Obama to Allow Bush Tax Cuts to Expire on Schedule

Al Reuters ^ | February 21, 2009 | Staff Writer

[Diana in Wisconsin]

WASHINGTON (Reuters) - President Barack Obama will allow tax breaks given to wealthier Americans under his predecessor, George W. Bush, to expire as scheduled rather than eliminate them sooner, an administration official said on Saturday.

Obama, who promised during his White House campaign to roll back tax cuts on people earning more than $250,000, also plans to boost tax collections from about 16 percent of the economy this year to 19 percent in 2013, the official said, confirming a Washington Post report on Obama's budget proposals for the 2010 fiscal year.

[Kickass Conservative]

“President Barack Obama will allow tax breaks given to wealthier Americans under his predecessor, George W. Bush, to expire as scheduled rather than eliminate them sooner, an administration official said on Saturday”.

Man, that's awfully white of the guy.

Tax the rich till they're rich no more.

Is it me, or are all these media stories portraying Obama as some Omnipotent Ruler that passes out his proclamations like a Roman Emperor or Pharaoh Ramses?

SO IT IS WRITTEN, SO IT IS DONE...

[Kickass Conservative]

Thanks. I wouldn't even think of trying anything like this without having posted here for a while. It gives me hope there are like minded people out there who see through the fog of ignorance that this country continues to wallow in.

I'll keep you and my other FReeper FRiends posted. The level of knowledge and intelligence in this community absolutely amazes me. And the Liberals don't think Conservatives are a diverse group.

At the very least, it will keep me off the streets. LOL

[Mr. Right Now]

Will the dems in congress drive over the cliff so willing?
Remember 1994. Maybe Obama figures he’ll inact as much of his far left agenda then get the dems in congress kicked out in 2010. Then he can run against the Rebulican congress in 2012.

[Mr. Right Now]

O must go!

[WheresMyBailout]

Do you know what I just realized what is going to save the day from this recession?

...

Bush’s back loaded tax cuts. Thank you Mr. President!

[unkus]

Please keep me posted.

And, you are to stay off the streets. LOL

Seriously, keep us posted.

[napscoordinator]

How old is your son? If he is over 18, there is no way in he!! I would allow him to live rent free in a house I was paying. Granted, he might not be making as much as you are but I would be charging him at least 20 percent of his take home pay. If he makes 1000 a month, then he should pay 200 dollars at least. You are so nice that I just might have to move in with you. Oh I will bring my wife and four kids too. lol.

[napscoordinator]

I see your reasoning. Good for you helping your son. I unfortunately thought he was like 18 or 19 just trying to “find himself”. Please forgive my post.

[VideoDoctor]

something reeeeally bad's on its way.

I'd say "bad" is the wrong choice of words. I'd use CATASTROPHIC, and I don't feel I'm exaggerating.

[MNSlim]

Leftists have always exploited fear, uncertainty and doubt to fortify their socialist desires: Manufacture and nurture a crisis of confidence through feckless big government failure and media manipulation, and propose bigger government at the expense of curtailed individual prerogatives and private markets as the solution.

We are under a barrage of anti-business, anti-market and anti-freedom propaganda from every institution of the venal left right now. The Marxists and their MSM lackeys are fully executing a plan to demoralize the citizenry and vilify all resources that don't eminate from federal, state and municipal politicans and bureaucracies.

[BigSkyFreeper]

LOL... Damn, that’s perfect.

[A. Morgan]

http://www.artoshirt.net/servlet/the-FUBO/Categories

[A. Morgan]

http://www.artoshirt.net/servlet/the-FUBO/Categories

[Mila]

You’re a good parent. God bless you and your son.

[NavVet]

I love the White House Spin, “These are the promises he got elected on.” BS, he got elected promising “Hope, Change, and tax cuts for 95% of Americans.

This is the biggest “bait and switch” in the history of everything.

[NavVet]

The beauty of Obama’s plan is the $8.00 a week “payroll tax cut” comes out of the Social Security contribution that everyone pays, even the underachievers. So their tax break will remain intact, while the rest of us will see our $8.00 a week swallowed up in the massive 2010 tax increase. The irony, is that we will also be the ones asked to pay for the payroll tax cut, which only causes the Social Security system to collapse faster than it already is.

[McGavin999]

Wealthier Americans my backside! I make around the national average and it was almost a hundred dollars a month for me. Barry is going to let that expire and give me a whole $7.69 a week instead.

Yep, there goes the economic stimulus. I'll have to stay home and not have any money left to spend on anything other than the essentials.

[Theodore R.]

This will make the American people so proud — to go after the “rich man down the street”. Soon, their own checks will be “in the mail”.

[Theodore R.]

But the American people have bountiful faith, just not in the Right One.

[Theodore R.]

Yes, and the national media would be cheering on — the tanks! And the sheeple would even agree!