Tuesday, August 10, 2010
Obama's Plan to Raise Taxes: "Very Dangerous" and "Patently Absurd"
The Obama administration's determination to allow the Bush tax cuts to expire for the wealthiest Americans is akin to "operating on an economic body without the benefit of anesthesia," says John Mauldin, president of Millennium Wave Advisors. "What we're doing is a grand experiment."
No fan of tax hikes in ordinary times, Mauldin says raising taxes now -- with the economy at "stall speed" and inflation near zero - is "very dangerous."
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