Skip to comments.OBAMA MAY DELAY TAX-CUT ROLLBACK
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 ...
And the left wing screams!
“I tried as hard as I could to give you the middle class tax cut”
Obama is channeling Bill Clinton!
19 Days +/- 24 hours.
Damn he's fast!
Go ahead, Barry, just do it. I can stand a surprise once in a while.
Obama’s looking REEEEALLY consistant.
Took him less time than it took Clinton to reverse himself. You watch for the tax hike announcement by Wednesday (hence, it being “lost” in the holiday news, and forgotten by the press the following Monday).
That gives him two years to come to his senses and renew them. If that happens even I’ll chant, “ Oh-Bah-Ma, Oh-Ba-Ma” once or twice. In the meantime, if can’t get what I want, I like to see those I dislike (the kossaks and DUmmies) not get what they want and get heartburn over this.
Prediction: Dow down 350 on Monday.
“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”
Damn, I thought we could tax our way to prosperity. The great part is that the left freely admits in this paragraph that additional tax burdens damage the economy.
When will these morons admit we don't tax wealth, we tax income.
I tried as hard as I could to give you the middle class tax cut
...then I looked over yonder and saw Paula Jones, and she had that ‘come hither’ look; then I forgot all about that there tax cut.....
HA HA HA HA HA HA HA HA HA HA HA HA HA
Thanks! This really made my Sunday extra special!
“OBAMA MAY DELAY TAX-CUT ROLLBACK”
That’s not going to go over well with his base; the ignorant “something for nothing” crowd.
Obama is clueless concerning how to get the economy back on track. The above statement is the most likely reason he would consider a delay in tax increases. Let's hope the Republicans do not fall for it.
Kool aid drinkers didn’t see this coming.....LOL !
American Idol cow eyed star struck fast food socialist society suckin sheeple voted for this POS and now they deserve to suffer for what they imposed on all of America.
Doom on Oh Crap Inc, his handlers and his idiot followers....
He has not set foot in the White House yet. It is going to be so funny to see THE ONE having to renege on all his election promises.
Correct me if I am wrong, but, I hear THE ONE has already had lied about the troops in IRAQ, The ONE will be unable to bring them home as early as he said ?
I am sniffing a "bait and switch" here. I think Obama is attempting to look good to normal America while his minions in Congress - - you know, the people who actually have to DO something to prevent the cuts from expiring - - are winking and nodding at him while they have every intention of letting the tax cuts expire on schedule.
DO NOT trust any of these lying scumbags.
I think Obama is just working up for a bigger tax hike later down the road.
he realizes he is in that tax bracket and likes his money to himself. He also realizes that the voice about taxing the rich even more is a small but loud minority. Good for him. Let’s hope he doesn’t ever touch this and realizes how dumb taxing the rich even more is. He does want to be elected again in 4 years and taxing the rich is not the way to get this economy back on track.
Another example of how the MSM is in OBAMA's back pocket reporting only the talking points issued by the DNC.
Well, "delaying" them would give him a second shot at "promising" his looney-left base that he will let them expire just in time for the 2012 election. It's a two-fer!
This is a great opportunity for the Republicans to get together on something significant and position themselves for the mid-term elections. Obama comes in realizing that the past and current government excesses have effectively tied his hands on a lot of his leftist desires.
If the Republicans can at least grow a spine on this, we could see some turnaround in a couple of years.
That is a big "if"....
Sorry..... the last line should read to 31% from 28%.
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.
Oh goodie! In fifty five days we can start calling them “Obama’s tax cuts for the rich”.
That’s gonna leave a mark.
Well, that's a big change...
DU in pre meltdown mode. Ha ha..
Wonder how the DriveBys are going to spin this..
Since our Dear Leader is affectively re-creating the Clinton administration (CHANGE we can believe in!!), shouldn't he be touting a massive tax increase as the one true path to our prosperity? We all recall the Democrats demagoguing the economy in 1992 as “the worst economy since the Great Depression”.
Obama’s a congenital liar. He cannot help himself.
All ‘The One’ has to do it wait for the Bush cap gains tax cut to expire in 2010. That alone is a huge tax increase.
I was waiting for this, dems are so predictable, we missed an opportunity here, any of us could have went on Montel Williams and proved that we’re “pyschic” like that fat fraud psychic he has on.
That McCain let him lie about taxes the whole campaign is to McCain’s eternal shame, he didn’t even wait to take office like Clinton.
Lurking moonbats: You are the dumbest people on earth, Communists don’t lower taxes.
Obama announced his stimulus package on the radio, he is going to create 2.5 million new jobs, how? They’re going to be ALL GOVERNMENT jobs and building roads, etc. Those road building contracts always go to the most corrupt. Remember the bridge collapse after the CA earthquake, they contracted it out privately and it went 10 times faster.
“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.
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.