President Obama's Tax Piracy: Custer, Pickett and the Goats of West Point

Description

Starting on Jan. 1, 2011, President Obama's economic recovery policy will begin the implementation of comprehensive, across-the-board tax rate increases for every major federal tax, along with some completely new taxes. Yet Obama and Congressional Democrats seek even more tax increases. In this insightful Broadside, Peter Ferrara shows that while President Reagan's tax policies created a 25-year economic boom, the Obama tax tsunami will sink the economy further if it is not stopped. It will produce a double-dip recession in 2011 , if not a full economic crash. President Obama's tax policies are effectively tax piracy, and they are more likely to lose revenue and leave bigger federal deficits and debt for the country.

Peter Ferrara is director of entitlement and budget policy for the Institute for Policy Innovation, a senior fellow at the Heartland Insitute, and general counsel of the American Civil Rights Union. He served in the White House Office of Policy Development under President Reagan, and as associate deputy attorney general of the United States under the first President Bush. He is a graduate of Harvard Law School and Harvard College.