Obama Warns the Rich that the Fiscal Cliff is Just a Down Payment on Paying Their Fair Share

[babylonsister]

http://www.politicususa.com/obama-warns-rich-fiscal-cliff-payment-paying-fair-share.html


Obama Warns the Rich that the Fiscal Cliff is Just a Down Payment on Paying Their Fair Share

By: Jason Easley
Dec. 31st, 2012

snip//

The president said that if Republicans think that he will only reduce the deficit with spending cuts after today, “they’ve got another thing coming.” Obama said as long as he is president the deficit will be reduced through shared sacrifice. (Obama sent the message that the rich and corporations aren’t off the hook after today.)

The president closed by telling people to keep the pressure on, and wished everyone a Happy New Year.

It looks like the president is set to get exactly what he wanted if this deal goes through. Actually, he would be getting more than many expected. If the president gets the extension of the tuition tax credit, the clean energy tax credit, an extension of unemployment benefits, and a tax hike on the top two percent, this will be a huge win for him.

If he had to bump the income threshold up to $400,000 to get all of this, it will be well worth it.

Remember that Republicans have sworn for years that they would never raise taxes on the wealthy. They based their entire run for the presidency in 2012 on a vow to not raise taxes on anyone. All of this will have gone up in smoke, plus they will have given the president a laundry of things that he wants.

I still have doubts about whether or not any deal that is crafted by the Senate and the White House will pass the House, but we’ll probably have our answer to that later tonight.

It is beginning to look like this could turn out to be one very Happy New Year for President Barack Obama.

[jenmito]

1. K&R! n/t

[Cha]

2. Thanks for this analysis from Jason Easley,

babylonsistah! Fingers Crossed!

[LiberalFighter]

3. I do hope Republicans suffer from this immensely.