Although the line appears only once in the transcript of his budget speech, President Obama liked it so much that he used it twice on his audience at George Washington University: “I don’t need another tax cut,” he said.
Why this strikes him as a knockdown argument against cutting taxes is open to speculation. Aside from the fact that the president is a government worker whose salary represents little in the way of increased productivity or profits, his self-regarding snub of tax relief is a special variation of the argumentum ad ignorantiam or appeal to ignorance. Since he does not know why a tax cut would do any good (for him), he can’t see how it would do any good for anyone. The argument may be false, but at least it makes the president looks smug.