How the hell is Obama going to end the bush tax cuts for the rich but not for the middle class?

[cali]

Think that has a chance of getting through Congress? I don't see how, and that's what he says he wants. I just don't see how that works.

[sasha031]

1. they expire on their own

they were extended for 2year.

[leftstreet]

5. Apparently quite often n/t

[Warren Stupidity]

6. That worked out well last time.

Then again they expired just before an election, unlike the next time.... oh wait.

[cali]

8. yes, but they ALL expire. and the president said he won't let the

tax cuts on the middle class expire. plus, he can't stop Congress from extending them. Oh, he can veto any bill, but then he'd be raising taxes on the middle class, something he said he won't let happen.

[phleshdef]

2. He probably can't with this Congress. Thats why they got extended to begin with.

And unemployment is still hovering around 9%. If it were 5 o 6%, then I'd say just let them all expire. But because unemployment was/is so high, the risk of what could happen to middle class folk and unemployed folk was way larger than the benefits of taxing the wealthy right now, hence the reason for the compromise back in December.

[MadHound]

3. Again, I think that whole package of tax cuts needs to be ended

We'll all go back to those dreadful days of taxation, the *gasp* Clinton years:eyes:

I'm willing to pay a few hundred more in taxes as long as the wealthy elite are paying a few million more.

[Cali_Democrat]

7. +1000

I'm willing to sacrifice as well.

[dennis4868]

23. i am all for sacrificing....

but I cannot afford to right now....I need those middle class tax cuts badly!

[badtoworse]

9. I'm OK with that too

[cali]

11. so do I, but Obama doesn't think that.

[MadHound]

16. Then once again, we're going to see the spectacle of Obama capitulating to the 'Pugs

And extending the tax cuts for the rich in order to retain the tax cuts for the rest of us. We need to stop playing this hostage game, we can no longer afford it.

[Lasher]

19. Me too but there's the rub.

Obama has a very high priority, much too high, on keeping the middle class tax cuts. And frankly I don't think he really wants the upper class cuts to end either.

[phleshdef]

12. I agree that is ultimately what should happen. But it shouldn't happen while the economy is fragile.

If we hit 6% unemployment and start seeing consistent, meaningful leaps in GDP, a stemming of foreclosures, etc. then the middle class should be able to handle a halt to further unemployment extensions and a tax increase. The rich could handle a tax increase fine at anytime, but for a middle class thats experienced the current level for more than a decade and hasn't had much growth of its own, then its hard to make a case for putting that same middle class through such a significant financial shift while the economy is still shaky.

[MadHound]

17. I doubt that having a ten spot a week taken out of people's checks is going to make or breack

The recovery. But the longer we keep growing this debt, the more problems it causes. If the price for having the rich pay their fair share is for us to do the same, I'm all for it.

[phleshdef]

20. Its a lot more than just a "10 spot" a week.

That would only be 500 bucks a year. I'm middle class. I won't divulge a bunch of personal details here, but lets say I make around 55-60000 a year (and I live in a decent part of a city where the cost of living isn't the cheapest). My total taxes would have went up around 2000 for the year. I probably would be all right personally, but I know a lot of people who would get seriously stung by that this year.

[MadHound]

26. Funny, my income is in the same range,

And yeah, an additional five-six hundred a year is about the right amount I would have paid extra. Our personal tax details probably do differ somewhat, but I doubt that it is fifteen hundred dollars worth:shrug:

[sasha031]

18. me too, I say let them expire

Gladly pay more until we get our house in order.

[indepat]

29. Ending all tax cuts would have been much better than extending all tax cuts (working little people

would have been much better off paying some more taxes as compared to what they are now being forced to give up) and the wealthy got to keep their tax cuts and will be giving up nothing). My thought is the entire dialog about ending the tax cuts for the wealthy while continuing the tax cuts for others was nothing but soothing populist rhetoric/gibberish to be pleasing to the masses whereas it was known from day-one ending tax cuts just for the wealthy was never going to happen. :patriot:

[Warren Stupidity]

4. it doesn't get through congress.

At least not this congress. So either we have another thrilling compromise: cut medicare, medicaid and social security while retaining the bush tax cuts, or nothing happens until 2013.

[cali]

14. I just read an article that said the President's plan is

75% cuts to 25% taxes. That's not encouraging.

[ixion]

10. It doesn't work, but that's never stopped a political 'message'

[JoePhilly]

13. He lets them all expire, and he suffers no political fall out because

he can't run for a 3rd term.

This time he had two promises and he could not keep both.

Promise 1) End the tax cuts for the rich.
Promise 2) Not raise taxes on the 95% making under 250k.

The Democratic congress punted, and left him with no ability to keep both promises at the same time.

I suspect if he kept promise #1, and broke promise #2, DU members would be crucifying him for breaking promise #2 while claiming that it proves that he hates the middle class.

[ProSense]

15. Here's one

way

[aSpeckofDust]

21. That is a very unrealistic scenario and you know it.

[ProSense]

27. I "know it"? Here's what I know

It's very realistic, but you can't accept it because you want to pretend there is no way it could happen.

How is that for reading your mind?

[aSpeckofDust]

28. Sorry, I don't hate or like Obama. He's our President, but I follow policy.

So far I've seen a lot of give, and very little take, even when the Democratic Party did have control(I use that term loosely) of all branches of government.

I say it is unlikely due to his past performance. Can people change? Sure, but it's not likely(As your linked post states).

[Keith Bee]

22. That's why it's called.......

.....politics.

[kentuck]

24. These "taxcuts" were the only pay raises many folks received in the last ten years.

Because their employers gave them very few raises. Wages were mostly stagnant over that period of time.

Obama is hoping that the unemployment rate is low enough by election day that it will not be the issue to hang up the "middle class taxcuts". This will be a hit on many of those employees that the employers treated so shabbily in the last ten years, there is no doubt. They will have to figure out a way to compensate these people as much as possible.

Obama doesn't have to end the Bush taxcuts - they will end automatically at the end of 2012. That would be before the new Congress and Senate could vote on them. The debate would be very similar to last year's.

If the Repub Congress attempted to extend the taxcuts, Obama could veto them if they got thru the Senate. If the Repubs would not agree to taxcuts for the middle-class, the taxcuts would die. Of course, the Repubs refuse to give taxcuts to anyone if the wealthy do not get their share. End of story.

[Zorra]

25. He's not going to.

Why bother explaining anymore?