Obama: Pay for jobs bill with taxes on the rich

[Scurrilous]

<snip>

"President Obama is again going after tax breaks for oil companies and the owners of corporate jets -- this time to help pay for his jobs bill.

Eliminating provisions that help large corporations and upper-income Americans -- which was part of the summer debate over raising the debt ceiling -- are to be included as part of the financing plan for the $447 billion jobs plan Obama proposed last week, according to White House budget director Jacob Lew.

The so called "pay-fors" are likely to revive the debate over whether higher taxes threaten job growth, as Republicans say, or whether wealthier Americans should contribute more to help create jobs and reduce the natioal debt, as Obama says."

<snip>

"In speeches promoting the plan, Obama and aides have cast the issue as a choice between jobs and tax breaks for the wealthiest Americans.

"Do we keep tax loopholes for oil companies, or do we put teachers back to work?," Obama said. "Should we keep tax breaks for millionaires and billionaires -- or should we invest in education and technology and infrastructure, all the things that are going to help us out-innovate and out-educate and out-build other countries in the future?"

http://content.usatoday.com/communities/theoval/post/2011/09/obama-wants-to-pay-for-jobs-bill-by-eliminating-tax-breaks/1

[KansDem]

1. No new taxes on the rich!

Just reinstate the old ones...

[tblue]

2. Stay with it, Mr. President!!!

Do not back down! For heaven's sake, please DO NOT BACK DOWN!

[Inuca]

3. There is a BIG difference between

now and a month ago or so (debt debate). The Rs are no longer holding him hostage over a set deadline. Important as this is, and important to be done fast, it's still not like the sword the dangled over everybody in the debt debate.

[tblue]

5. Well, he shouldn't have taken their bait then either.

I wish he was just a more partisan negotiator, truth be told. I wish he was as committed to Democratic principles as he is to just getting something passed.

[INdemo]

8. Yes..and I agree but where was this Obama a year ago or 2 years ago?

[Inuca]

10. I personally think he did

many good things a year and two years ago. But OTOH he IS learning and adjusting, as well he should. I also believe that his natural approach to divisive issues is to try to find the common ground and bring all parts there through reasoning and cajoling. I also happen to agree, and do not consider all those that adopt a different position automatically evil. But the current opposition has turned from a rational and at times respectable one into a bunch of know-nothings extremists and demagogues, plus a few others that are just cowards that may know something but lack the cojones to do anything about it. I saw this morning an OP about an article that Chuck Hagel wrote recently. He is a perfect example of the kind of R that barely exists any longer, at least not in Congress, smart, knowledgeable, rational, and not afraid to compromise on important stuff. But I digress :-).... my point is that I think Obama is trying to adjust to the new political reality where you cannot play fair with the other party. And in my own small way, I am trying to do the same. So this is my rather long winded answer to your short and fair question :-).

[dennis4868]

4. Obama has changed the debate...

Repubs are on their heels...at least i think that's what is happening :-)

[dennis4868]

6. wait a minute...

DUers told me he was going to pay for it by cutting medicare and SS...oh yeah...those were just DUers...not reality :-)

[mtnsnake]

7. I guess he can't make up his mind

On one hand, he talks about going after tax breaks for oil companies to help pay for his jobs bill.

On the other hand, he sides with the biggest polluters in this country, which has Al Gore and every environmentalist organization in this country up in arms.

http://www.politico.com/news/stories/0911/62860.html

http://www.lcv.org/media/blog/obama-caves-to-big-polluters.html

[Inuca]

11. I do not like the EPA thing at all, but

the two have nothing to do one with the other, it's just a way to say something negative, sorry.

[Cali_Democrat]

9. Let me take a wild guess at how this will play out

Obama will also propose spending cuts to offset the cost of the jobs proposal. See here: http://uk.reuters.com/article/2011/09/12/usa-jobs-budget-idUKWNA830620110912

The GOP will say no to any kind of tax increases, but they will agree to spending cuts.

No jobs bill will go through and we'll still be gifted with the spending cuts and still no tax increases.

Call it a hunch