Obama may delay tax-cut rollback for wealthy

[Mugu]

By Randall Mikkelsen, yahoo.com

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.

http://news.yahoo.com/s/nm/20081123/pl_nm/us_usa_obama_taxes">Complete article

[blogslut]

1. Oy

~face palm~

[wundermaus]

2. The bloom is off the rose

and we are left with the thorns.

[...of J.Temperance]

4. No it's not

Look through the trees and you'll see the forest.

[wundermaus]

18. Don't Pee on My Leg...

And Tell me It's Raining.

[...of J.Temperance]

3. Letting the W tax cuts expire in 2010 is

The smartest thing to do, economically and ESPECIALLY politically, with an eye on the mid-terms.

[SammyWinstonJack]

15. As always, 'with an eye on the mid-terms'.

:shrug:

[Tierra_y_Libertad]

5. Politics-as-usual. After all, the downtrodden rich are facing XMAS shopping.

[Egalitariat]

6. Tax hikes on the wealthy are good for getting elected. Not for growing the economy.

[mymessageboardid]

8. Yes

Because tax cuts for the wealthy have really "trickled down" to the rest of us over the last 8 years...I mean, look how strong the economy is now. :sarcasm: :sarcasm: :sarcasm:

[HughBeaumont]

10. That'd be a witty statement if it weren't a proven hunka bullshit.

http://journals.democraticunderground.com/HughBeaumont/64

[Egalitariat]

17. Well, why is he backing off it? He got a mandate to raise their taxes, and he

clearly wants to grow the economy. So if raising taxes on the rich will grow the economy, why wouldn't he raise them immediately?

[DS1]

7. NOOO

I want to hear my useless overpaid fuck bosses bitching about it EVERY DAY

[ThomWV]

9. Roll that bad bitch back on February 1, 2009 and tell the rich to go fuck themselves

[HughBeaumont]

11. I said before he needs to fuck 2010 and do this NOW.

To hell with the rich and their NEEDS. The rich got what they've wanted for 28 years now. Doing it that way FAILED. It's time for a different way. Emergency situations demand emergency action. And if this ain't an emergency, then I'm Manute Bol.

[OhioChick]

13. Agreed.

Manute Bol? Haven't heard his name used in a very long time. :)

[4lbs]

12. I guess people "forgot" the 3rd debate with McCain where Obama said this very thing.

:shrug:

[DiverDave]

14. So what else is new?

They will pander to the wealthy forever, meanwhile, my taxes keep going up and up...

Even Obama aint gonna screw with the rich...

[kentuck]

16. Roll them back now or never roll them back...

The opportunity may not be there in 2010. They will have no impact whatsoever on job creation. Just as they have had no impact for the last 8 years.