Krauthammer: "Entitlement President" Obama Wants To Close Loopholes And "Spend It On Entitlements"
CHARLES KRAUTHAMMER: Well, he did it again. He went back to the corporate jet loophole. Well, I did the math on the way over. If you collected for the hundred years, it will not cover a month of Obama spending, the corporate jet loophole. If you collect it for a century it is less than what Obama spends in a month. It's a joke, it's a way of making a point. It's the old class war stuff, it's meaningless. And it shows when he talks about loopholes all he is interested in is raising taxes so that he can spend.
Ordinarily, it's Republicans who have been interested in closing loopholes ever since the '86 tax reform, where Reagan, and Tip O'Neil, and Rostenkowski, the leading Democrats, agreed on the ultimate in tax reform, which is you close loopholes, and you use that to lower rates. And what you get is a quarter century of the economic expansion as a result.
Obama wants to close loopholes not so he can encourage economic expansion with lower rates of taxation, he wants it so he can spend it on entitlements. He is the entitlement president and what all of this is about is creating enough revenue, increasing American taxation, so that he can have an entitlement state as you have in Europe, which requires the European levels of taxation. He's not interested in debt, he's not interested in cutting, he's not interested in deficits. He wants to spend because he wants expanded state. That's what all of this is about. (Special Report, February 26, 2013)