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November 23, 2008

Obama Aides: About Repealing Those Evil "Bush Tax Cuts"? Someday But Not Anytime Soon

This stuff is almost getting to be laughable.

After railing for years about those "tax cuts for the rich" and promising to get rid of them to provide middle class tax relief, Team Hope And Change is suddenly singing a different tune.

During an appearance on NBC’s “Meet the Press,” Obama economic adviser William Daley suggested that the incoming administration would reconsider whether to quickly increase taxes for Americans earning more than $250,000 per year.

Daly, who was commerce secretary under former President Bill Clinton and is the brother of Chicago Mayor Richard Daly, said it looks “more likely than not” that Obama would not seek legislation to repeal President George W. Bush’s cut in the tax rate for the wealthiest Americans before it is scheduled to expire after the 2010 tax year. Bush cut the top rate to 35% from 39.6% in 2001.

Obama had promised to restore the top tax rate to its earlier level, while cutting taxes for the middle class.

Obama on Saturday outlined the framework of a plan to save or create 2.5 million jobs by the end of 2010, and is scheduled to introduce the leaders of his economic team on Monday.

David Axelrod, an Obama political strategist who was recently named as one of the president-elect’s senior White House advisers, also suggested during an appearance on “Fox News Sunday” that Obama was considering delaying the tax increase, but he did not elaborate.

Apparently it turns out raising taxes is bad for the economy. Who knew?

Of course as we know, Obama doesn't see tax policy as impacting wealth creation, for him it's all about wealth redistribution and 'fairness'.

Still, even with that kind of mindset it's funny how the facts of life are slapping The One in the face so soon after the election. It's almost as if a lot of what he said was just crap to get dumb people to vote for him.


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posted by DrewM. at 03:40 PM

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