Obama To Nix Middle-Class Tax Cuts

[Wilfredo Ledezma]

http://abcnews.go.com/Politics/Econo...7166810&page=1

President Obama’s budget chief hinted Wednesday that the president’s signature campaign issue — a middle-class tax cut — will not likely survive a budget battle with Democrats on Capitol Hill.

The president stresses that despite tough times, things will improve.

On a conference call with reporters in advance of the president’s trip to the Hill to speak before the Senate Democratic caucus, Office of Management and Budget Director Peter Orszag indicated that, while 98 percent of the budget mark-ups in the House and Senate are on par with the administration’s budget blueprint, some campaign trail promises, like middle-class tax cuts, may get left on the cutting room floor.

I knew the whole "98% of Americans will get a tax-cut" thing was a bunch of bullshit. It was just his way of coming of as a fiscal conservative to entice the Reagan Democrats.

[Wilfredo Ledezma]

[Uncle Mxy]

The middle-class tax cut already happened. This is about the long-term future of it. Why not read your own articles?

Obama's middle-class tax cut is locked in place for the next two years as part of the stimulus package he signed into law last month, but Orszag told reporters today that the White House will have to use those two years to figure out how to keep that tax cut in place for middle-class families beyond 2010.

Translation: It'll be a 2010 campaign issue, much as Bush's tax cuts with an expiration date turned out to be a 2008 campaign issue.

<yawn>

[UxKa]

Mxyned

[Tahoe]

If it did happen, thanks to the Repubs for fighting for it. Right now he'll steal money from anywhere he can get it.

Gov't = the problem

[UxKa]

Gov't = the problem

But just for the last 3 months, right?

[Tahoe]

No. I've said a ton of times, both sides are thieves. But this administration it taking theft to a whole new level.

[Wilfredo Ledezma]

Mxy, what your referring to wasn't a 'tax cut', what Obama did was implement a 'tax credit', which means some of your withholdings was just added to your take home pay to make it appear as if you were given a 13 dollar reward every week for taking the trash out.

What most people don't seem to know, however, is that tax credit is taxable income, so essentialy you'll just be paying it back to the government next year anyway.

Plus, it's short-lived and petty.

There was never any "tax cut" to begin with, Obama just said there was because it sounds better to the human ear.

[Wilfredo Ledezma]

Generational Theft.

I feel bad for all the people my age who fail to get a college degree. They might as well put a gun in their mouth right now and get it over with.

[Tahoe]

We're supposed to be getting something back so we can pay for our engergy bills that are about to go up, cuz of Obamas cap and trade program.