YouTube: “Obama Pushing Massive Tax Increase”

Representative Michele Bachmann (R-MN), head of the House Tea Party Caucus, declares that Barack Obama wants to impose a “massive increase in taxes” by refusing to extend the Bush tax cuts for all Americans.  She also says the Federal Reserve’s plan to increase the money supply by buying government securities is a “huge mistake” that will boost inflation and amount to “stealing from the American people.”

As a tax attorney Bachmann worked for the U.S. Treasury Department.  Asked about tax increases she said, “The best thing to do is not increase anyone’s taxes.  “Unfortunately, President Obama’s wish list is to have a massive increase in taxes. We want to make sure no one has an increase in taxes, because for instance just in my district alone if we fail to extend these current tax rates we’re going to lose 2,000 jobs.

YouTube interview with Bachmann by Newsmax:


“I don’t think it serves anyone’s interest if we take $1.2 billion out of my district and put it in the hands of politicians in Washington. Let’s keep it back home where it will do some good.”

“We need to have some cuts, some very serious cuts. One that I would begin with is this: Treasury Secretary [Timothy] Geithner had given an unlimited credit card to Fannie Mae. Now he’s spent over $200 billion dollars. That’s real money. We need to pull that credit card away, and away from all of the various private businesses that the federal government has now gone in and either purchased or controlled.

“We need to get the federal government interest out of private business. That will save us a lot of money going forward.”  “I was ahead of the curve on this,” she says.
“I had written a letter to Federal Reserve Chair Ben Bernanke asking him to please come before our Financial Services Committee and have a hearing before he took this extraordinary action. He failed to do that, and we got just a perfunctory letter back from the Federal Reserve.

“This is a huge mistake. Quantitative easing is nothing more than government getting behind inflation. As if the government hasn’t done enough wrong to the economy by spending us into a debt that will be very difficult to pay off, now they want to inflate the money to pay off their debts that they accrued.

“This is just stealing from the American people, and its flat-out wrong.”
Regarding calls for the tea party movement and other conservatives to confront Democrats rather than compromise, the tea party leader says: “I think it’s important that we uphold our pledge.

“The tea party is not a political party, it’s a set of ideas that the GOP is now embracing. And it is this: The government needs to live within its means. Don’t spend more than you take in. No one’s taxes should go up. And act within the limits of the Constitution. That sounds like a pretty good agenda to me.”

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