder, Princeton economist and former vice chairman of the Federal Reserve nominated by President Clinton;
- Irwin Kellner, chief economist at MarketWatch;
- Nouriel Roubini, professor at New York University’s Stern School of Business and chairman of Roubini Global Economics;
- Douglas W. Elmendorf, director of the Congressional Budget Office;
- Allen Sinai, chief global economist at Decision Economics;
- Donald L. Luskin, chief investment officer for Trend Macrolytics;
- Michelle Meyer, senior U.S. economist at Bank of America Merrill Lynch;
- Vincent Reinhart, chief U.S. economist at Morgan Stanley;
- Michael Hanson, senior U.S. economist at Bank of America;
- Ethan Harris, top economist at Bank of America;
- Nigel Gault, chief U.S. economist at HIS Global Insight;
- Margo Thorning, senior vice president and chief economist at the American Council for Capital Formation;
- Jerry Webman, chief economist at Oppenheimer Funds;
- David Fiorenza, economist at the Villanova School of Business;
- Miles Kimball, University of Michigan economist.
- Mohamed El-Erian, CEO of Pimco;
- Jamie Dimon, CEO of JP Morgan Chase.
Institutions, Organizations, and Associations
- Congressional Budget Office;
- Goldman Sachs;
- International Monetary Fund;
- U.S. Chamber of Commerce;
- National Association of Manufacturers;
- Ernst and Young.
Congress and President Obama should not delay any longer. They should heed the warnings of numerous economists, market shapers, and respected organizations and stop all of Taxmageddon now.