Today’s Tax Day, and to help celebrate Glenn played some audio from Christiane Amanpour who refused to call raising taxes…raising taxes. Instead, she came up with a clever new term to spin President Obama’s proposed plan: revenue-raising mechanisms. Glenn reacted to her interview with Congressman Joe Walsh on radio this morning.
“Can you really sustain what everybody's calling for just by cuts in public services? Doesn't there need to be revenue-raising mechanisms?” Amanpour asked Joe Walsh.
“Christiane, you raise revenue by growing the economy and everything this President has done the last two years has gone against that. You get taxes and regulations off the backs of businesses so that revenues can increase,” he responded.
More importantly was the question the Congressman gave to Amanpour. “The President of the United States ought to be ashamed of himself, and I don't know why your profession hasn't gotten that on anymore. Two months ago, he presents a budget and doesn't talk about entitlement reform and all of a sudden last week, he gets a redo.”
“I love the fact that he's asking where is your profession. Your profession is in the bag,” Glenn said.
“She says every time we cut taxes, the budget-- the deficit still goes up. Yes, because we continue to spend more,” he added.
Glenn also pointed out that the economy didn’t grow during the periods Amanpour referenced simply because taxes were raised. Correlation does not imply causation. In the 90s, for example, the Internet bubble was a major factor behind the growth of the economy.
“It's very difficult to understand,” Stu joked.