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“Sadly, I was wrong” about Obama, isn’t good enough

Home - by - December 6, 2012 - 10:00 America/New_York - 6 Comments

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The country deserved better geniuses

More of the post-election mea culpas.

Sorry, my response remains the same, Disheartened Obamaphiles should just stop talking.

Add another to the list, Harvard Professor of Economics Greg Mankiw.

 

Randall Hoven@RandallHoven

If in 2008 you thought Obama was a moderate, you’re not as smart as you think you are, Professor Mankiw.gregmankiw.blogspot.com/2012/12/an-unf…

 

(emphasis mine)

Wednesday, December 05, 2012

An Unfortunate Broken Promise

Back in 2008, when President Obama was running for his first term, he promised to be a post-partisan leader. While a Democrat, he said he would accept good ideas when they came from Republicans. At the time, I believed him, at least to some degree. And I wrote about it in this NY Times column.

Sadly, I was wrong. The short version of the story is this: As a candidate, President Obama campaigned on a platform of raising taxes on the rich. Yet he and his economic advisers also said they wanted to raise dividend taxes only slightly, from 15 to 20 percent. For reasons I explained in the Times article, keeping dividend taxes low was a position bolstered by good economics. Now, however, the president wants to raise dividend taxes to ordinary income tax rates (plus, for high-income taxpayers, the new tax of 3.8 percent that is part of the Obamacare legislation).

To be it another way, he campaigned as a moderate, willing to concede that the other party had some good ideas on tax policy. Once in office, he gave up on those ideas.

 

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» 6 Comments

  1. Menderman

    December 6th, 2012

    So Obama wants 3.8% for obamacare, and wants 39.9% in income tax on capital gains and dividends? So, if I sell my house for $100K more than I bought it for 18 years ago, I gotta write a check to the IRS for $43,700?

    I don’t see that as a good way to re-vamp the economy.

    Oh, and I would have to write a check to the NC dept. of Rev. for $7,750.

    yeah, we are screwed.

    Thumb up +7

     
  2. Dr. Tar

    December 6th, 2012

    These left wing regretters better be careful.

    The first people executed by Hitler were fellow Nazis (see night of the long knives) and Stalin’s Russia was one purge after another of fellow Commies.

    Thumb up +4

     
  3. Two Legged Blue Eyed Cracker

    December 6th, 2012

    Confucius say: “No shit Sherlock”

    Thumb up +7

     
  4. thirdtwin

    December 6th, 2012

    Hey Prof…how ’bout you stop talking to this “Sadly” person and let me give you the “short version”? Here goes:

    “I fucked up. I voted for a smooth-telepromptering crypto-Marxist because I failed to do my homework like I demand my students to do, plus all my friends were voting for him.

    I compounded my error by sitting at home on election day and doing shots with my friend Sadly, because I could not bring myself to vote for Romney. No, wait…I did vote. But I voted for Obama again. But I voted for him with Regret. He gave me and Sadly a ride to the polls because we were both too drunk.”

    Thumb up +8

     
  5. RightWinger

    December 6th, 2012

    “Once in office, he gave up on those ideas.”

    Really? You mean the first time around Barry did the same thing, you really thought the 2nd time around things would change?

    Watch Barry try to maneuver himself to get a 3rd term ala Doomberg. This doof will be saying to everybody 3rd times the charm!

    Thumb up +5

     
  6. Carlos The Jackal

    December 6th, 2012

    Notice there’s no reduction in arrogance; he thinks this is only apparent because HE figured it out. Death to libtard professors, regardless of their personal epiphanies.

    Thumb up +8