Obama may put Bush tax cuts on table

[alp227]

Many Democrats and liberal activists are already expressing anger that President Obama has apparently agreed to a deal to raise the debt limit with no guarantee that taxes would be raised.

But a White House official points out that the president has not given up on a fight over tax revenues.

For starters, the official said, the Bush tax cuts, set to expire at the end of 2012, will serve as a sort of “trigger” to guarantee a major revenue increase. After all, even if Obama loses his 2012 reelection campaign, he would still be president until Jan. 20, 2013, and could veto any legislation seeking to extend those cuts.

full: http://www.washingtonpost.com/blogs/44/post/obama-may-put-bush-tax-cuts-may-be-on-table/2011/07/31/gIQA94XllI_blog.html

[Big Blue Marble]

1. In that case, his veto would be good for

a few weeks. If Republican held both houses and the Whitehouse in January of 13, wouldn't they just resubmit the legislation
to reinstate them immediately?

[phleshdef]

9. I could be incorrect, but I think they would have to pass new cuts for 2014 and beyond.

2013, at the least, would be a return to the Clinton rates.

Of course, I guess they could pass some sort of retroactive tax credit.

[RUMMYisFROSTED]

2. Chance of happening= 5% or less.

[TheDebbieDee]

3. Counting down the number of days til President O gives this back

to the repukes!

[boxman15]

4. But, Obama is a corporatist sell-out!

How can he do that?

[villager]

6. The more pertinent question is: *When* will he do that?

n/t

[jenmito]

11. He'll just let them expire at the end of '12. n/t

[midnight]

5. Are raising taxes the same thing as reversing tax cuts. I would love to see a chart comparing and

contrasting the tax cuts the middle class and poor get vs the rich.... I'm sure without even knowing the discrepancies in the tax codes that the middle class and poor pay more than the wealthy....

[Countdown_3_2_1]

7. Bull. We had the majority for two years and couldn't increase taxes.

President Obama SIGNED the B*** tax cuts for the wealthy into law...and it was passed by a Democratic Senate and House.

I don't believe this for a minute.

[NC_Nurse]

8. May? oh, that's reassuring. BFD.

[jenmito]

10. Jonathan Alter just said the same thing-he nearly used the words in your last paragraph verbatim. nt

[indepat]

12. Geez, the Bush tax cuts have expires: it's the Obama tax cuts that are set to expire at the end

of 2012. I've blamed junior for every thing possible since the December 2000 massacre of the Constitution by the felonious five, but I'll be damned if I'm going to blame junior for Obama's tax cuts. :patriot:

[KittysRfuzzy]

13. He needs to remain steadfast

[Zenlitened]

14. Odd. I thought Pres. Obama already promised flat-out he would let them expire.

How can his promise be "re-gifted" now as part of the debt ceiling dispute?

:shrug: