Friday, November 12, 2010

Obama Maybe Not Caving On Tax Cuts

Good, so far: "'Here's the right interpretation -- I want to make sure that taxes don't go up for middle class families starting on January 1st,' Obama said at a news conference at the conclusion of the G-20 Summit here. 'That is my number one priority for those families and for our economy. I also believe that it would be fiscally irresponsible for us to permanently extend the high income tax cuts. I think that would be a mistake, particularly when we've got our Republican friends saying that their number 1 priority is making sure that we are dealing with our debt and our deficit.'"

That does hint he might be amenable to a temporary extension. We can come back in two or three years and have this argument all over again?

1 comment:

namefromthepast said...

What level of redistribution is the most fair? Any number between 0 and 100% is arbitrary so go for it I guess.

This is not a zero sum game. If we tax the wealthy greatly it won't make anyone's life better so what's the point?

The tax rate that should be forefront in debate is the tax about to be forced upon everyone through inflation.

QE2 and stimulus? Intentional devaluation of the dollar is criminal especially to the poor. Soro's investment letter advises commodities as an inflation hedge. This jackass knows exactly what he is doing when he promotes liberalism. FYI-it ain't to help the disadvantaged.

What does my grandma on fixed income do? What shall her inflationary hedge strategy be? To die? Gotta love inflationary monetary policy.

Occupying yourself with the tax rates of the wealthy misses the vehicle of social justice by such a wide margin you can't even see the dust.

"That is my number one priority for those families and for our economy." This is the purest form of bullshit on the planet.