Monday, August 30, 2010

Did Obama really call for eliminating capital gains taxes?

Why, yes.  Yes, he did.  During his interview with Brian Williams of NBC News yesterday evening:

BRIAN WILLIAMS: Let's talk about another topic that's part of the firmament here and everywhere. And that's the economy. The New York Times said this weekend, "President Obama has another new plan on the economy. Now would be a good time to find out about it." Do you have anything new on the economy? And while you've been away, we had a horrible GDP number last month.

PRESIDENT OBAMA: Well, look, we — we anticipated that the recovery was slowing. The economy is still growing, but it's not growing as fast as it needs to. I've got things right now in — before Congress that we should move immediately. And I've said so before I went on vacation, and I'll keep on saying when I — now that I'm back. We should be passing legislation that helps small businesses get credit, that eliminates capital gains taxes so that they have more incentive to invest right now.

I am no supporter of President Obama. Not politically, not ideologically, not philosophically.  But this is an idea I can get behind.  I only wonder how Democrats in Congress feel about the prospect of returning after the Labor Day recess and being asked to pass legislation that eliminates capital gains taxes.

One can only imagine the reaction from the “professional left.”  John Boehner should immediately submit the matter as privileged resolution.

Harry Reid’s head will explode.  Nancy Pelosi’s head will rotate 360 degrees.  Counter-clockwise.