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Obama to seek one-year extension for some of Bush tax cuts
Reuters ^ | July 9, 2012 | Reutters

Posted on 07/08/2012 10:46:10 PM PDT by Innovative

President Barack Obama will call on Monday for a one-year extension of Bush-era tax cuts for families earning less than $250,000 a year, according to a White House official, seeking to spare the economy the impact of taxes going up on January 1.

Obama, a Democrat, will make the request in a statement at the White House, said the official, who spoke on condition of anonymity. Republicans in Congress, however, are unlikely to be swayed, as they have consistently argued that the Bush tax cuts should be extended for everyone.

(Excerpt) Read more at reuters.com ...


TOPICS: Breaking News; Front Page News; Politics/Elections
KEYWORDS: bushobamataxrates; bushtaxcuts; bushtaxrates; classwarfare; elections; obama; taxcuts; taxes
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Obama must be really-really worried about getting re-elected.

Of course once he is reelected, it's for four years, so he'll just wait a year to raise your taxes.

1 posted on 07/08/2012 10:46:20 PM PDT by Innovative
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To: Innovative

Send it to him along with a permanant reversal of the obamacare taxes.


2 posted on 07/08/2012 10:49:30 PM PDT by ilgipper ( November cannot come soon enough)
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To: Innovative

Well he is getting desperate but its another election ploy to pick a fight with the house GOP, they want them all extended, he wants to make it look like he’s helping the poor, of course his base will go apoplectic because the idea of any of Bush’s tax cuts getting extended is like swallowing poison to them.


3 posted on 07/08/2012 10:49:59 PM PDT by sunmars
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To: Innovative

Obama Poised for New Fight With G.O.P. Over Tax Cuts

http://www.nytimes.com/2012/07/09/us/politics/obama-seeks-2013-tax-cuts-within-limits.html?_r=1&pagewanted=all&pagewanted=print

“Mr. Obama plans to make his announcement in the Rose Garden on Monday, senior administration officials said.
...

The White House hopes to squeeze maximum political mileage out of the Rose Garden event, surrounding Mr. Obama with families and workers who would benefit from the extension.

...

House Republicans plan to vote this month to extend permanently all of the Bush tax cuts...”


4 posted on 07/08/2012 10:51:22 PM PDT by Innovative (None are so blind that will not see.)
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To: Innovative

According to Barry the private sector is “doing just fine” so the tax cuts can stay. /s


5 posted on 07/08/2012 10:53:25 PM PDT by South40 ("Islam has a proud tradition of tolerance." Hussein Obama, Cairo, Egypt, June 4, 2009)
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To: Innovative

The first question any reporter asking the President any question about his “fair share” tax strategy is whether or not his family has been paying their own “fair share” of taxes since he’s been president. His family makes more than 250k in a year, it is quite easy to pay into the national treasury over what you are required to pay... Is he leading with his own fair share, and if not, how much more will he contribute?


6 posted on 07/08/2012 10:54:28 PM PDT by jz638
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To: South40

well Obama’s last fight over tax cuts worked so well for him...not. He never learns.


7 posted on 07/08/2012 10:55:41 PM PDT by sunmars
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To: Innovative

I’ll betcha that had Obamacare been overturned he’d not take this position. The Bush tax cuts STILL will not compensate for the over 20 new Obamacare taxes. The media will spin this is ‘compromise’ and ‘he’s leaning right!’. LOL


8 posted on 07/08/2012 11:27:16 PM PDT by Obama_Is_Sabotaging_America
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To: South40; All

I know it makes for very effective anti Obama advertising, but I think he was referring to the business sector which has large amounts of money sitting uninvested, not private individuals who are still needing fuller employment.


9 posted on 07/08/2012 11:45:06 PM PDT by gleeaikin
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To: Innovative
re: “Obama, a Democrat, will make the request in a statement at the White House, said the official”

Obama is a Democrat? I am so glad some journalist finally informed the American public.

10 posted on 07/08/2012 11:47:31 PM PDT by Nevadan
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To: Innovative

He did this in 2010, and lost.


11 posted on 07/08/2012 11:48:25 PM PDT by dixiechick2000 (This hobbit is looking for her pitchfork...God help the GOP if I find it.)
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To: Innovative

Its just a big ol game of 3 card monte with this ***hole


12 posted on 07/08/2012 11:56:05 PM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: Innovative

Yes., He keeps dishing up for us his Same Old Sh*t to keep the economy depressed while pretending to help the poor people.
Does Kenya give refunds?


13 posted on 07/09/2012 12:01:32 AM PDT by faithhopecharity
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To: gleeaikin
Sorry, not buying it. I didn't buy it when Barry said it, I didn't buy it walked it back, and I didn't buy it when DNC chair Wasserman-Schultz reiterated it on Sunday morning TV.
14 posted on 07/09/2012 12:06:16 AM PDT by South40 ("Islam has a proud tradition of tolerance." Hussein Obama, Cairo, Egypt, June 4, 2009)
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To: gleeaikin
Obama’s claim that the private sector is doing fine actually echoes the words of Senate Majority Leader Harry Reid from eight months ago. Said Reid: “It’s very clear that private-sector jobs are doing just fine.”
15 posted on 07/09/2012 12:16:20 AM PDT by South40 ("Islam has a proud tradition of tolerance." Hussein Obama, Cairo, Egypt, June 4, 2009)
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To: Nevadan
Obama is a Democrat? I am so glad some journalist finally informed the American public

He's a Marxist wannabe dictator, but the media wants people to think he's "mainstream".

16 posted on 07/09/2012 12:32:42 AM PDT by Cementjungle
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If no tax increase is necessary to “spare the economy”, why not for all incomes?

Is Obama gonna sacrifice the economy of all America just for his ‘fairness’ B.S.?


17 posted on 07/09/2012 1:23:17 AM PDT by D-fendr (Deus non alligatur sacramentis sed nos alligamur.)
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To: Innovative

Great attention should be drawn to the fact that Obamugabe’s “successes”, as seen by the general public, are by and large EXTENSIONS OF BUSH POLICIES:

a. seek and kill UBL.
b. keep GITMO open.
c. extend “Bush tax cuts”.

Whenever the prompter reading man-child veers from these policies, the public doesn’t care for them.


18 posted on 07/09/2012 2:01:43 AM PDT by SoFloFreeper
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To: Innovative

Another free commercial for Obamugabe from the Rose Garden this morning.

Will the networks comply and bury their nose further up his butt?


19 posted on 07/09/2012 2:03:20 AM PDT by SoFloFreeper
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To: SoFloFreeper

LOL...So it can be said that Obama’s only successes are Bush’s fault?


20 posted on 07/09/2012 2:06:00 AM PDT by piasa (Attitude adjustments offered here free of charge)
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To: SoFloFreeper

If they bury themselves an further up his kazoo his eyes will pop out and the grin he sports will be that of Chris Mathews.’


21 posted on 07/09/2012 2:14:09 AM PDT by piasa (Attitude adjustments offered here free of charge)
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To: Innovative

Adviser: Obama 100% Committed to Ending Bush Tax Cuts
fox8.com/CNN ^ | July 8, 2012

This was just yesterday. Followed by Blabbermouth Shultz giving her version of the private sector is doing just fine.

Seem to me the spin they are creating is not on their message but instead is people’s heads.


22 posted on 07/09/2012 2:54:30 AM PDT by mazda77 ("Defeating the Totalitarian Lie" By: Hilmar von Campe. Everybody should read it.)
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To: Innovative

The war on the “rich” continues, and it is effectively a war on employers and investors.

Doing it this way, leaving a majority of small business, and all of large business out of the loop, employment wouldn’t be helped at all. Business is still left with uncertainty.

Consumption wouldn’t be stimulated, because those who are allowed to keep what they earn would be foolish to spend it, since it’s only for one year.

Targeted and temporary is not what the economy needs. It is screaming for systemic and permanent measures.


23 posted on 07/09/2012 3:52:50 AM PDT by wayoverontheright
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To: Innovative

1) It’s a draw if all tax cuts are held.
2) Obama wins hands-down if he gets his $250k limit.
3) The Republicans win if $250k and no Obamacare taxes.
4) The Republicans win hands-down if all cuts are held and no Obamacare.
5) The Republicans win if no tax cuts get extended*

(*since then the entire country will find out, once and for all, that the so-called “Bush tax cuts for the rich” were mostly for the middle and lower classes - and they will know this before the election, as panic sets in)

And the winner is-———— (1) or (2), so don’t get your hopes up - and knowing the Republicans, we’ll be lucky to ged even (1). They are pathetic.


24 posted on 07/09/2012 4:00:27 AM PDT by BobL
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To: SoFloFreeper
"Another free commercial for Obamugabe from the Rose Garden this morning. Will the networks comply and bury their nose further up his butt?

Here, you dropped this.

/s

25 posted on 07/09/2012 4:00:37 AM PDT by Flotsam_Jetsome (If America were a car, the "Check President" light would be on.)
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To: jz638
It won't be asked because the answer is well known. Obama has consistently taken every deduction available and paid less than his bracket percentage every year he's been President.

Probably more often, but those are the years we know about.

26 posted on 07/09/2012 4:36:46 AM PDT by edpc (Wilby 2012)
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To: Innovative

under 250k? but i thought the bush tax cuts were for the rich...


27 posted on 07/09/2012 4:51:38 AM PDT by lifeisagame
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To: Innovative

I like how BUSH TAX CUTS are bad and Bush-era tax cuts are good?


28 posted on 07/09/2012 5:01:06 AM PDT by John 3_19-21 (Stand for something, or fall for anything.)
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To: Innovative

Zero may finally have realized that unless the capital gains & dividend tax rates are extended soon, there’ll be a market sell-off beginning well before the election.

Put another way, he can’t possibly win if the S&P goes down between now and election day. If the market thinks the tax cuts will expire, the S&P must start falling before year-end to discount the new rates.

If he wasn’t so tardy he’d announce a “pro stimulus investment tax cut” in September to goose up the markets.


29 posted on 07/09/2012 5:14:47 AM PDT by Vide
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To: Innovative

The lack of decision on the Bush tax cuts is already hurting the economy. Uncertainty is lethal in the business world. Larry Kudlow has been making this point daily for months.

Obama needs to pick a fight with the GOP over tax cuts to divert attention away from jobs. I hope the GOP lays low and doesn’t take the bait. Just leave him out there swinging at dead air.


30 posted on 07/09/2012 5:24:25 AM PDT by randita (Beware of those peddling fear and defeatism. They do not have our best interests at heart.)
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To: Innovative

The Liberals keep telling us the Bush tax cuts were only for the rich. Now the Bush Tax cuts include the middle class?


31 posted on 07/09/2012 5:25:15 AM PDT by grb
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To: Innovative

Ha! Now he can BLAME BUSH for the tax cut too.


32 posted on 07/09/2012 5:36:00 AM PDT by left that other site
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To: Innovative

Well he is not THAT worried about getting reelected since he keeps inisting on a $250K cap.


33 posted on 07/09/2012 6:19:21 AM PDT by plain talk
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To: mylife
If anyone is wondering -—

This fall (2012 - an election year) we get a temporary tax cut (Bush's) and a permanent tax increase (ObamaCare). In the fall of 2013 (next years after the election) we will get another permanent tax increase (Bush tax cuts go away).

Any other questions as to why the economy refuses to grow? And with out economic growth unemployment will either stay where its at or go up.

34 posted on 07/09/2012 6:21:52 AM PDT by Nip (TANSTAAFL and BOHICA)
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To: Innovative

Lying,cheating,manipulating,calculating,American-hating,commie,usurper a-hole! mmm..mmm..mmm.


35 posted on 07/09/2012 6:23:42 AM PDT by Leep (Enemy of the StatistI)
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To: faithhopecharity

It’s more than pretending to help poor people. By extending the tax cuts at the lower but not at the higher end, the tax system becomes more progressive. The ideal situation for Democraps is to have 51% or more of the voting population not paying any taxes and happily re-electing Democraps, while the other 49% foot the entire bill. They can advance this goal not just by raising taxes on the upper earners, but also by cutting taxes on the lower earners without corresponding cuts for the upper earners. They know that it is almost impossible to reverse changes that make the system more progressive. Can you imagine the negative press a tax cut that only applied to the top earners would receive?


36 posted on 07/09/2012 6:25:50 AM PDT by Scutter
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To: jz638

“The first question any reporter asking the President any question about his “fair share” tax strategy is whether or not his family has been paying their own “fair share” of taxes since he’s been president.”

You’re right, of course. Except noone ever gets to ask this guy a real question!! That is one of the many things I despise about MalX Jr and his MSM marketing department!


37 posted on 07/09/2012 6:30:14 AM PDT by Batman11 (Obama's poll numbers are so low the Kenyans are claiming he was born in the USA!)
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To: Innovative

From the Huffington post article:

Gibbs said, “We’re going to have to make some tough choices in this country. We can’t continue to spend the kind of money that was spent in the last decade.”.

How do they get away with insulting people like this?


38 posted on 07/09/2012 6:33:59 AM PDT by RWB Patriot ("My ability is a value that must be purchased and I don't recognize anyone's need as a claim on me.")
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To: Innovative

What? I thought the Bush tax cuts were for the rich only and caused the recession. Why would Obama want to extend any of them? /sarc


39 posted on 07/09/2012 6:36:52 AM PDT by KansasGirl
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To: Innovative
"Mr. Obama plans to make his announcement in the Rose Garden on Monday, senior administration officials said."

Goin' full Carter with the Rose Garden Strategy, I see...

"The White House hopes to squeeze maximum political mileage out of the Rose Garden event, surrounding Mr. Obama with families and workers who would benefit from the extension."

Bobo, you and your people -- Axelrot, Massagina, and that crazy Amish girl -- explicitly wrote off white people for this election...don't bother to turn out the lights when you pack up and leave in January...

November 27, 2011, 11:34 pm 509 Comments

The Future of the Obama Coalition

By THOMAS B. EDSALL

For decades, Democrats have suffered continuous and increasingly severe losses among white voters. But preparations by Democratic operatives for the 2012 election make it clear for the first time that the party will explicitly abandon the white working class.

All pretense of trying to win a majority of the white working class has been effectively jettisoned in favor of cementing a center-left coalition made up, on the one hand, of voters who have gotten ahead on the basis of educational attainment — professors, artists, designers, editors, human resources managers, lawyers, librarians, social workers, teachers and therapists — and a second, substantial constituency of lower-income voters who are disproportionately African-American and Hispanic."


40 posted on 07/09/2012 6:43:03 AM PDT by StAnDeliver (=)
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To: Vide
"Zero may finally have realized that unless the capital gains & dividend tax rates are extended soon, there’ll be a market sell-off beginning well before the election."

Exactly. But he'll go down hard for the loss long before he'd ever extend the full monty.

They know they're both gazillionaires in the making after each of their books come out in late 2013. Look at how much Mooch likes her portable feast. These two are looking forward to five homes and unlimited golf. He's resigned himself to defeat, you can hear it in his voice -- just going through the motions to satisfy his cadre (and to hear himself talk, which he loves).

Very different than Clinton II, they fought like hell to beat Dole, although having Perot in the pocket made it a sure thing.

41 posted on 07/09/2012 6:51:03 AM PDT by StAnDeliver (=)
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To: gleeaikin

He made the comment in relation to the fact that the private sector is showing moderate job growth while the public sector is still losing jobs. His statement reflects his world view that there is something wonderful and benevolent about government jobs. His statement was ignorant in trying to say that the private sector growth we are seeing is ‘good enough’ when we are not even keeping pace with population growth. Obama doesn’t care...he’d rather see massive government employee growth....in his eyes, then we would all be doing fine.


42 posted on 07/09/2012 7:03:32 AM PDT by ilgipper ( November cannot come soon enough)
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To: Scutter
By extending the tax cuts at the lower but not at the higher end, the tax system becomes more progressive. The ideal situation for Democraps is to have 51% or more of the voting population not paying any taxes and happily re-electing Democraps, while the other 49% foot the entire bill.

It's what this goofball has wanted all along.

43 posted on 07/09/2012 7:18:10 AM PDT by babyfreep
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To: Innovative
Obama- the guy who just shoved a massive permanent tax increase down the throats of the middle-class through Obamacare- is now going to "help" the middle-class with a one year extension. Who-hoo!...
44 posted on 07/09/2012 7:31:02 AM PDT by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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To: Innovative

Pelosi wants to permanently extend the cuts for those making less than $1 million.

The boy king is more extreme than queen nan...


45 posted on 07/09/2012 7:35:38 AM PDT by kegger8r (ABO since 2008)
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To: kegger8r

with automatic adjustments for inflation.

BTW remember the communists like pelosi consider anyone making 250k to be a millionare. In four years they will make 1 million gross.

why not 10 million? why not 20 million?

this is just a success tax.


46 posted on 07/09/2012 7:46:45 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: Innovative

I for one am sick to death of that exaggerated “$250,000” figure being it is a bogus number that has no real application and given that this idiot-ridden administration has literally abused, manipulated, and outright lied when using that bogus number. =.=


47 posted on 07/09/2012 7:49:38 AM PDT by cranked
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To: babyfreep
It's what this goofball has wanted all along.

I agree 100%. In fact, this has been a consistent goal of the whole Democrat Party, and one that they've successfully advanced even when there was a Republican president in office.

48 posted on 07/09/2012 8:01:38 AM PDT by Scutter
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To: Innovative

By now someone has surely already pointed out that the business cycle requires more than one year planning horizons.

More, just how stupid this consideration by this viscous little pipsqueak really is.

I really, really hate this POS called obastard.


49 posted on 07/09/2012 8:19:20 AM PDT by Sequoyah101 (You've been screwed by your government.)
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To: Innovative

Tax increase for $250k/yr & up + Obamacare = Bye bye jobs.


50 posted on 07/09/2012 9:14:17 AM PDT by GeorgeWashingtonsGhost
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