Posted on 03/05/2009 8:25:56 AM PST by SonOfDarkSkies
President Barack Obama is meeting strong Democratic Party resistance to his proposal to reduce tax deductions enjoyed by upper-income Americans and could be forced to drop or modify the idea.
Mr. Obama in his budget blueprint last week proposed a cap on itemized deductions for mortgage interest and charitable donations to help pay for his health-care overhaul. The plan would cost wealthier taxpayers about $318 billion in new taxes over 10 years, according to government estimates.
But after objections from Democratic lawmakers, Treasury Secretary Timothy Geithner appeared to suggest at one point Wednesday that the administration was willing to consider dropping or modifying the proposal.
The resistance from Mr. Obama's own party -- focusing on a single element of the president's tax plans -- could foreshadow broader troubles for the rest of his proposed tax increases.
(Excerpt) Read more at online.wsj.com ...
I guess some in his party want to get re-elected.
oh boy...learning on the job.
Oh, and then the left will say -
“see, it didn’t get passed, you can’t call us radical leftists or communists now”
The one still has majority Democrat support for those and it's doubtful that will change anytime soon.
Wow... I guess he got his hands on an economics 101 book in the Oval Office. Having this pissant in the White House is embarrassing.
This is ridiculous. He’s making it up as he goes along, then changing when it becomes a threat to 2012.
I did predict his program won’t pass, but this will only be true with continued strong political blowback. And even half his program is a disaster.
Also PO’s me that people can go on loving this idiot as a figurehead if his lousy programs fail.
..don’t think tea parties are not being noticed...the rat party is getting phone calls too
I saw “Mutiny On The Bounty” yesterday and when the ship’s crew threw the breadfruit plants overboard, I thought it was more like the situation we now face than the Boston Tea Party. The libs are revolting against Capt. Bly.
Community organizing isn't a cornerstone of presidential qualification?
If someone can figure out a way for Michelle to get $1,000,000 a year in return for ditching these policies, it will be done. I figure as First Lady she wants an increase from her old no show job.
It appears that “the White House” “rethinks” anything that they can’t get “bipartisan” cover for.
Like a bunch of 5 year olds and the electorate buys it!
They want cover, see my post above.
Amateur Hour in America.
Exactly.
Hillary warned that the White House would be OJT for Obama.
Dropping “charity” write-offs is a great idea. They can keep the ones for churches - taxing religion is a slippery slope at best... dump the rest of them.
Yep...still better than Alinsky hour in America. If Obama bends to the will of the people, we still have a chance.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.