Axelrod Says Obama Insists on Middle-Class Tax Cuts

[mike r]

Source: Bloomberg

President Barack Obama wants legislation from Congress that extends middle-income tax cuts and would reject Republican efforts to extend tax breaks for the wealthy, David Axelrod, a White House senior adviser, said.

“Our position is clear: We believe that we should get a clean bill that extends the middle-class tax cuts, and that’s it.” Axelrod said in an interview on Bloomberg Television. “I don’t think the president will support anything that doesn’t do that.”

He stopped short of saying the president would veto a bill that included keeping current rates for wealthier taxpayers.

The president will outline his stance in a speech this afternoon in Ohio. His insistence on letting the top tax rates expire at the end of this year sets up an election-year confrontation with Republicans, who are seeking to take control of the House and Senate with campaigns focused on the economy and the federal budget deficit.

Read more: http://www.bloomberg.com/news/2010-09-08/axelrod-says-obama-insists-on-middle-class-tax-cuts.html

[Roland99]

1. 30 years of "trickle down" has been an abject failure but the GOP keeps beating that dead horse.

[no_hypocrisy]

2. Here's the problem as I see it.

The democrats introduce a bill that extends middle class tax cuts. Good.

A republican moves to amend the bill to offer the tax cuts also to the "rich" and it attaches to the original bill. And you can't vote for one without the other.

That's how the tax cut for the rich will be extended.

[Statistical]

3. How do Republicans get 60 votes required to aprove amendment?

IF amendment isn't approved then it isn't attached.

[no_hypocrisy]

6. Blue dogs aren't reliable. They're capable of voting for the amendment.

[nyy1998]

8. That still doesn't add up to 60

[no_hypocrisy]

9. Hope you're right.

[Moostache]

5. Then the lie about worrying about "the deficit" can be exposed for November...

Think "win-win" instead of buying the Re-thug meme that would tie the two tax rates together...the numbers do not lie, we cannot tax-cut our way to a balanced budget or deficit reduction...it will require tax INCREASES and spending DECREASES. I am willing to give up ALL of the Bush tax cuts in order to spare Social Security and Medicare from the Cat Food Commission's ax...this is an opportunity to out wit the thugs and should be pounced on...

[shotten99]

4. Not bad. Will take the wind out of some GOP bullshit ads.

[bvar22]

7. I just congratulated Obama in another thread for Taking a Stand,

but THIS is not good news:

"He stopped short of saying the president would veto a bill that included keeping current rates for wealthier taxpayers."

I'll wait and see what HE says this afternoon, but without the VETO PROMISE, there is plenty of weasel room.

Way past time to LEAD, Mr President.


"If we don't fight hard enough for the things we stand for,
at some point we have to recognize that we don't really stand for them."
--- Paul Wellstone

[depakid]

11. Should be interesting to see how this plays out

If ever there was a time to show some principled backbone, it would be here.

[Iowa]

15. Exactly... More weasel words. He'll cave; you can take that to the bank.

[defendandprotect]

10. That would be a wise move . . . actually putting money in hands of citizens rather than corps....!!

[zogofzorkon]

12. A lot of the "middle class" already got a tax cut. No income, no tax.

[bvar22]

13. Middle Class Tax Breaks are GOOD, but

.... not the best stimulus.
Most of the people who really NEED the Money, and who will spend it immediately pay very little or no income taxes (and rightly so).
Put the money directly in THEIR hands, and you will see "stimulus."

The other problem is Structual.
Money spent at WalMart or any other Big Box does NOT circulate in the local economy providing the Stimulus Effect.
It is sent straight back to Corporate HQ (or out of the country), and into the pockets of the Ownership Class in one quick step.
FDR didn't have THAT problem to deal with.

Before this country can get back to a REAL Middle Class and Local Economies, the Big Boxes MUST be broken up.

Teddy Roosevelt, your hungry nation calls out for you!

[Lightning Count]

14. No more Best Buy?

Radioshack then?