Adviser Says Obama Is Committed to Raising Taxes At Year’s End
Posted by Jim Hoft on Sunday, July 8, 2012, 12:38 PM
In August 2009, President Barack Obama was very clear that we shouldn’t raise taxes during a recession.
But that was back in 2009.
Barack Obama is now committed to ending the Bush tax cuts and raising taxes on millions of Americans.
FOX 8 reported:
A top adviser for President Barack Obama’s re-election campaign said Sunday the president was entirely dedicated to ending the so-called Bush tax cuts for the wealthy at the end of this year.
“He is 100% committed to it,” Robert Gibbs said on CNN’s “State of the Union.”
Obama signed a bill in 2010 to extend the Bush-era tax cuts, citing the need for economic stimulus at the time, but has since vowed he would not permit another extension.
The tax breaks are set to expire in what’s known as the “fiscal cliff,” a package of spending cuts and removal of tax breaks that will take place on January 1 if Congress fails to act. In total, $7 trillion could be taken out from the economy.
Tax breaks that would end include the Bush tax cuts, middle class protection from the Alternative Minimum Tax, and more than 50 “temporary” tax breaks for individuals and businesses that have been on the books for years.
For its part, the White House has proposed raising taxes on the very wealthy as a way to help make a dent in the federal deficit.
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SpideyTerry commented:
Ever notice how everything this joker wants to do that the public would take issue with wouldn’t be scheduled to begin until AFTER a hypothetical second term is secured?
shibumi commented:
And by “very wealthy” he means anyone who is employed, right?
illiniguy commented:
Let’s see…I am confused…..Taxaggedon occurs when tax revenue increases….expiration of 2001 and 2003 tax cuts….and spending decreases by half trillion…..hmmmm…isn’t that what the Dumbs say we need? Increase taxes followed by tepid spending cuts and the rePUBICans say cut spending before we agree to increase revenue….all the while out of control spending is adding to the base line so that next year IF there is a budget, holding at 2011 levels is actually an increase over 2008 by 33%….who is being played here…TEA Party=TAXED ENOUGH ALREADY
illiniguy commented:
I think I will file a lawsuit against Federal Govt for violating the Americans with Disabilities Act….I apparently am math challenged and dont understand their numbers.
Babsy commented:
The way to prosperity is by taxation and regulation. Can you not imagine the turmoil that would be created by allowing people to keep their own money and spending it the way they want? What would the ruling Elites do with themselves? Have mercy! Raise taxes and save them from their angst! Oh, THE HUMANITY!!!!
Lefty commented:
Had GW Bush not cut taxes for the wealthy…just think how much less the deficit would be.
When we vote for Democrat X or Republican Y — We get Zapped!
west1890 commented:
My bet is that every tax bracket will see an increase in taxes.Somebody has to pay for all the SS disability, food stamps, unemployment checks, free cellphones and all the money Obummer is literally giving away to all his buddies and partners in crime. Vote in November and make sure everyone you know who is anti-Obama gets out to vote. Drive them to the polls if necessary. If you sit home on election day then you are part of the problem. The voter fraud on behalf of Obama is going to be staggering. The only way we can turn the tide is to vote against Obama by a staggering majority. It’s not a game anymore. It matters. Your financial and very physical survival and that of your children and grandchildren depends on beating Obama and getting him and his cohorts out of the White House and Congress.
snewb commented:
That will be the October surprise. Since the Obamacare penalty
doesn’t hit till 2014-2015 he’ll strike an 11th hour deal with RINO Boehner to extend Bush tax cuts for 2 more years then really sock it to us 2015-2016.
blahblahblah commented:
This will be an interesting situation…
After November, the President will know he is out of office come mid-January – along with a whole bunch of Democrats who will have just been kicked out of office. Meanwhile, these taxes need to be re-upped prior to Jan 1st.
So during a lame-duck secession we are going to need to pass an extension thru the House (extremely likely) the Senate (doubtful since Reid will still control it temporarily) and have a President determined to raise taxes sign off on them (which the article indicates he will not)
If it does get taken care of prior to the election though, its going to be a huge distraction away from the economy which the Democrats will try to build support off of – we will probably see the return of “occupy” (which will be stuffed with union goons even heavier this time) with the Democrats running around saying “see, Republicans want lower taxes on the Rich”
We are backed into a corner here. Bringing it up prior probably isnt a great idea, but then we are relying on Democrats and an ousted President to do the right thing and at least give a temporary couple-month extension against what they want to do. Plus, not allowing an extension will ensure the economy gets worse – which, lets face it, they would want in the face of Romney and Republicans taking office.
I think the best course is to wait till the lame-duck and hope the Democrats want to save face by passing an extension just so they are not labeled as the sour-loser party who jacked up everyone’s taxes as they were leaving office. Then again, they generally don’t mind doing the wrong thing then lie and spin the narrative later…
gastorgrab commented:
He’ll wait til just after the election, no matter what the results are.
blahblahblah commented:
@Lefty commented:
“Had GW Bush not cut taxes for the wealthy…just think how much less the deficit would be.”
Ya know, other then that minor situation where almost all business stopped because of that little problem we now refer to as 9/11, revenue went UP after the Bush Tax Cuts. Oh, and it brought about one of the greatest economic situations the country has seen in a long time.
If we were in an economy similar to the one in 2003-2008, we would all have smiles on our faces and Obama might actually get reelected. Instead, we are in a non-recovery where we have Democrats bragging about making up only about 75% of the Jobs lost under Obama’s nearly 4 years in office. Whoo-hoo! Another 2-3 years and maybe we get back to where we were before he took over!!! Now that’s recovery…
Rock90210 commented:
Yes Lefty just as blah blah said above. The bush tax cuts actually raised revenue in the face of 9/11 and did not contribute to the deficit. What did was the subprime mortgage meltdown which was solely fueled by Clinton and Barney Frank.
Flintstone F. commented:
Is he moving to France or something? His power to do any more damage here ends in November.
Lefty commented:
There will be no actual recovery in this country, until we…
1) Raise tarifs on cheap imports.
2) Rebuild the American manufacturing base.
3) Find less reasons to make (really expensive) wars.
4) Transition welfare into workfare. (Not in ‘every’ case/tho best if we could)
5) Balance the budget.
6) Raise taxes back to 1950′s levels. (America was really cranking then!)
7) Re-institute the “Glass-Steagle” (sp?) act.
8) Bring to trial — those responsible for ‘crashing’ this economy.
Ripped commented:
If 0bama doesn’t Romney will, there is no difference and they are both owned by the same people. Vote all you want the flight plan doesn’t change.
owl commented:
About taxes………………….I am listening to a group on FOX discuss Romney letting Obama put him on the defensive in several areas.
I agree.
Enough. Get off your azz and fight this LOUDLY. Scream it. Pick up some of the clubs that Obama left lying around and beat the crap out of him.
Start with the TAX issue with Obamacare. The WSJ guy just said what I did when that Romney idiot came out and said they agreed with Obama that it was not a tax. As Rush said, who cares at this point? WSJ guy said Romney was so scared of the mandate he passed, he was running scared. Yep. Yep. Yep.
Romney has to come out and OWN his mistake. Also, why isn’t he hitting on all those sealed records. Why not ask about releasing all this crap at every speech???????????
Romney needs to listen to more Rush and Trump and stop with the nice guy routine. Hit Obama now. Now. Hard. Loudly. Ugly. Otherwise, I might call him McCainlite.
I am sitting and watching that lying Obama gain ground. That sneak signs another of his orders every day and hides it. Romney had him on the run and all because he refused to grab that TAX club with both hands, threw it away. Where is he???????
If you do not control the agenda, it goes to Obama’s band of Professional Poop Scoopers.
SeniorD commented:
The Bible teaches us to “Render unto Ceasar what is Ceasar’s”. Since His Incompetence has screwed the economy, I’ll render unto him 10% of what I earn.
10% of 0 is still 0!
bg commented:
++
why is:
Taliban Executes Accused Adulteress in Front
of Cheering Crowd in Afghanistan (Video)
Posted by Jim Hoft on Sunday, July 8, 2012, 9:13 AM
PAGE NOT FOUND??
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bg commented:
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re: #19 July 8, 2012 at 2:52 pm bg
never mind, it’s back..
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