Will President Obama and Congressional Democrats allow the Bush tax cuts to expire in 2010?

[DailyGrind51]

Both Candidate and President Obama stated that he would allow the Bush tax cuts expire for those making over $250,000 per year. Will this, like the public option, be just one more unfulfilled promise to Progressives?

"Obama will not immediately repeal Bush tax cuts.

The New York Times reports today that President Obama plans to “set a goal this week to cut the annual deficit at least in half by the end of his term,” in large part through withdrawing from Iraq and raising taxes on the wealthy. Obama, however, will not immediately repeal the Bush tax cuts, instead letting them expire on their own in 2010:

Mr. Obama will also call for letting the Bush tax cuts on income, dividends and capital gains lapse after 2010 for individuals who make more than $250,000 a year. But while the top rate for income would rise to 39.6 percent, the top rate for capital gains and dividends would be 20 percent.

As a candidate, Mr. Obama called for immediately repealing those tax cuts. He decided instead to keep them in place through 2010, as scheduled, reflecting the widespread belief that raising taxes further depresses economic activity..."

http://thinkprogress.org/2009/02/22/obama-bush-tax-cuts/