Obama moves toward GOP on tax cuts

[niceypoo]

For the second day in a row the White House signaled it could bend on extending the Bush-era tax cuts for the wealthiest Americans.

http://thehill.com/homenews/administration/127699-obama-moves-toward-gop-on-tax-cuts?page=2#comments

During the post-election presidential press conference Wednesday, the president was asked if he was willing to negotiate on an extension of the Bush tax cuts for the wealthiest Americans, which was a key talking point for Republicans on the campaign trail. Obama said "absolutely."

Gibbs said that Obama "does not believe" extending those tax cuts is a good idea, but he is "open" to talking to Republicans about it.

...

Lets hope not, I don't recall voting republican in 08.

[DemocratSinceBirth]

1. Gets Good Seat Early

:popcorn:

[emulatorloo]

3. YUM!

[emulatorloo]

2. Wake me up when we get past "speculation" and Speculative headlines.

[flamingdem]

4. Maybe he has reasons to do this, beyond the comphrehension of those who don't read nt

[niceypoo]

6. "During the midterm, Obama repeatedly bashed the GOP for wanting to extend the Bush tax cut"

Republicans dont compromise, they only demand compromise.

[flamingdem]

7. Later the teabaggers won't allow any economic stimulus

They have to do something now and it's a middle ground solution.

[avaistheone1]

14. It's not a middle ground solution

The tax cuts for the wealthy represent a huge share of the country's medium term deficit.

[flamingdem]

16. The time period and amount will be limited nt

[avaistheone1]

19. It's huge.

It's about 25% of the deficit.

[niceypoo]

21. Tax cuts for the rich do not stimulate

http://www.massbudget.org/documentsearch/findDocument?doc_id=763

Federal stimulus can take either of two forms, tax cuts or spending increases. The Congressional Budget Office (CBO) analyzed the stimulative effects of 11 different options, including extending all of the Bush-era tax cuts. The CBO analysis concluded that, among the options considered, extending these cuts would be the least cost-effective way of stimulating the national economy, because such a large share of the benefit goes to high-income households.29 High-income households are likely to save much or most of any tax cuts they receive, creating limited additional demand and thus failing to stimulate the economy.30 In other words, this type of stimulus -- but particularly the tax cuts for high-income households -- would provide the least “bang for the buck,” far less than increasing aid to the unemployed, reducing payroll taxes, or providing continued state fiscal assistance, http://www.cbo.gov/ftpdocs/108xx/doc10803/01-14-Employment.pdf">according to the CBO

GOP tax cutting is a failure and it has bankrupted US. Obama should go on the offensive, he has the CBO reports.

[avaistheone1]

10. Such as?

[Parker CA]

5. Being "open" to talking doesn't mean folding to R's desires. Let's give this some time to play out.

[flamingdem]

8. Exactly, Obama doesn't do stupid things as implied by saying he's caving left and right nt

[RaleighNCDUer]

22. Where's the public option that 70% of the electorate wanted?

Oh, that's right - it's not crucial to HCR. The ONE method of reining in costs is 'not crucial'.

Cave much?

[lamp_shade]

9. Bookmarked. Will check back to see if the knee-jerkers have left the building.

[flamingdem]

18. Have you even looked into the facts on this? Oh I see nt

[Milo_Bloom]

11. Is anyone surprised?

Why else would have postponed the vote?

[GSLevel9]

12. it's a done deal. nt

[BluegrassDem]

13. Maybe he's open so that he can the middle class tax cut permanent

Then once they are permanent, he can then veto any extention of the upper class tax cuts next year or in 2012. The middle class tax cuts won't be held hostage anymore, so he'd be free to veto them the next time around.

[flamingdem]

17. Thanks! That's GOOD INFORMATION not anti-Obama propaganda nt

[HughMoran]

15. Unrec and hide

Post zillion speculating on same topic :boring:

[SunsetDreams]

20. WHat kind of signal was it?

was it a smoke signal? Sign language? Gesture of the hand?
Did he twitch his nose? Was there a different twinkle in his eye?