Posted on 09/07/2010 5:24:53 PM PDT by truthandlife
President Obama will rule out on Wednesday any compromise that would extend the Bush-era tax cuts for the wealthy beyond this year, officials said, adding a populist twist to an election-season economic package that is otherwise designed to entice support from big businesses and their Republican allies. Related
Mr. Obama’s opposition to allowing the high-end tax cuts to remain in place for even another year or two would be the signal many Congressional Democrats have been awaiting as they prepare for a showdown with Republicans on the issue and ends speculation that the White House might be open to an extension. Democrats say only the president can rally wavering lawmakers who, amid the party’s weakened poll numbers, feel increasingly vulnerable to Republican attacks if they let the top rates lapse at the end of this year as scheduled.
(Excerpt) Read more at nytimes.com ...
There goes the “recovery”...
Bill Clintoon will define “Wealthy” for us.
Because Obama knows best. His vast, extensive background in economics and his real-life business experience has taught him that it is always smart to raise taxes during a severe recession. The fastest way to job growth and economic turnaround is to soak the rich.
I think he misspoke earlier. He didn’t mean “Recovery Summer.” He meant “Redistribution Summer.”
Cat 5 headed toward the Dem Party.
This is clearly a mistake.
Oh I can’t wait to see the markets tomorrow and the price of precious metals.
Oh please announce that Obama. Pleeeeeeeease.
It’s like the gift that keeps giving. And when the Journolistas praise him for his courage in making the tough decisions, Americans will tune the cancer out even more.
If you own a car, pay your rent, or otherwise keep up with your bills, congratulations, you're wealthy!
This shows how stupid the ‘progressives’ are. The current ‘stimulus’ spending spree has to be paid for and they actually think they can send the check to the rich guy in the corner booth for collection. The problem is the rich guy in the corner booth left when the ‘progressives’ ordered the Dom Perignon 1921 for their union buddies.
How about the "Dog Days of Summer?"
-PJ
Gotta love the phrasing: “Bush-era tax cuts to wealthy”. No media bias there! Letting those evil rich keep more of their own earnings is wrong, for goodness sakes. All your money belongs to the government - anything they let you keep is a “tax cut” or some sort of “subsidy”.
Even though I’m in no realistic position to do so and unfortunately am not among the most evil earners, I find myself doing more and more research about “going Galt” . . .
I didn’t expect him not to. How else is he going to pay for the little “tax credit” election bribe he’s proposing for businesses?
I think he wants the Republicans to regain control
so if the economy continues to go south he will blame the republicans. I wish that they would garner enough seats in both houses to only need a few swing democrats to override
an Obama veto lets say on healthcare :) A girl can dream can’t she ?
Oh well. It’s not like successful small businesses are the job-creating engine of our economy or anything. (/sarc)
When Russia’s economy was collapsing, Lenin pulled back on ideology driven policies.
Doesn’t matter that it will REDUCE tax revenues. As Obama told Charlie Gibson, ‘It’s about fairness.’
Apparently, you’ve already earned enough money.
Which means he was lying the entire time as usual.
Perhaps the “Doggy Doo Days of Summer”
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