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September 12, 2011

Pass This Dutchie: No Bounce For Obama's Historic, Unprecedented Super-Amazing Jobs Speech
Breaking Update: Obama Wants Automatic Tax Increases To Pay For His Jobs Bill

Late summer is a bad time for re-runs. By September, people are tired of them.

In the just released Gallup daily tracking poll, which now has three days of polling since the speech was delivered last Thursday (Sept. 9th through 11th), Obama's approval rating has fallen to 42 percent.

By contrast, in polling done before the speech between Sept. 5th through 7th, Obama was at 44 percent approval, and on Sept. 6th through 8th, he was at 43 percent.

So the best one could say is that the jobs speech left his ratings virtually unchanged.

If Obama has any hope of getting his jobs agenda through Congress, he'll have to do it by convincing Republicans that his policies are popular. But it's a lot harder to do that if his approval ratings are in the tank.

And, of course, despite vowing that "everything is paid for," he actually simply instructed the Super Commission to float him another half-trillion, and put that much more on the nation's collective bar-tap.

Actually, this just in: Jake Tapper reports the White House does have a plan for paying for this.

Obama just doesn't want it very well publicized. And for good reason:

WH will ask supercommittee 2 come up w/ a way 2 pay 4 $447B jobs bill, + if they dont those tax increases wld B triggered.

Now, he's saying he wants either cuts that seven members can agree to, or automatic tax hikes, if no other way to pay for this nonsense can be found.

It just so happens that six of the members of the 12 member commission are Democrats... So gee, what the odds the automatic tax hikes will go into effect? Something approaching 100%, I would think.

Shocker. Always this passive-aggressive attempt to get others to raise taxes.

More Details: All to be paid for by, um, "spending cuts in expenditures in the tax code," as Obama once so euphemistically put it.

White House Office of Management and Budget Director Jack Lew outlined President Barack Obama's plan to pay for his $447 billion jobs plan — mostly through tax increases.

Lew said itemized tax deductions and exemptions for those making more than $200,000, and families earning more than $250,000 would be cut — raising about $400 billion to pay for Obama's jobs plan over 10 years. This includes a change to bring more hedge fund earnings under normal tax rules as opposed to capital gains rates.

The new tax rules would not take effect until January 2013, Lew said. Obama is not offering any spending cuts to pay for the jobs plan.

The rest of the total would be raised by cutting subsidies for the oil and gas industries to bring in another $40 billion, and change the depreciation rules for corporate jets. All told, Obama would cut $467 billion to pay for his plan.

No, he would "cut" $0 billion. He would increase taxes by $467 billion.


Thanks to Slublog.


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posted by Ace at 02:10 PM

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