Classic Obama: FY2015 budget would hike taxes by $100 billion on the one industry that’s thriving
posted at 7:21 pm on March 5, 2014 by Erika Johnsen
The White House dropped President Obama’s FY2015 budget readout yesterday, and as the NYT rather aptly titled it, it amounted to little more than a “populist wish list” that doesn’t even try to look serious about addressing our runaway entitlement spending or ballooning national debt. It includes a lot more of the stimulus-spending-as-growth utter crapola we’ve been dealing with for the past five years, and to really demonstrate just how bass-ackwards his and the Democrats’ brand of economic thinking really is, we need look no further than what his would-be budget would inflict on one of the few bright spots in his otherwise weaksauce economy.
Read: The shale boom has happened entirely incidentally to the Obama administration’s policies, offering an unexpected boon of economic growth and job creation that their own paltry policies have largely failed to produce. In their dream world, their preferred reaction to this windfall is to heap billions of dollars worth of taxes onto oil and gas companies (consumers — this means you!) to pay for their most fantastical stimulus-driven whims — and (mind-blowingly regressive) higher energy prices on fossil fuels is just an added bonus!
Reducing federal spending and regulations, thereby making it easier for businesses to grow and hire and leaving that money and capital in the private sector for investment? Pish tosh!
Breaking on Hot Air