Obama’s big government projects mean higher taxes in the future, says Mark Steyn
According to Mark Steyn’s latest column in the Orange Country Register, the U.S., Britain and Italy have at least two things in common when it comes to their finances: all three spent untold billions stimulating their economies and all three are the only major economies that are still in a downturn. Of the three, the U.S. has the most shameful record: “Gordon Brown and Silvio Berlusconi can’t compete with Obama’s $800-billion porkapalooza,” Steyn writes. “The president has borrowed more money to spend to less effect than anybody on the planet.” Steyn’s real fear, though, is that those stimulus dollars, along with the White House’s ambitious healthcare reforms, will burden future generations with a crippling debt load that can only be lessened through higher taxes. Americans are realizing this, Steyn argues, even if their fears seem perversely optimistic. “More and more Americans are beginning to figure out what percentage of them will wind up in ‘the richest 5 percent’ [on which the Democrats will purportedly raise taxes] before this binge is over,” he writes. “According to Gallup, nearly 70 percent of Americans now expect higher taxes under Obama.”