Barney Frank: Raise Taxes! Barack Obama of course, will have to spend big

Barney Frank: Raise Taxes! Barack Obama of course, will have to spend big

Democratic U.S. Representative Barney Frank explained for CNBC that the next president, Barack Obama of course, will have to spend bigtime on social programs, and he said he believed that increase in spending could be covered partially be raising taxes on later on.

"I think there are some very rich people out there whom we can tax at a point down the road and recover some of this money."

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Democrats are already announcing their plans for the coming years:

1. "Spread the wealth around"

2. Increase spending significantly

3. "Deficit fear" has to take a backseat

4. Those with higher incomes will be taxes (to death and beyond)

At this moment, it seems that a majority of American voters support such grand plans. Perhaps because increasing the deficit means that their children and grand children will have to suffer, not they. Another reason could be that 'spreading the wealth around' sounds very good to those who think they will be its beneficiaries. Thirdly, one could argue that conservatives aren't explaining why fiscal conservatives provides better solutions than fiscal progressivism (or liberalism), as is clearly what Democrats propose. Source>>>

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