Former Alaska Gov. Sarah Palin said on Sunday that President Barack Obama’s decision to allow a portion of the Bush administration tax cuts to expire is an “idiotic” move that will lead to less employment opportunities for Americans.
“You don’t take more from the private sector and grow government with it and that’s exactly what Obama has in mind with this expiration of Bush tax cuts proposal of his,” Palin said on “Fox News Sunday.”
“His commitment to let previous tax cuts expire are going to lead to even fewer jobs for Americans . . . It’s idiotic to think about increasing taxes at a time like this,” the former Republican vice presidential nominee continued.
The Obama administration has signaled it will allow tax cuts for families earning $250,000 a year or more expire later this year while extending them for the rest of income earners.
While Republicans argue that policy will hurt small businesses, Treasury Secretary Tim Geithner has attempted to sell it as a pathway towards a balanced budget.
“This is going to result in the largest tax increase in U.S. history and again it’s idiotic. My palm isn’t large enough to write all my notes down on what this tax increase will result in,” Palin said, referencing some words written on her hand with a black marker.
When Fox host Chris Wallace asked what she had written on her hand, Palin replied, “$3.8 million trillion dollars next 10 years so I didn’t say $3.7 and then get dinged by the liberals saying I didn’t know what I was talking about.”
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