The Blog @ Spolitics

Frank: There are a lot of rich people out there we can tax down the road

Barack Obama pledges to raise taxes on only the 5% richest Americans. But if his cronies in Congress have anything to say about it, that will just be the beginning.

When faced with the choice to cut spending or raise taxes, Democrats always choose more taxes. There’s no reason to believe that Obama’s pledge to cut taxes will not suffer the same fate as his pledge to accept public financing for his campaign, or his pledge to filibuster FISA reform, or his pledge to unilaterally renegotiate NAFTA or even his promise to root for the Phillies in the World Series.

Keep in mind, the Bush tax cuts will expire. So a President Obama would have to pass his tax cuts through Barney Frank and Nancy Pelosi’s House. Despite his promises, the smart money says Obama will raise taxes on most Americans if elected. And voters will have no one to blame but themselves. The warning signs are out there.