Obama admits new taxes are a drag on the economy...

[_bcspace]

...by proposing another stimulus to offset them:

http://news.yahoo.com/why-obama-pushing-stimulus-fiscal-cliff-deal-video-033547060.html

Of course a real stimulus would include eliminating the AMT or raising the level when it takes effect. Same with capital gains.

[_Kevin Graham]

He admitted no such thing. In fact the article doesn't even quote Obama.

“The increases in the top two income tax brackets would put a drag on consumption, so I think, from the Obama point of view, the spending or tax cuts are designed to offset that drag to consumption,” says Michael Brown, an economist at Wells Fargo Securities in Charlotte, N.C.

Not Obama.

Asking for more stimulus is a no-brainer to help speed up the economic recovery. It worked the first time, it will work a second time. The economic reality is obvious to economists. Only the Republicans remain in denial about this. And reducing capital gains taxes does nothing to boost economic growth. All it does is put more money into the bank accounts of the wealthy, who generally don't bother to spend it.

[_moksha]

Speaking of drag, beware of that new corny formula for gasoline. It could spell Outer Darkness for your car's engine!