Quote Originally Posted by Xiahou View Post
Frankly, it looks like we're already headed towards a double-dip recession. The first quarter growth was just revised down to 0.4%. The second quarter initial numbers are a tepid 1.3% and likely to be revised down later as well. If you think raising taxes is the solution to this problem.... see my earlier post. Higher taxes would further damage the economy and likely result in lower tax revenue. I'm afraid you're going to have to hold off on your redistribution of wealth until we're in better economic times.
Except they were not raises on individual tax rates. Obama's proposal had all revenues coming from closing corporate and individual tax loopholes. No rates were raised.