Obama’s New Top Economist Wanted $500 Billion Per Year Consumption Tax

by Stephan Tawney on August 29, 2011

First, the Washington Post:

WASHINGTON — President Barack Obama says he wants his new economic adviser to give him guidance based on what’s best for the country, not politics.

Obama says that Alan Krueger will fill a crucial role on the White House economic team. Obama tapped Krueger Monday as the new chairman of the White House Council of Economic Advisers.

And now flashback.

It turns out in 2009 Krueger’s big idea was a $500 billion per year consumption tax. That’s right; a half-trillion dollar tax on consumers and producers. That was his big idea to get the economy turned around.

In March of this year, Kreuger predicted a steadily-declining unemployment rate moving forward. We all know how well that prediction turned out. Not so much steadily-declining as jumping and then stagnating.

This is the new guy to whom Barack Obama will turn to get the economy moving. A guy whose grand plan is a half-trillion tax on companies and consumers, and whose unemployment predictions have already been proven inaccurate.



Tags: , ,

Leave a Reply