Not surprisingly, Republican lawmakers have uniformly come out against President Obama’s plan to pay down the deficit in part by raising taxes on the wealthy. But Sen. Richard Shelby (R-AL) had an usual attack on the proposal, telling NPR that, like the 2009 Economic Recovery Act, Obama’s new plan is just “more taxes and not enough cuts”:
SHELBY: Oh you mean his big tax increase and all that? Absolutely, I have a lot of reaction to it. We’ve seen this movie before. It’s like the son of stimulus. It’s always more taxes and not enough cuts.
As the Senate Banking Committee’s ranking member, Shelby almost certainly knows that the Recovery Act did not raise taxes. In fact, it cut them by $288 billion, mostly through tax credits for 95 percent of working families. There were zero tax increases in the stimulus package, nor were there any cuts, as the entire purpose of the bill was to jumpstart the economy.