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As I'm sure you're aware, today Obama called for a one-year extension of the Bush tax cuts for those making less than $250,000 a year. He has called for this sort of thing before, so this was no surprise.
But - he used to be for making the Bush tax cuts permanent for anyone making less than $250,000 a year. Now he presumably wants the cuts to expire after one year (though he's also talked about temporary extensions before).
And he used to say it was a bad idea to increase taxes on anyone during a recession (yes, we are techincally out of the recession now, but he was obviously using the term "recession" to simply mean any economic downturn, and we are definitely still in an economic downturn; furthermore, I believe this was from August 2009 when we were already technically out of the recession - though the 3rd quarter wouldn't have been over yet and 3rd quarter GDP obviously wouldn't have been reported yet so it wasn't "official" that we were out of it):
So....here we have multiple examples of Obama simply not being able to make up his mind. He can't make up his mind on whether taxes should be raised during an economic downturn/recession or on whether taxes should be raised on the middle class at some point.
No surprise given that he's been on all sides of issue after issue after issue.
Interesting that the Obama lovers are staying away from this thread.
What is it -
Does Obama have at least a rudimentary understanding of economics and understand that raising taxes is a bad idea during an economic downturn? He did in 2009.
Or is he more interested in class warfare? This would be logical given that his goal is to pit different groups of Americans against one another in hopes of getting re-elected because of anger towards certain groups. In this case, that group would be "evil rich folks" (including small business owners).
Does Obama plan to make the middle class tax cuts permanent like he has before? Or does he want to raise middle class taxes after one year?
Interesting that the Obama lovers are staying away from this thread.
What is it -
Does Obama have at least a rudimentary understanding of economics and understand that raising taxes is a bad idea during an economic downturn? He did in 2009.
Or is he more interested in class warfare? This would be logical given that his goal is to pit different groups of Americans against one another in hopes of getting re-elected because of anger towards certain groups. In this case, that group would be "evil rich folks" (including small business owners).
Does Obama plan to make the middle class tax cuts permanent like he has before? Or does he want to raise middle class taxes after one year?
Flip flopping nonsense aside, the only hope in hell we have of raising revenues to reduce the deficits (and we need a balanced approach that includes new revenues and cuts) is through allowing some of the Bush cuts to expire. Whether 250K is the right number or 1 million as some have proposed or some combo thereof including tax code reform, it is smart to use this opportunity for COMPROMISE and seriously dealing with the issues instead of political pandering. Since Republicans have pledged not to compromise, I see no way that is going to happen. So let them expire is the only approach that appears to be on the table.
Flip flopping nonsense aside, the only hope in hell we have of raising revenues to reduce the deficits (and we need a balanced approach that includes new revenues and cuts) is through allowing some of the Bush cuts to expire. Whether 250K is the right number or 1 million as some have proposed or some combo thereof including tax code reform, it is smart to use this opportunity for COMPROMISE and seriously dealing with the issues instead of political pandering. Since Republicans have pledged not to compromise, I see no way that is going to happen. So let them expire is the only approach that appears to be on the table.
Seriously dealing with the debt issue? What makes you think that Obama has seriously dealt with the nation's debt issue at any point in his presidency?
This is an election year gimmick that won't even knock out 10% of the annual deficit. I agree with Candidate Obama that thinks we shouldn't raise taxes on anyone during a recession. Let the economy heal a bit more.
Seriously dealing with the debt issue? What makes you think that Obama has seriously dealt with the nation's debt issue at any point in his presidency?
This is an election year gimmick that won't even knock out 10% of the annual deficit. I agree with Candidate Obama that thinks we shouldn't raise taxes on anyone during a recession. Let the economy heal a bit more.
There is no reason that expiration of the Bush cuts and tax code reform could not be phased in over time. Oh wait, there is one: the Republicans promised Norquist they would not support any tax increases, anytime, for any reason.
There is no reason that expiration of the Bush cuts and tax code reform could not be phased in over time. Oh wait, there is one: the Republicans promised Norquist they would not support any tax increases, anytime, for any reason.
I do think Republicans are on the wrong side with 'no tax increases of any kind on anyone of any size at any point in time.'
Now why is Obama being a hypocrite and do you agree with 2008 Obama or do you agree with 2012 Obama?
I do think Republicans are on the wrong side with 'no tax increases of any kind on anyone of any size at any point in time.'
Now why is Obama being a hypocrite and do you agree with 2008 Obama or do you agree with 2012 Obama?
Economic conditions today are very, very much improved from Nov of 2008, especially for the wealthy. The stock market has doubled, corporate profits have been at record levels for a couple years now, CEO pay is right back where it was. So no hypocrisy (wrong word anyway).
As I'm sure you're aware, today Obama called for a one-year extension of the Bush tax cuts for those making less than $250,000 a year. He has called for this sort of thing before, so this was no surprise.
But - he used to be for making the Bush tax cuts permanent for anyone making less than $250,000 a year. Now he presumably wants the cuts to expire after one year (though he's also talked about temporary extensions before).
And he used to say it was a bad idea to increase taxes on anyone during a recession (yes, we are techincally out of the recession now, but he was obviously using the term "recession" to simply mean any economic downturn, and we are definitely still in an economic downturn; furthermore, I believe this was from August 2009 when we were already technically out of the recession - though the 3rd quarter wouldn't have been over yet and 3rd quarter GDP obviously wouldn't have been reported yet so it wasn't "official" that we were out of it):
So....here we have multiple examples of Obama simply not being able to make up his mind. He can't make up his mind on whether taxes should be raised during an economic downturn/recession or on whether taxes should be raised on the middle class at some point.
No surprise given that he's been on all sides of issue after issue after issue.
Here is the tax deal. Clearly Obama wanted them to be permanent ... errr.... well ...ahhhhy
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