Axelrod: Obama may delay tax rollback for the wealthy

[wundermaus]

Run time: 05:47 https://www.youtube.com/watch?v=3He-sqIyyS4   Posted on YouTube: November 23, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: November 23, 2008 By DU Member: wundermaus Views on DU: 867

 
Axelrod: Obama may delay tax rollback for the wealthy
By David Edwards
David Axelrod told Fox News's Chris Wallace that Barack Obama may choose to let president Bush's high-income tax cuts expire instead of immediately repealing them. Axelrod has been selected to be Obamas senior White House adviser.

The promise to roll back Bush's tax cuts for the most wealthy Americans was a key promise of Barack Obamas campaign.

Partial transcript

WALLACE: Its been suggested that one way that Mr. Obama could reassure the markets is to announce that he is not going to raise any taxes, even on the wealthy and corporations, during a recession.

Is that something that he is considering announcing, postponing that part of this tax plan?

AXELROD: Well, as you know, Chris, the aggregate effect of his plan would be a net tax cut. Hes committed to getting middle-class tax relief in the pipeline quickly, and there's no doubt that were going to have to make some hard decisions in order to pay for the things we need.

And whether it is through repeal of those tax cuts for the very wealthiest or whether we simply allow it to — allow those cuts to expire in 2010, were going to accomplish that because we have to. We have to make some hard choices.

WALLACE: But you're making it sound as if one consideration would be to let them expire, which means that the taxes would go up on the wealthy and corporations in 2011 rather than calling for it right away so it would happen in 2009.

AXELROD: Well, as I said, you know, those considerations will be made.

This video is from Fox News's Fox News Sunday, broadcast Nov. 23, 2008.

[Democrats_win]

1. So if Obama won, how come we get McCain's tax plan?

The sooner America starts paying off bush's five trillion dollar debt, the better off we'll all be.

[dixiegrrrrl]

2. The financial people Obama is picking helped cause the meltdown !

1. Robert Rubin..Obama's financial adviser during campaign:
* Chairman, Council on Foreign Relations
* Rubin , as Clinton's Treasury Sec. strongly opposed the regulation of derivatives.
He helped cause the current finanacial meltdown!!!!
* Joined Citibank days after leaving Clinton WH, just after Glass-Steagal Act was repealed.
Rubin's leadership at Citibank has been implicated in the creation of the sub-prime crisis.

Read Wiki for much much more on why Rubin is a major player in the Financial disasters we are experiencing.
http://en.wikipedia.org/wiki/Robert_Rubin
Rubin's long time pals have been picked for the Obama Admin.

2. Timothy Franz Geithner...picked as Treasury Secretary:

* worked for Kissinger and Associates in Washington, D.C., for three years ( 95-98, I think)
* Member Council for Foreign Relations ( CFR)
* worked for IMF 2001-2003
* arranged sale of Bear Stearns

3. Larry Summers

* World Bank chief Economist 91-93
*long-time political mentor was/is Robert Rubin, CFR member
* was Rubin's Deputy Treasuey Sec. under Clinton.
*ardent proponent of free trade and globalization
* signed off a memo stating developed countries ought to export more pollution to developing
countries.
* long history of controversy and conflicts of interest resulting in financial gain, not supportive of
progressive ideas.

I hve a bad bad feeling about all this.

[Phred42]

3. Obama has been spoken to

and has come to jesus.

He's kicking the can down the road wit BS excuses. in 2010 there will be another excuse and we will have forgotten this one.

The Olgarchy will protect itself at all costs.

[szatmar666]

4. My heart is bleeding for Wallace's friends in greenwich ct

who own their own castles private jets and weekend islands. I think they wouldn't survive a 5% tax hike, especially given the fact that they don't pay it anyway because of all the offshore tax havens they have at their disposal.

these people are disgusting; i would put them all on a ship and drop'em off in China let the Communist party show them how o make an honest living for a change in 1 of their sweat shops.

[Jennicut]

5. Morel ike Westport. I hate that town, I am from CT by the way.

[Iwillnevergiveup]

6. What was most interesting to me

is that he didn't come out and say Richardson is with Commerce.

[mikehiggins]

7. Geeze, DU'ers really grab onto anything, don't we?

If I had seen that piece before hearing all the angst and anger it has caused I would have dismissed it out of hand as irrelevent, and pointless.

Nobody said the Bush taxcuts were going to stand. At most you could get the idea that the possibility existed that they will be allowed to expire rather than be rolled back immediately.

All I can say is that the sensible course is to see how this stuff plays out instead of rushing to the barricades as soon as someone says somebody told him something that might mean something. Or not.

Obama is not going to satisfy everyone's wishes, no matter how righteous we might think our own positions are. Nobody could. Let's see how he does before getting the pitchforks and torches out.