Barack Obama: Republican Trillion Taxcut
on Tuesday, September 11, 2018Barack Obama Money Quote saying even when Republicans control congress and the white house, they fiscal responsibility they propound and added 1 Trillion dolllars to the deficit with tax cuts for the wealthy. Barack Obama said:
“With Republicans in control of Congress and the White House, without any checks or balances whatsoever, they’ve provided another $ trillion in tax cuts to people like me who, I promise, don’t need it, and don’t even pretend to pay for them” — Barack Obama
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In this quote, Barack Obama seems to be criticizing the Republican tax cuts passed in late 2017. Some key points:
- He notes that with unified Republican control of Congress and the presidency, they faced no constraints or oversight on their agenda.
- Obama specifically calls out the $1 trillion+ tax cuts, suggesting the magnitude was excessive and unnecessary.
- He implies the cuts primarily benefited wealthy individuals like himself who were already very well off financially and did not truly “need” more tax breaks.
- Obama also argues the tax cuts were not offset or paid for, meaning they significantly increased budget deficits rather than being fiscally responsible.
Overall, the quote conveys Obama’s view that the Republican tax legislation represented an irresponsible use of unconstrained power to bestow massive, unfunded tax breaks that mainly benefited the affluent rather than spurring real economic growth or aiding those who would benefit most. For Obama, it reflected partisan overreach at the expense of fiscal prudence and middle/working class priorities.