Posted on 11/23/2008 9:25:12 AM PST by Lancey Howard
President-elect Barack Obama may consider delaying a campaign promise - to roll back tax cuts on high-income Americans - as part of his economic recovery strategy, two aides said on Sunday.
David Axelrod, the Obama campaign strategist who was chosen to be a senior White House adviser, was asked if the tax cuts could be allowed to expire on schedule after tax year 2010 rather than being rolled back by legislation earlier. "Those considerations will be made," he said on "Fox News Sunday."
Bill Daley, an adviser to Obama and commerce secretary under former President Bill Clinton, said on NBC's "Meet the Press" that the 2010 scenario "looks more likely than not."
President George W. Bush's tax cuts are set to expire at the end of 2010. After that they would revert to 2001 levels, when the top individual tax rate was 39.6 percent.
Obama has called for reducing taxes for the middle class, but requiring the wealthiest Americans to pay more than the current top rate of 35 percent.
His aides' comments suggest Obama may be wary of imposing any additional tax burden at a time of deep crisis, despite the outlook for record budget deficits and mounting national debt. He may also be seeking to bolster Republican support for his recovery measures.
(Excerpt) Read more at comcast.net ...
“Good for him. There will be plenty to criticise in his administration, but at least he is doing this right. Make them permanent, and cut spending, and it will have an even better effect on the economy.”
Agree with that except it would help people’s retirement plans if he would make the capital gains zero. Maybe Obama has some common sense.
So this is GOOD news for us?
This guy is headed to 2010 election of democrats. He has a political strategy to win elections like 06+08. Republicans appear to have nothing and stand for nothing. Give the candy first, the taxes later after election. by then everyones soul will be owned by Democrats.
1993 Clinton stimulus package failed and he raised taxes truely worried about deficits, these guys got a huge set of gifts handed to them,
Simple. It's called BIOB. Blame It On Bush. He will say (or the Drive Bys will say it for him) that Bush created an economic scenario far worse than thought earlier and given the circumstance we find ourselves in, he has no choice but renege on some of his campaign promises. The DriveBys will give him a complete pass, the lunatic fringe blogosphere will grunt and groan for a while, but after a while it will be completely forgotten. In fact he will get all the CREDIT for saving us from Bush's economic mess !
Here's one -
The rich are great black holes into which the money disappears, never to be seen again. Appropriate taxation of the rich prevents the buildup of hoards of idle cash which can cause calamities like the one we are in now. If those people earning $250,000 and up had paid their share of the taxes, we would have infrastructure and health care, no deficit, and most likely no Depression looming. And they would have real profits, not paper ones that vanish in a panic.
And when someone actually has the nerve to balk at high tax brackets he gets this in response -
When you pay your taxes you are not "subsidizing" the poor and middle class -- You are simply making some RESTORATION for the special privileges you've been given --- among many other privileges --
In fact, if we had never had these few hundreds of years of capitalism/corporatism we'd probably still have citizens with options other than working for corporations and/or as near-slaves all over the world for capitalists. Perhaps we might even have prevented this capitalistic desecration of nature -- of the planet which has been so completely polluted and sickened. Additionally, a privileged status often provides a way to gain special favors from legislators/government and others, adding up to total corruption of the system.
HOLY MOLEY.
Yes, it is a big if. The consequences of not having a strong pro tax cut message are an even deeper recession. If the Republicans can’t deliver then it’s time for a new, conservative party.
Proud product of the NEA.
John Boehner is proposing that. Hopefully that can get passed, as it is a double tax already.
Meet the Press this morning was an exhibit of Tom Brokaw and Bill Daley drunk on power. Tom was calling for the overthrow of the government and was demanding that George Bush leave now so that Barry can take total control prior to January. Brokaw is lost without his teleprompter.
That’s big of Bill Daley to consider letting us keep our money. I’m having a hard time believing that Chicago machine politics are being forced on the Nation.
One poster commented that he loved “whiney rich people”, which is hilarious given that the majority of posters on that thread are whiney poor people.
They will never, ever admit that. True great wealth is protected and passed from generation to generation as the oligarchy reigns while those trying to create are beaten half to death.
The dummies are in full meltdown mode
Well now, that is CHANGE I think I like. :)
This tells me that he has NO Republican support for the huge transfer of wealth make work program (fraudulently called Economic Stimulus) and may be lacking support from some conservative Democrats, as well.
Just like the auto co. bailout, Democrats want Republican cover for this economic stimulus transfer of wealth program, because both of those are going to balloon the debt.
They’re having to bargain away immediate wealth spreading (tax) hikes.
Let’s hope Pubbies stick to their guns and insist on wealth spreading cuts to encourage private business to create jobs.
Guys, this is all politics. There was an article about this a couple of days ago. Yeah, he won’t introduce legislation to directly increase taxes because that will look bad politically. Instead he’s just going to allow the Bush tax-cuts to expire in 2010. That way he can claim that he never raised anyone’s taxes.
Heres the link for the Digg article
http://digg.com/world_news/Obama_may_delay_tax_cut_rollback_for_wealthy
Obama, you’re on a roll, don’t stop. The GOP didn’t tell you this, but you can really kick start economy by just shutting down the government.
Let me be the first to say:
Bwahahahahaahaha.
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