Bill Clinton says raising taxes won't work

In an exclusive interview with Newsmax Founder and CEO Christopher Ruddy, former President Bill Clinton says Washington should not raise taxes until the slumping economy is turned around, and that President Obama's plan to tax the wealthy won’t solve the debt problem. On the eve of the 10th annual Clinton Global Initiative, the former president also had some surprising things to say about his foundation, climate change, the economy, taxes, government regulations and his fellow Democrat Obama.
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Ouch! The WH cannot be too happy with Bill right now.

 

I like Clinton - he seems like he'd be a fun guy to have a beer with. But truth be told he helped set in motion events that lead to the 2008 crash so he's probably not the best guy to be giving advice on how to fix the problem.

 

Interesting article and he makes some good points, but he also says he would not cut spending. Ouch! I guess the GOP won't be happy with that one. I'm sure that didn't fit your argument so you left that out.

 

Where in the article does he actually say "Raising taxes won't work"?

 

Read it. It's hard to miss. He even says the millionaire tax will accomplish nothing.

I actually think Clinton very subtlety just gave Obama the kiss of death.

 

I made a quick pass but didn't catch it. I don't imagine it would be hard for you to quote it. I assume you read the article up and down and sideways.

 

Not really. It's actually very hard to miss if you skim through it. But I can tell you just can't believe it. I don't want to rub salt in any wounds.

But seriously, Clinton just very gently threw Obama under a Chevy Volt.

 

It looks like the article headline is misleading. Clinton didn't say raising taxes won't work, in fact he seems to complain that there are no new taxes in Obama's plan:

 

It's not there at all is the problem, as Agent Zero correctly pointed out.

 

But Clinton has always thrown the GOP under the bus. He's a liberal. Of course he's not going to back cuts. Duh! But he's supposed to be on Obama's side. And now he's dissed Obama's signature tax.

 

I'll let you guys have the last word.

 

Don't know about AZ but this is the first time I've ever had the last word. Hopefully this is a trend that my girlfriend takes up

 

So you give credibility when one Dem opposes another and agrees with you. Then you take that credibility away when he contradicts YOUR ideology within the same breath.

No, where in the book is he supposed to be on Obama's side? The conservative political playbook? Show me a prominent Republican that ever spoke out against George Bush while in office. Oh, I forgot, he never made any mistakes.

 

Correct! I'm looking at it from a purely political perspective. Obama's presidential role model for raising taxes is Clinton. Clinton just pulled the rug out from under him and said Obama's taxes aren'g going to work. Yes he also said GOP cuts won't work, but what would you expect?? I highly doubt they were counting on his endorsement.

Yes, I believe Clinton is half right. But that misses the entire point. I think you've missed it too.

Bush got hammered by McCain every day and it took it's toll. And no, Clinton is not obligated to support Obama. But they're all dems, and an endorsement from Clinton on these new talking points would have helped Obama. Instead he just basically said, "ain't gonna work." He basically said Obama's just as bad as the GOP. Devastating.

 

OMG! Liberals are now trashing Bill Clinton in order to support Obama? Bill Clinton, the man constantly held up as the standard for a liberal President?

This is getting INSANE!

 

Unlike you I don't blindly support one side.

 

Someone who is currently supporting Obama is not capable of being nonpartisan, sorry. You're not complex, unique, or interesting. You're just a leftist drone.

 

Except that I'm not currently supporting Obama.

 

So true...

 

Americans lost the fact that whatever you feel about this millionaire surcharge, it won’t solve the problem.

I don’t think you can tax or cut taxes, I don’t think you can spend or not spend enough to get America back to a full employment economy

I think the funniest thing is he keeps mentioning that banks and corporations have 2 trillion apiece but are not investing it. Sure, they are investing it, Bill. Its just in hedges against a weak dollar and out of anything that draws them the pitiful interest rate going right now. Raise the interest rates and this money will be flowing real quick. Business loans will be worth lending and bonds will be worth holding.

 

No, it actually isn't. He doesn't just cite Clinton as the reason he wants higher taxes for the uber wealthy.

I would expect consistency in whoever read the story. But that would be impossible for a partisan.

Thanks for proving my point.

All Dems? I think the last 3 years have proved that they are not all Dems. Otherwise we'd have a better Health Care bill and no Bush tax cuts.

No, most liberals have agreed for a decade that one of Clinton's biggest mistakes was the repeal of Glass Stegall. Go check the forums. Most of us think that almost undermines his entire presidency and blame a lot of the Great Recession on that nice piece of legislation he signed as he walked out of the White House. It's actually called being nonpartisan and able to admit the faults of your own party. A concept Republicans have yet to grasp.

 

Wow, Doug, care to expand on this?


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Classic progressive schizophrenia. He wants to have his cake and eat it too.

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Or maybe he is giving a valid opinion. The way I see it is that there must be a price to pay for the recklessness of Wall Street and the ignorance of our regulators to let it happen. It was a failure on all sides. And the common folk (as usual) will pay the price. Sounds to me neither side has the answer (assuming there is a clear cut one). I only wish we got to see a progressive agenda passed so at least we could warrant the socialism attacks of the right.

 

It's not valid. That's the point. How can you continue to spend and not raise taxes??? You just want the redistribution of wealth. That's not going to solve the debt or jobs issues.

Clinton is largely responsible for the current crisis. He pushed for this trade situation with China. He was in bed with the Red Chinese for his entire presidency. The Chinese contributed to his campaigns.

As far as Wall Street goes, yes they were wrong to bundle bad mortgages together and sell them as investments. But, who made the banks make bad loans in the first place? The same people that you expect to give you a handout.

Watch this video:

[ame="http://www.youtube.com/watch?v=LPSDnGMzIdo"]Democrats were WARNED of Financial crisis and did NOTHING - YouTube[/ame]

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