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 ...
Then is this article out of date?
http://www.heritage.org/research/taxes/wm486.cfm
I could not find anywhere where the expiration of the rules on cap gains and dividends had been extended. I looked it up because I heard Cavuto talking about it last week and challenging an Obama guest with the fact that capgains tax rates would be going up the first of the year.
Since that affects everyone who has any money in mutual funds, that’s important to figure out.
You understand that that won't happen. The opposite will happen.
No problem. I truly wish I had been wrong and you were right! ;)
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