Obama may delay tax-cut rollback for wealthy

Discussion in 'Politics' started by KenH, Nov 23, 2008.

  1. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    Obama may delay tax-cut rollback for wealthy

    Sun Nov 23, 2008 11:54am EST
    By Randall Mikkelsen

    WASHINGTON (Reuters) - 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.

    - www.reuters.com/article/vcCandidateFeed2/idUSTRE4AM1F120081123

    Letting these tax cuts for the well off simply expire as scheduled is okay with me instead of getting rid of them early. If it wasn't for having to deal with the Bush-caused economic meltdown I would not approve of not getting rid of them early but we have to deal with the conservatives' botching of economic matters in this country.
     
  2. Revmitchell

    Revmitchell
    Expand Collapse
    Well-Known Member

    Joined:
    Feb 18, 2006
    Messages:
    38,378
    Likes Received:
    790
    This was discussed by the Obama Campaign long ago.
     
  3. OldRegular

    OldRegular
    Expand Collapse
    Well-Known Member

    Joined:
    Nov 21, 2004
    Messages:
    22,678
    Likes Received:
    53
    Do people in Arkansas still long for the good ole Clinton days? The current economic problems are caused by the sub prime mortgages, the product of democrats going all the way back to Carter, given a significant boost by Clinton, and covered up by good ole Barney Franks and Chris Dodd.
     
  4. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    I know, OR, apparently in your eyes economic conservatives are pure as the wind driven snow and have never had a bad idea or policy. Even Alan Greenspan admitted that there was a flaw in his conservative economics when he testified before the Congress about the current conservative policy caused economic meltdown.
     
    #4 KenH, Nov 23, 2008
    Last edited: Nov 23, 2008
  5. canadyjd

    canadyjd
    Expand Collapse
    New Member

    Joined:
    Oct 13, 2005
    Messages:
    3,896
    Likes Received:
    0
    Conservative economic policies have not been in place for the Bush adminstration. Bush gave tax cuts, yes, but he did not control spending...he did not control the growth of the government...he did not control the power of the government...he didn't control the borders...he did not give more leeway to the States in spending.

    Bush has done exactly what he promised, his adminstration has been moderate...compromising with democrats (and republicans) on spending and expanding the size and influence of the federal government.

    Blame them all, but don't blame conservative economics because that has never yet been tried fully.

    peace to you:praying:
     
  6. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    Not fully tried? For that I am quite thankful. What has been implemented of it has been bad enough as it is. They had some merit in an agrarian society but not for the 21st century economy.
     
  7. windcatcher

    windcatcher
    Expand Collapse
    New Member

    Joined:
    Apr 28, 2007
    Messages:
    2,764
    Likes Received:
    0
    What you have seen is NOT conservative economics so it is time to stop blaming it as such. If you are thankful that 'conservative economics' have not been implemented..... then you have no idea that what you are thankful for is a curse and not a blessing. Few, if any, people in government in the last 20 years really represent conservative economics. Your friend, Ron Paul knows about it..... but you were too fickle a student to stick with him and learn from him.

    So be it..... if that's your wish.
     
  8. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,927
    Likes Received:
    296
    It would be worse than idiotic to raise taxes in the face of a recession.
     
  9. dragonfly

    dragonfly
    Expand Collapse
    New Member

    Joined:
    Mar 4, 2008
    Messages:
    1,594
    Likes Received:
    0
    Maybe the Obama team understands this, therefore they will probably not roll back the Bush tax cuts.
     
  10. webdog

    webdog
    Expand Collapse
    Active Member

    Joined:
    Mar 31, 2005
    Messages:
    24,691
    Likes Received:
    0
    Where's all of this "change" promised? He has resurrected the Clinton cabinet, and maintaining the Bush tax breaks. When do we plan on seeing this "change" that was hyped?
     
  11. Revmitchell

    Revmitchell
    Expand Collapse
    Well-Known Member

    Joined:
    Feb 18, 2006
    Messages:
    38,378
    Likes Received:
    790

    Change we can actually expect form Obama:

    1. Attempts to expand abortion rights and destroy more children
    2. Attempts to expand Homose*ual rights and destroy family values
    3. Attempts to severely cut Military spending and destroy our military
     
  12. NaasPreacher (C4K)

    NaasPreacher (C4K)
    Expand Collapse
    Administrator
    Administrator

    Joined:
    Oct 21, 2003
    Messages:
    26,806
    Likes Received:
    78

    Maybe its Obama's Irish ancestry (Moneygall, Co Offaly) :) . Ireland is the only country I know of whose solution to the recession is tax hikes.
     
  13. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
    Just wondering out loud...

    If Obama is not going to "raise the taxes on the wealthy" is he still going to be giving a "tax cut to 95% of taxpayers" as he promised?

    With no tax increase for the rich how will he "pay for" his tax cuts that he promised?

    Or will that be delayed too?

    I suppose that Obama could just let the Bush tax cuts expire as scheduled and then claim that because he did not "raise" taxes then he can't give anyone any tax cuts.

    If you voted for Obama, will you be disappointed if this is the case?
     
    #13 targus, Nov 24, 2008
    Last edited by a moderator: Nov 24, 2008
  14. dragonfly

    dragonfly
    Expand Collapse
    New Member

    Joined:
    Mar 4, 2008
    Messages:
    1,594
    Likes Received:
    0
    [snipped by C4K]
    It is also obvious that most Americans disagree with your viewpoints, since they overwhelmingly elected Obama to be the 44th president.
     
    #14 dragonfly, Nov 24, 2008
    Last edited by a moderator: Nov 25, 2008
  15. webdog

    webdog
    Expand Collapse
    Active Member

    Joined:
    Mar 31, 2005
    Messages:
    24,691
    Likes Received:
    0
    If I recall, you had a change of heart after vehemently supporting Obama. I see the media has swayed your thinking back.

    The only "change" I see up to this point is "change" from the Bush administration back to the Clinton administration.

    The majority of Americans have been fleeced, and it seems like you fall right back into that group.
     
  16. chuck2336

    chuck2336
    Expand Collapse
    Member

    Joined:
    Mar 8, 2007
    Messages:
    587
    Likes Received:
    2
    Don't forget his health care promise. Now his web site says that he will not make any changes to health care.

    I lost count how many promises broken does that make?
     
  17. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    I think it will be rolled into a $500-700 billion economic stimulus program. Unfortunately, due to the bumbling of the Bush administration for the past eight years fixing the budget deficit will have to take a back seat to saving the economy.
     
  18. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    That is patently false regardless of how many times Bush defenders say it in this forum.

    And, yes, the need to expand the federal budget deficit next year is clearly President Bush's fault. That is simply undeniable.
     
  19. dragonfly

    dragonfly
    Expand Collapse
    New Member

    Joined:
    Mar 4, 2008
    Messages:
    1,594
    Likes Received:
    0
    I was not "swayed" back. The two areas I disagree with Obama on are abortion and gay rights. Otherwise, I support most of his positions.
     
  20. NaasPreacher (C4K)

    NaasPreacher (C4K)
    Expand Collapse
    Administrator
    Administrator

    Joined:
    Oct 21, 2003
    Messages:
    26,806
    Likes Received:
    78
    Okay, shutting her down - too much personal conflict going on here.
     

Share This Page

Loading...