Bush Tax Cuts' Future Up To Obama

[laughingliberal]

WASHINGTON — Will Congress extend the Bush tax cuts into 2011 in the weeks after Tuesday's election or let the automatic increase start cutting into most people's paychecks early next year?

It's really pretty much up to President Barack Obama.

Despite the punishment his fellow Democrats are expected to take from voters, Obama has shown no sign of retreating from his insistence that families and small businesses with incomes above $250,000 return to higher, Bill Clinton-era tax levels starting Jan. 1.

But Obama also has dodged the question whether he would veto a bill that extends the tax cuts for everyone.

http://www.huffingtonpost.com/2010/11/01/bush-tax-cuts-future-up-t_n_776780.html

My guess? The rich skate, again.

[bluestateguy]

1. This does not have to be rocket science

Just pass two bills: one that extends taxcuts for the regular people, and a second bill that extends taxcuts for the rich.

The first bill will pass and be signed. The second bill may well pass too, but then be vetoed by Obama (and sustained in Congress).

And that would be the end of it.

[laughingliberal]

2. If Congress will do it & if he'll veto it, that'll work. nm

[ejpoeta]

3. the republicans will want them tied together for that very reason.

they know that individually giving tax cuts to the rich will not make people (except the rich) happy. but if you tie them together then they can ignore the rich part and just go around touting the middle class tax cuts. and if they are tied together obama won't be able to veto the one. they were pretty smart tying them together when they did it in the first place. it makes it harder for dems to extend the one without the other.

[Lasher]

5. More than that, Republicans will block any bill that does not include every single Bush tax cut.

Eager to compromise (AKA fold like a cheap lawn chair), Obama and Congressional Democrats will go along with - nay, enthusiastically support - a bill to extend all Bush tax cuts for two more years.

[ejpoeta]

7. i don't understand it either. tax cuts won't help the deficit get smaller.

they should be encouraging that we all have to help lower the deficit. that doesn't sell well though does it.

[laughingliberal]

9. The rich will, likely, get to keep their tax cut while we hear how SS benefits must be cut...

because of the deficit. :(

[ejpoeta]

10. and who will they blame when we have no social programs left!!

that's the most maddening thing. the people bitching the loudest now about the deficit and welfare programs are the ones that will bitch the loudest when they are gone.

[laughingliberal]

11. Obama will take the fall for it. And SS and Medicare are not welfare programs.

Everyone who won't benefit from this (which is most of us) will be mad and Obama will get the blame.

[quaker bill]

4. In the post election session

a good number of blue dogs will be packing up their offices and looking for another job. They will have nothing to lose by hosing the rich. A little bit of party unity will get this done, and will serve as a parting shot from those departing....

[Lasher]

8. They have nothing to lose by giving the rich a blowjob either.

And that looks good on the resume when looking for a lucrative job as a corporate lobbyist or BOD member. Maybe a token 'liberal' at a stink tank that pretends to be centrist.

[Incognitus Czar]

6. Obama ain't going to let his pal Bush down!

If Obama protected Bush from prosecution and continued his programs, what makes you think he's going to cut his taxes?

Deep down, they're BFFs for realz.

[VMI Dem]

12. He must compromise with the Republicans.

:hi:

[33Greeper]

13. No compromise with the Republicans

There will be no agreement with Republicans in control of the House. Therefore, let all the Bush Era Tax Cuts expire. No temporary extensions should be passed. The middle class tax cut legislation needs to be de-coupled from the tax cuts for the wealthy. The working poor will not be affected. Democrats in Congress and the President should not compromize on this at all. If we all go back to the Clinton era tax structure, so be it. The filthy rich should pay their fair share and so should we all.

[Better Believe It]

14. What if President Obama prefers letting both tax cuts expire in order to reduce the deficit?

He sure won't say that but that would be the outcome if it should die in Congress.

We'll find out soon.

If the realistic options are only to extend all the cuts for a year or two or let them all expire he might favor the latter.

And that would clearly prove to the deficit hawks that he's serious about cutting the budget by increasing taxes in addition to cutting spending for social programs.