Will Obama Dump His Tax Hikes?

Don't look for the new president to move away from one of his core economic beliefs.

By SHARE

I was part of the Election Night coverage on CNBC where there was all sorts of talk about a President Obama ditching his planned tax increases. I tend to doubt that. All of his economic advisers seem to share one core belief: Higher taxes, unless they go though the roof, don't slow economic growth. And given that an Obama administration will be on the hunt for revenue, I think still think taxes are going up. Plus, to abandon the tax increases by admitting that higher taxes hurt economic growth is really to undermine the whole intellecutual architecture of Obamanomics.

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income tax