QuoteProject
The last thing you want to do is raise taxes in the middle of the recession because that would just suck up and take more demand out of the economy and put businesses in a further hole.
Barack Obama
ShareWTF𝕏

Interpretation

What this quote means

Raising taxes during a recession can harm the economy by reducing demand.

In this quote, Barack Obama emphasizes the negative impact of increasing taxes during a recession. He argues that such a move would diminish consumer demand, further exacerbating economic struggles for businesses and potentially prolonging the downturn. This perspective highlights the importance of maintaining economic stimulation during difficult financial times rather than imposing additional burdens on individuals and enterprises.

Themes

TaxesRecessionEconomyDemandBusinesses

In practice

Example use cases

In a discussion about economic recovery strategies.

More from Barack Obama

There will be setbacks and false starts. There are many who won't agree with every decision or policy I make as president. And we know the government can't solve every problem. But I will always be honest with you about the challenges we face. I will listen to you, especially when we disagree. And, above all, I will ask you to join in the work of remaking this nation, the only way it's been done in America for 221 years -- block by block, brick by brick, calloused hand by calloused hand.
Barack ObamaRead
Now we're in the midst of not just advocating for change, not just calling for change - we're doing the grinding, sometimes frustrating work of delivering change - inch by inch, day by day.
Barack ObamaRead
The government has to treat all citizens equally. I am a strong supporter not of a weak version of civil unions, but of a strong version, in which the rights that are conferred at the federal level to persons who are part of the same-sex union are compatible. When it comes to federal rights, the over 1,100 rights that right now are not being given to same-sex couples, I think that's unacceptable.
Barack ObamaRead
Simple exchanges can break down walls between us, for when people come together and speak to one another and share a common experience, then their common humanity is revealed. We are reminded that we're joined together by our pursuit of a life that's productive and purposeful, and when that happens mistrust begins to fade and our smaller differences no longer overshadow the things that we share. And that's where progress begins.
Barack ObamaRead
We've had every official in Hawaii, Democrat and Republican, every news outlet that has investigated this, confirm that, yes, in fact, I was born in Hawaii, Aug. 4, 1961, in Kapiolani Hospital.
Barack ObamaRead
What is required of us now is a new era of responsibility - a recognition, on the part of every American, that we have duties to ourselves, our nation, and the world, duties that we do not grudgingly accept but rather seize gladly, firm in the knowledge that there is nothing so satisfying to the spirit, so defining of our character, than giving our all to a difficult task. This is the price and the promise of citizenship.
Barack ObamaRead

Similar quotes

Wealthy Americans who benefit hugely from a system rigged in their favor react with hysteria to anyone who points out just how rigged the system is.
Paul KrugmanRead
It's one thing to recognize that the gap between the rich and everybody else is growing like a cancer; it's another thing to come up with useful solutions.
Molly IvinsRead
You don't drive an economy by consuming - the consumer is not the engine, the consumer is the caboose.
Peter SchiffRead
The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.
Lord ActonRead
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
Friedrich August Von HayekRead
Governments don't reduce deficits by raising taxes on the people; governments reduce deficits by controlling spending and stimulating new wealth.
Ronald ReaganRead

A little wisdom, now and then

Subscribe for the occasional hand-picked quote. No noise.