Never Met a Tax He Didn’t Like
The defining trait of Obama’s presidency.
Mar 5, 2012, Vol. 17, No. 24 • By FRED BARNES
Nor does he understand why businesses are leery of hiring new workers here. On this point, his meeting with the late Apple chief Steve Jobs, disclosed in Walter Isaacson’s biography of Jobs, was revealing. Jobs explained to Obama how much easier it is to build a factory in China. Jobs said the president’s policies, especially regulatory excess and unnecessary costs, were to blame, and he told Obama, “you’re headed for a one-term presidency.”
Obama has ignored the Jobs lesson. There’s still another economic law he’s happy to violate: The more you tax something, the less you’ll get of it. The oil and gas industry is booming, so much so that the president bragged about it last week. But back away from his proposal to tax oil and gas to the tune of $40 billion over 10 years? Not a chance.
Fred Barnes is executive editor of The Weekly Standard.
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