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Obama says he'll tax the rich, roll back Bush cuts and aid middle class

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  1. #1
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    Obama says he'll tax the rich, roll back Bush cuts and aid middle class

    Let the games begin!

    Obama says he'll tax the rich, roll back Bush cuts and aid middle class

    BY KENNETH R. BAZINET
    DAILY NEWS WASHINGTON BUREAU

    Sunday, November 9th 2008, 12:54 AM

    CHICAGO - For the rich, the party is over - as promised.

    Despite speculation to the contrary, President-elect Barack Obama will act on his campaign promise and roll back the Bush administration's tax cuts for the wealthiest Americans, an Obama senior adviser told The Daily News.

    The Obama camp rejected the overnight analysis by some pundits who speculated the language at his first news conference Friday suggested the President-elect was backing away from his tax plans.



    "No change to the tax plan - at all," the aide said.

    Obama plans to raise taxes on the wealthy by asking the Democratic-controlled Congress to allow President Bush's tax cuts to expire at the end of 2010. When they expire, it could pump in about $72 billion a year toward balancing the budget, according to the Urban-Brookings Tax Policy Center.

    The President-elect also will move quickly with his promised middle-class tax cut, even before the taxes on the rich expire, top Obama and congressional aides confirmed Saturday.



    "In the campaign, Barack Obama proposed tax cuts for middle-class families as part of an overall plan that is a pro-growth, pro-jobs net tax cut," Obama senior adviser Stephanie Cutter told The News. "His views on how to get the economy growing have not changed."

    And House Speaker Nancy Pelosi (D-Calif.) plans to get the permanent middle-class tax cuts passed and in Obama's hands in early 2009, Pelosi spokesman Brendan Daly confirmed.

    Obama promised yesterday in a weekly radio address "to hit the ground running" to tackle the nation's economic woes. In the interim, he is urging President Bush to extend unemployment benefits, increase food stamps and approve a construction jobs bill to stimulate the economy.



    Meanwhile, Obama Saturday spoke to Russian President Dmitry Medvedev and to Polish President Lech Kaczynski.

    A Kremlin statement said the two leaders believe an "early bilateral meeting" should be arranged.

    A Bush administration plan for setting up a missile shield in Poland has been a sore point with the Kremlin and has served as another dent in Russia's battered relationship with the U.S.

    Obama foreign policy adviser Denis McDonough said yesterday that Obama had "a good conversation" with Kaczynski about the American-Polish alliance but that Obama had made no commitment on the missile shield plan.

    "His position is as it was throughout the campaign: that he supports deploying a missile defense system when the technology is proved to be workable," McDonough said.

    kbazinet@nydailynews.com

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    They're still calling them "middle class tax cuts."

    Raising taxes on anyone in a recession is a bad idea... only going to push us in deeper. I thought Obama had conceded that point?

    I'd be shocked if Obama deployed a missile defense system.. he already promised to significantly cut defense spending. We probably don't need it though.. with Obama as President the terrorists are going to love America along with the rest of the world.

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    wonder where his "rich" cutoff will end up eventually

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    Quote Originally Posted by busyLivin View Post
    I'd be shocked if Obama deployed a missile defense system.. he already promised to significantly cut defense spending. We probably don't need it though.. with Obama as President the terrorists are going to love America along with the rest of the world.
    They're probably going to love him like they did Bill Clinton. Probably with the same results.
    So many cries of inequality stem from one of group
    of people doing little or nothing and then bitching
    about another group that actually does something
    to improve their lives.

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    Quote Originally Posted by urbanski View Post
    wonder where his "rich" cutoff will end up eventually
    Clinton's "rich cutoff" was around 42,000 a year I think.

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    Quote Originally Posted by vader View Post
    Clinton's "rich cutoff" was around 42,000 a year I think.
    Obama's will be very close to that. Sigh. If only half of his voters weren't so naive.

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    Quote Originally Posted by vader View Post
    Clinton's "rich cutoff" was around 42,000 a year I think.
    Damn, I don't know many people who make under $42k.

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    Obama's tax plan is OLD news.

    Why the thread?
    Don't go around saying the world owes you a living. The world owes you nothing. It was here first.

    Mark Twain

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    Quote Originally Posted by Big Smoothy View Post
    Obama's tax plan is OLD news.

    Why the thread?

    Because about 70% of voting Americans bought it as the greatest new thing since sliced bread?
    Rules? You mean we have RULES for that???

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    Quote Originally Posted by vader View Post
    Clinton's "rich cutoff" was around 42,000 a year I think.
    Probably around $33000, the average yearly income for African Americans

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    Quote Originally Posted by Splash Log View Post
    Probably around $33000, the average yearly income for African Americans
    I make less than the average black Americans yearly income.
    “I used to do drugs. I still do drugs. But I used to, too.”

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    Quote Originally Posted by min0 lee View Post

    Obama says he'll tax the rich, roll back Bush cuts, and aid middle class

    Have Problems?... Chances are its due to overpopulation
    Save The Oceans, Save the Planet, Save Your Family, Save Yourself!



  13. #13
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    Quote Originally Posted by KelJu View Post
    I make less than the average black Americans yearly income.

    Have Problems?... Chances are its due to overpopulation
    Save The Oceans, Save the Planet, Save Your Family, Save Yourself!



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    Quote Originally Posted by ALBOB View Post
    Because about 70% of voting Americans bought it as the greatest new thing since sliced bread?
    I have not seen polling data stating 70% of Americans bought it as the greatest thing since sliced bread.

    I don't think the tax issue was a factor in the election but I haven't seen the data.

    There are many more problems facing the US and they are very big problems.

    Much more important than even discussing taxes.

    The US economy is on pair of train tracks that will crash into a mountain.

    Does anybody know what I'm referring to.
    Don't go around saying the world owes you a living. The world owes you nothing. It was here first.

    Mark Twain

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