Your taxes are going up.
Much as we hate to be the bearer of bad news, we think you ought to know.
No, we haven't forgotten the president's oft-repeated campaign promise not to raise your taxes. Unless you are rich, of course. But to the middle class he promised, "You will not see your taxes increased by a single dime. Not your income tax, not your payroll tax, not your capital gains tax. No taxes."
At the time, Obama's opponents said the math didn't work -- he simply would not be able to do all he promised without broad tax hikes. But Obama insisted he could and would. Since then, however, economic realities have set in. And those economic realities were manufactured in Washington.
Now the administration is starting to gently break the bad news: one way or another, you're going to pay more for the federal government's excesses.
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But don't take our word for it. Listen to Timothy Geithner, the former New York Fed chief whom the president chose to lead the Treasury Department because Obama deemed him the only person capable of steering the U.S. economy out of the recession. On ABC's "This Week" Sunday, host George Stephanopoulos asked Geithner if the president would have to break his pledge not to raise taxes on 95 percent of Americans. He responded, "We're going to have to do what's necessary." ...
Congress is showing no signs of getting deficit spending under control. Higher taxes are inevitable. The only question is the form. ...
Yes, middle class taxpayers, you're going to pay more. The rich just don't make enough money to keep up with the spending appetites of Congress.
Paducah (Ky.) Sun
