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Why Is Obama Caving on Taxes?
New York Magazine, by Jonathan Chait

Original Article

Posted By:abuela10, 12/31/2012 8:51:51 AM

The discouraging thing about the “fiscal cliff” negotiations is not that they have gone into the eleventh hour, or that they may go into the new year, or even that they won’t resolve the long-term budget deficit. It’s that President Obama has retreated on his hard line on taxes. In the months before the election, and in the weeks after his victory, Obama had a clear position: The Bush tax cuts for income over $250,000 were ending. He would not sign any extension, and if Republicans refused to extend tax cuts for income below that level,

      


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Reply 1 - Posted by: lostinmassachusetts, 12/31/2012 9:07:21 AM     (No. 9091174)

The left´s story continues to be about taxes, but the real problem continues to be Obama´s wild spending.

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Reply 2 - Posted by: stablemoney, 12/31/2012 10:02:32 AM     (No. 9091285)

All spending must be approved by the Congress. All spending measures must originate in the House. (This is for the evasive and appeaser, Mr. Boehner). The GOP controls the House and was elected to bring spending into line with our means. Obama must be put on a tight spending leash and the credit cards cut up. Obama has no authority over spending that the Congress has not pilfered to him. Congress needs to stand up and assert their constitutional power.

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Reply 3 - Posted by: oh-heck, 12/31/2012 10:26:02 AM     (No. 9091342)

Silly pundit, the tax rate is a sideshow. Social Security/Medicare were already in the red and Obamacare shifted 500 billion out to fund its start. Medicaid is supposed to be insuring an increased number of Americans the states aren´t lining up to bear the new load. Every conceivable tax will be consumed by entitlements if they aren´t limited.

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Reply 4 - Posted by: vesicant, 12/31/2012 10:27:02 AM     (No. 9091345)

What Chait can´t explain is his and scumbama´s sadistic punitiveness towards anyone making "too much" money. Hmm, I wonder how much Chait makes? But that´s OK, of course, because his heart is pure, and I´m sure he gives it all away to deserving charities like Apple, Le Bernardin, and BMW.

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Reply 5 - Posted by: msjena, 12/31/2012 10:33:21 AM     (No. 9091357)

Why are the lefties so obsessed with taxes on the "rich?" It won´t solve our deficits or our debt. And the reality is that while the Democrats won the Presidency, they didn´t win the House. Yet O wants everything he could have gotten if he had won both houses of Congress--and sometimes, it appears as if the Republicans want to give it to him!

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Reply 6 - Posted by: chief1942, 12/31/2012 11:27:32 AM     (No. 9091464)

Reading the comments posted by the New York rag, makes one believe those folks perhaps spent 3 years in the 3rd grade and stilled flunked basic addition. Or perhaps they come from a family who had an accountant do all the "budget" issues and haven´t a clue as to what a budget really is. Read my lips "it´s the spending ,stupid!!"

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Reply 7 - Posted by: Davids918, 12/31/2012 11:29:25 AM     (No. 9091473)

Wonder if this author believes that the increase on those making over $250K will solve the deficit problem when it would barely cover 8 days worth of Obama´s spending.

And Obama is asking for an increase in spending so that increased revenue would vanish into new debt in a heartbeat.



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Reply 8 - Posted by: Udanja99, 12/31/2012 11:35:40 AM     (No. 9091494)

Not holding my breath, #2, since zippy just bypasses congress whenever he feels like it and they just sit back and assume the position when he does it. Now that he has given them a raise without their approval do any of us really expect them to challenge him the next time he circumvents them?

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Reply 9 - Posted by: ColonialAmerican1623, 12/31/2012 11:06:53 PM     (No. 9092463)

Bo don´t know math. It´s all a game to him.

Watch for the midnight hour.

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