The True Meaning of Sequestration

The True Meaning of Sequestration

[Sequestration] is not about spending cuts; the White House doesn't want spending cuts. Sequester is about taxes, and, specifically, tax increases. President Obama wants rich people to pay more because they don't pay their fair share - whatever that is - and it has become clear that's all he ever wants. But revenue is only part of the problem; Social Security, Medicare, and soaring health care costs are the parts the President doesn't want to look at. And taxing the rich won't solve the revenue problem, but the President has pushed himself into a corner when it comes to obviously raising taxes on everyone else (note "obviously"). And to get further tax increases, he's willing to tell the country that Armageddon is just around the corner. That may be easier than dealing with those looney Republicans in the House of Representatives, but it's not leadership and it is irresponsible.

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... We are witnessing a presidential temper tantrum, and it's over a tax increase because the Republicans won't give him one and are throwing their own temper tantrum...

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View Chris Bergin's opinion in its entirety on the taxanalysts® Blog.

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