Obama: We don’t want to tax “all businesses” out of business

Well that’s reassuring, via CNS:

“We  don’t want to tax all businesses out of business,” Obama said.   “But we  do think that there’s a role to play for government.”

The president’s remarks came at a private residence during a fundraising tour last week for the 2014 midterm elections.

Obama  has made similar statements in the past. When speaking about   implementing a cap and trade system when running for president in  2008,  Obama said he would bankrupt coal power plants.

The  coal industry “would have to meet the rigors of that market  and the  ratcheted-down caps that are being placed, imposed every year,”  he said. “So  if somebody wants to build a coal-powered plant, they can; it’s  just  that it will bankrupt them because they’re going to be charged a  huge  sum for all that greenhouse gas that’s being emitted,” Obama said.

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