THOUGHT FOR THE DAY!

Truth needs no law to support it. Truth is self-evident to all. Truth withstands re-examination. Truth survives questions. Throughout history, from Galileo to Zundel, only lies and liars have resorted to the courts to enforce adherence to dogma." -- Michael Rivero

 

Obama may delay tax-cut rollback for wealthy

President-elect Barack Obama may consider delaying a campaign promise - to roll back tax cuts on high-income Americans - as part of his economic recovery strategy, two aides said on Sunday.

David Axelrod, the Obama campaign strategist who was chosen to be a senior White House adviser, was asked if the tax cuts could be allowed to expire on schedule after tax year 2010 rather than being rolled back by legislation earlier. "Those considerations will be made," he said on "Fox News Sunday."

Bill Daley, an adviser to Obama and commerce secretary under former President Bill Clinton, said on NBC's "Meet the Press" that the 2010 scenario "looks more likely than not."

President George W. Bush's tax cuts are set to expire at the end of 2010. After that they would revert to 2001 levels, when the top individual tax rate was 39.6 percent.

Obama has called for reducing taxes for the middle class, but requiring the wealthiest Americans to pay more than the current top rate of 35 percent.

His aides' comments suggest Obama may be wary of imposing any additional tax burden at a time of deep crisis, despite the outlook for record budget deficits and mounting national debt. He may also be seeking to bolster Republican support for his recovery measures.

Webmaster's Commentary: 

At first read, this article will probably piss you off. Not even in office and already Obama is caving on his campaign promises.

BUT, note that nowhere in this article is there a statement by Obama himself. So, one of two things is oging on.

1. Obama's advisers are simply putting out their own agenda, hoping to create a public expectation of what Obama will do in office, in order to coerce certain policies upon him; to box him in politically. If that is the case then Obama needs to get his people back under control.

Or...

2. Obama is using his advisers to float some trial balloons to see what campaign promises he can drop without losing his huge margin of support coming out of the election. If this is true, then Obama has just betrayed a fatal weakness! He thinks America voted for him. personally. We did not. We voted AGAINST continuing the policies of the past that got us into this mess, and we expect and demand change with this new administration.

So far, Obama is looking more and more like business as usual, and if indeed Obama simply picks up where Bush leaves off Obama will quickly find that the frustration and pent-up anger currently focused on Bush will quite easily transfer onto himself.

Comments

What to do?

Anonymous

I'm 100% cash.

I've been 100% cash for the last three years.

I realize that over the last three years I've missed a lot of throws of the dice that would have paid handsomely, and, that look easy in hindsight.

But, I'm still 100% cash.

I read everything I can read. I prefer to read older history texts, but I find myself reading current material too today.

And I find so little that isn't out and out puffing by some huckster, I will remain 100% cash until I see something that looks better, and that will allow me to still sleep nights, just as I do now.

And FYI, I'm near 60 and raised two sons. I've been a self-employed trading entrepreneur my entire life, though mostly because I'm unemployable due to my inability to be a patient slave, or to take "No." for an answer.

I have never had a loan or a credit card in my life.

I've been married to the same woman since 1970, though God only knows how.

And yet, despite all the signs that I would expect to lead me otherwise, I'm still 100% cash.

My wife and I now live in a one bedroom apartment and drive a 17 year old Volvo and a 16 year old pickup, but just because I was lucky enough to find good ones just when my Honda got too rusty according to the state.

If I can get healthy again (I'm really trying hard here, 100 sit-ups a day minimum) I'm going to buy a big sailboat.

Sailboats are cheap right now because the rich are casting off their toys.

If my wife would let me, I'll buy that big sailboat.

And in that case, I'm going to point it away from these shores and sail away.

But then, I'm near sixty. And travel has always been dream, if a dream that seems more and more remote every day I live now.

My health is remarkably good. The big problem I have is I keep falling down. And when I fall down now, I get hurt pretty bad. Twice in the last year or so, I really fell hard. The first time I pushed a rib into my liver, which left me disabled for ... well, that was over a year ago, and I still suffer some from it, edema from the injury left me with a weak cardiovascular system in the legs. The edema went away, but the legs are weak and heavy, clumsy. The second time I fell, I couldn't believe it, but I broke an ankle and an arm, left and right. It was almost funny. To look at me, you couldn't imagine this had happened to me, I'm young and still a massive brute! But as improbable as it may seem to me, sometimes even I wonder if I'm not going to die from this old age thing one of these days. It's so ironic looking at it that way, that old age is exactly the way it's always been described to me. Maybe I'm wrong. I've been wrong before. I can hope I'm wrong this time too. But at sixty, I think I must be pretty near half way out on this limb that is too weak to hold me all the way out.

WHAT TO DO

jintampa

Interesting....thanks Don and get well:)

I can't believe I fell for it for a second...

Liberal Professor

For a moment, there was a part of me that actually thought this guy might be the real thing. That he had the "right" advisors because he "needed" to in order to succeed. Once he was at the top, he could be himself to a greater degree.

Don't know what I was drinkin'!

It seems he is more like the sinister advisors of his than he is forthright with the American people who got him there. Hell, who at this point wouldn't RATHER have Rev. Wright be a serious influence INSTEAD of Rham and comapny?

Change??????

Easterling

Looks like the 'change' that Obama was talking about consists of the nickles, dimes and quarters we will have in our pockets after the same group of Ivy League 'Elitists' who got us all into the deep do-do get another whack at running the financial world. The problem with ideologues is that they are incapable of admitting mistakes. And the problem with academics is that they really believe that they are smarter than everyone else even after inflicting repeated 'serial failure' upon us all. And these guys are on our side. HEH!

'New' Used Car Salesman

'Same Old' Used Car

LIVE FREE OR DIE

Obama's Change

jintampa

Well, based on this article and speaking with different average "citizens" since the election....people are BANKING on Obama making things better for "MAIN STREET" as one nice woman told me as we were standing in line to pay our water bills. I told her that I hope he doesn't have a hidden agenda....she looked a little surprised by that remark.

If it is business as usual though, I can see why troops are waiting here now at Centcom to quell any disturbances because you can be absolutely certain that people are going to be extremely pissed off at being duped....it's gonna get ugly. I hope I'm wrong.

You are not wrong.

Anonymous

This giant ship, the USS Globalized World Economy, has a new and wholly inexperienced American captain.

He'll be given every opportunity and advice to equal and encourage actions on those opportunities, and to make literally the same blunders as have resulted from similar advice being given to the Idiot Captain we are about to almost unceremoniously toss overboard with an historic rock tied around his skinny Bush-neck.

We've come down through the economic whitewater rapids awful beat-up.

Next stop, Niagara Falls.

OBAMA

jintampa

What do we do now? Any suggestions before I go bankrupt?

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