Obama repeats Clintonesque tax hike
Do you remember President Clinton breaking his promise about tax cuts? And how he subsequently raised them instead? (h/t: Grek Mankiw) Seeking to explain why he is backtracking on a campaign promise to cut taxes for the middle class, President-elect Bill Clinton said Thursday that the plan was never a major theme in his race for the White House. Mr. Clinton, speaking at a news conference a day after saying he would have to “revisit” his tax-cut plan, said Americans voted for him because of the “big things” he wanted to do. The middle-class tax cut, he said, was not among them. He said he was “absolutely mystified” that the news media had perceived it as a major pledge....
