Posted on 12/11/2012 3:57:31 PM PST by Free ThinkerNY
As the clock ticks toward a tax hike on all Americans in 20 days, President Obama predicted Republicans would join Democrats to extend current rates for 98 percent of earners before the end of the year.
"I'm pretty confident that Republicans would not hold middle class taxes hostage to trying to protect tax cuts for high-income individuals," Obama said today in an exclusive interview with ABC News' Barbara Walters.
"I don't think they'll do that," he said of Republicans forcing tax-rate increases for families earning $250,000 a year or less.
The sign of optimism follows weeks of tense negotiations and public posturing to avert the so-called "fiscal cliff," an economically toxic package of $6 trillion in across-the-board tax hikes and $1.2 trillion in deep spending cuts that could begin in early 2013.
(Excerpt) Read more at abcnews.go.com ...
We will see who is right. No need to speculate.
So do I.
You may as well raise rates on the "rich" because the economy is already in a recession when compared to the "Bush recession". If tax rates go up on everyone and the economy tanks, then the Republicans will be blamed. It's actually Obama's back against the wall of economic ruin brought about by his party.
In bizarre way, going over the fiscal cliff is win-win politically. Obama gets his tax increase, the republicans dont have to vote for one... thats why i think its going to happen. and after that, anything is possible...
Good analyses. The beltway GOP attacks on the kenyan have to so halfhearted. It’s obvious red meat for the base without any follow up. We’re being played.
The GOP will pay in 2014. Nobody will want to support these clueless losers. Being not Democrats isn’t good enough any more.
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