Obama Poised For New Fight With GOP Over Tax Cuts

President Barack Obama speaks at Carnegie Mellon University in Pittsburgh, Pa., Friday, July 6, 2012. (AP Photo/Susan Walsh)

The New York Times:

WASHINGTON — With a torpid job market and a fragile economy threatening his re-election chances, President Obama is changing the subject to tax fairness, calling for a one-year extension of the Bush-era tax cuts for people making less than $250,000.

Read the whole story at The New York Times

Comments

[Recalled]

05:09 AM on 07/28/2012

Obama extended the tax cuts for the richest of rich... why not the middle class next?

[LibertyMcG]

03:11 PM on 07/16/2012

For a cold splash of perspective, take a look at what "tax fairness" looked like when the income tax was first sold to the American people: http://libertymcg.com/2012/02/21/fair-income-taxation-1913-style/

[craigun2007]

09:34 PM on 07/13/2012

That's a quote that goes without saying! The man is the ultimate hypocrite!

[craigun2007]

09:33 PM on 07/13/2012

That's a quote that goes without saying!

[joe12]

01:56 PM on 07/12/2012

Those making over 250,000 would still be taxed at the same rate as those making less than 250,000 on the first 250,000.

[Annespeaks]

03:04 AM on 07/11/2012

Let's just get the facts straight as so many posters say Obama has raised and not lowered taxes - for once, let's look at the facts:

In February, 2009, Obama signed the American Recovery and Investment Act, which included $288 billion in tax cuts, arguably the largest tax cuts in American history. These cuts included a payroll tax credit of $400 per worker and $800 per married couple in 2009 and 2010, and an extension of revisions in the Alternative Minimum Tax, which saved middle-class Americans $70 billion. Additionally, the legislation included over $30 billion in tax cuts for American businesses. In December, 2010, President Obama signed a $858 tax cut bill into law, after almost equal numbers of Democrats and Republicans voted in support of the legislation. The package extended tax cuts signed by President Bush, cut payroll taxes by 2% for a year, and extended unemployment benefits for 13 months.

Those are the facts.

[TexasTreader]

08:02 PM on 07/09/2012

If Obama wins this (he won't) it'll be the shortest tax hike in history. The Bush tax cuts would expire at the end of December and be reinstated as soon as Romney can sign it in January.

[sharpstick]

12:27 AM on 07/10/2012

Yeah cuz they are helping us sooo much

[the964kid]

05:18 PM on 07/09/2012

No amount of money can force people to buy a bad product, just ask the makers of 'New' Coke or the debacle movie 'Waterworld.'

Romney is a bad product, and no amount of money will make people like him.

[l78lancer]

03:25 PM on 07/09/2012

The American people - including many independents and republicans - are figuring out that the GOP is running a con game here. The GOP wants to make the tax cuts permanent, yet they want to expand and increase military and defense spending and engage in other conflicts around the world. And how will they fund these exploits without additional revenue? Through debt. And debt is debt whether it's for social programs or for military. The difference is that the GOP debt is funded through borrowing more money from China thus running up the same debt they claim to be completely against. That is the scam and that is the hypocrisy. THIS IS EXACTLY THE SAME TACTIC THE GOP USED FROM 2001-2008. If the GOP wants to increase military spending they should do what they are demanding from the democrats - show how it's paid for.

And because they won't because they, can't then need to stop this scam and compromise on these tax cuts and put this matter to rest.

Of course the majority of the GOP still do not buy into this, so the only thing that will against that level of willful stubborness will be defeat. But fortunately, that is achievable.

[vogelfreund]

02:10 PM on 07/09/2012

Everyone knows that Congress is utterly incapable of doing anything these days. So it behooves everyone to plan for a return to the old higher tax tables next January 2013.

[booyahcah29]

01:55 PM on 07/09/2012

Just let the tax cuts expire already. Sheesh.

[Jaguar man]

01:26 PM on 07/09/2012

In 1981, the right wing extremists realized that the only way they would be able to eliminate the politically popular programs, that they hated, that benefited the poor, the sick, and the elderly, was to plunge the country so deep into debt that we would have no choice and have to drastically cut spending. That plan was their starve the beast strategy. With the introduction of trickle down economics/tax cuts their plan was off and running. It was working well, the debt was already up 450% by 1993, until something terrible happened. President Clin-ton, facing large projected deficits, and not being in on the joke, decided to tackle the debt problem by raising taxes and cutting spending, his Deficit Reduction Act of 1993, approved without a single Republican vote, put the brakes on the increase of the debt. Before he left office we actually had a current surplus. Then 2001 happened and the Republicans had full control of the government and were able to get back on track. They did whatever they could do to start building up the debt. They cut taxes and then the cost of Part D medicare, the cost of Homeland Security, the Cost of the TSA, and the cost of TWO wars were added to government expenditures and within 11 years they have the debt up another $10 trillion dollars, which is a job well done, for them

[Jaguar man]

01:25 PM on 07/09/2012

In 2001 the right wing extremists and Bush inherited a 4% unemployment rate, a budget surplus, rising median household income, and dropping poverty rates. They didn't care that we had economic policies that were the best we had since the 70's because they believe more in their ideology than what is best for the country. They implemented their faith based economic policies and at the end of the Bush Presidency the unemployment rate was 90% higher than it was for Clint0n's last full month in office, the debt was $5 trillion higher, Median household income was down considerably, and the poverty rate is way up. They failed in every way possible.
They had their chance, there wouldn't be a President Obama if their policies worked. There are no excuses. Romney wants to put their failed policies on steroids if he wins. Why would anyone give the right wing a chance to perhaps permanently destroy our economy?

[Rastageneral]

04:38 PM on 07/09/2012

"faith based economic policies" - the nice way of saying voodoo economics

[Godbob]

11:57 PM on 07/09/2012

Because many people are stupid and easily fooled. Critical thought is a rare skill now. The herd is being led to the slaughter and they smile all the way. At least they can watch fox news and feel good about themselves while waiting.

[CURARE]

01:00 PM on 07/09/2012

we pay more for gas, food, education and health insurance now more than ever, you know mr president unlike you our pocket dont lie, we are better off without you

[lhoffman5]

01:11 PM on 07/09/2012

:I) You do realize that you have no idea of what you are talking about.. Stop listening to RUSH, BECK, and FOX: Open eyes and brain and educate yourself! Gheeeze

[Omer the 3rd]

01:36 PM on 07/09/2012

Oh, it's Rush, Beck, and Fox's fault my wallet is more empty? Dang, I thought it was Bush's fault!

[Tammy Mancini]

02:11 PM on 07/11/2012

Why are you so anxious to give a government that can't balance a budget and control spending more money.....it only enables the government to spend more. Open your eyes and brain and educate yourself.....PLEASE

[booyahcah29]

02:02 PM on 07/09/2012

You have reasons why gas and food went up...you should look into them, research. Its not what you think it is. How are public schools expensive? Explain that to me. Repubs want to privatize schools. Health insurance has been going up for many, many years. I doubt you even really know if yours went up. You can blame private insurance for that. Repubs have always wanted the status quo, even when real change was needed. Therein lies the problem. I know you voted for Bush, so you should stay out of this conversation.

[JustABriefThought]

12:34 PM on 07/09/2012

GOP 101: Continue to borrow from China - hand the $$$ over to the mega-wealthy, Big Oil and Big Corporations - hand the CHinaFirst Credit Card bill over to the middle class and poor by laying off teachers, fire-fighters, police officers, librarians, community organizers, family planning agencies, inner-city health clinics, etc.

Then the corporations and mega-wealthy give mega-millions to GOP-TP SuperPACS to produce ads warning fairly ignorant voters that Democrats are certainly the devil - led by - well, the head devil. Assume that voters are just as ignorant as they were in 2010.

Note to GOP-TPs in Congress and on the campaign trail - never assume that voters are not bright enough to figure out when they been "had" by the 1%.

Voters will pinch their noses and vote across the ballot for Democrats - local - state - federal and President Obama.

Even "loyal" Republican voters have figured out who has THEIR back and who has the back (and the pocket) of the 1%.

Remember- the 1% only have 1% of the vote.

They are trying to buy the rest, but voters are getting smarter.

[l78lancer]

03:05 PM on 07/09/2012

Nicely stated. Fanned.

[Judy Rauch]

05:34 PM on 07/09/2012

Very well put Fanned