Democrats Pull Away From Obama On Bush Tax Cuts

In late 2010, President Barack Obama went against his party's grain and extended the Bush-era tax cuts for another two years because, as he said at the time, raising taxes in a struggling economy is "the last thing you want to do." Two years later, the economy continues to struggle, but the president has changed his tune. He wants to raise taxes on those making in excess of $250,000.

His goal is to put Republicans, principally presumptive presidential nominee Mitt Romney, in a bind. Either they oppose a tax cut for middle-class Americans, or they accept the president's plan and try to preserve the Bush tax cuts for the $250,000 to $1 million-per-year set in stand-alone legislation that would paint them as coddling the rich.

So far, the only politicians to feel the heat from this are Democrats in tight Senate races.

It's unlikely President Obama's plan will put Romney or any Republicans into a bind. Americans understand the economy won't recover until investors invest, small businesses expand, and hiring improves.

Charles Krauthammer says President Obama's proposal shows he has given up on growing the economy and now pins his re-election hopes on fomenting class warfare. All Romney has to do is ask Americans if it's worth it to tax away all that potential growth to raise $65 billion in additional government revenue in a country with a $1.2 trillion annual deficit. No one serious about economic growth could say it is.

Read more from Ford O'Connell at U.S. News & World Report

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published this page in In The News 2012-07-11 16:00:00 -0400
Analysis & Political Strategy