OBAMA MAY DELAY TAX-CUT ROLLBACK

Reuters via Comcast ^ | November 23, 2008 | Randall Mikkelsen

[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.

[TerP26]

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.

[PISANO]

You notice how they don't report the bottom tax rate for the lowest income earners would increase to 15% from the 10%, and middle income earners would go to 28% from 25% and 28% to 31%, IF THE BUSH TAX CUTS EXPIRE, they only talk about the so called "upper" marginal tax rate and the so called RICH!

Another example of how the MSM is in OBAMA's back pocket reporting only the talking points issued by the DNC.

[Lancey Howard]

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.

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!

[untwist]

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.

[ncalburt]

Exactly .

[Lancey Howard]

Actually, the full title of this article was: OBAMA MAY DELAY TAX-CUT ROLLBACK ON WEALTHY, but I accidently left the last two words off when I posted. Sorry about that.

[Lancey Howard]

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"....

[PISANO]

Sorry..... the last line should read to 31% from 28%.

[realdifferent1]

Check out This DU thread on it.

[Vince Ferrer]

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.

[ArmstedFragg]

Oh goodie! In fifty five days we can start calling them “Obama’s tax cuts for the rich”.

[LiberConservative]

That’s gonna leave a mark.

[ArmstedFragg]

Damn he's fast!

Well, that's a big change...

[libh8er]

A classic from DU "Change we can make believe in" !

DU in pre meltdown mode. Ha ha..

[libh8er]

In fifty five days we can start calling them “Obama’s tax cuts for the rich”.

Wonder how the DriveBys are going to spin this..

[Chairman of the Bard]

Ironic. Clinton Kool-Aiders insist that the 1993, retroactive $300 billion tax hike, er, “Economic Recovery Plan”, was the primary reason for the economic boom of the 1990’s. Their fantasy led them to believe that correlation = ‘cause & effect’, as though reducing the size of our paychecks somehow creates prosperity for all.

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.

[Fred]

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.

[word_warrior_bob]

LOLOLOLOLOLOL

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.

[bilhosty]

ow is he going to give 95% of us a tax cut if he doesn't roll back those tax and tax these upper income people more?
He said he was going to give us common folk a lower tax rate and his own fashionista and media tycoons were going to pay for it. I will hold him to his word. If the damn GOP country clubbers who help elect him through their incompetence and lack of responsiveness have to pay more than so be it to.

[word_warrior_bob]

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.