White House signals compromise on tax cuts

[somone]

http://www.reuters.com/article/idUSTRE69U1KM20101105

White House signals compromise on tax cuts
By Jeff Mason and Richard Cowan
WASHINGTON | Thu Nov 4, 2010 11:01pm EDT

WASHINGTON (Reuters) - A conciliatory White House said on Thursday it was willing to negotiate with Republicans on tax cut extensions, but Senate Republican leader Mitch McConnell took a hard line against compromises with President Barack Obama in a new Congress.

In the first possible policy shift since Democrats suffered heavy election losses two days ago, White House spokesman Robert Gibbs signaled Obama was open to talks on a temporary extension for the wealthy of Bush-era tax cuts that expire at the end of the year. The fight over tax cuts looms as one of the biggest clashes since the election between Obama and Republicans, who will control the House of Representatives in the new Congress that convenes in January.

Obama invited top leaders from both parties to a meeting and a dinner at the White House on November 18, and he said the tax cuts will top the agenda. Obama has insisted on keeping the tax cuts for families making less than $250,000, but let them expire for wealthier Americans, while Republicans want them extended for all income levels. If no agreement is reached, all Americans will see higher tax rates on January 1.

But White House spokesman Robert Gibbs said the president was willing to discuss keeping all lower tax rates, at least temporarily. "He'd be open to having that discussion and open to listening to what the debate is on both sides of that," Gibbs told reporters, later emphasizing the cuts for high earners would not continue forever. "The president does not believe -- and I think would not accept -- permanently extending the upper-end tax cuts," Gibbs said...

[elocs]

1. Yeah, I read about that here this morning:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9473976

So we have a "chastened President Barack Obama" and a "conciliatory White House".

[DJ13]

2. The propsed extension on the upper income tax cuts is a GOP trap

Its not a coincidence they keep pushing for two years........ leading right up to Obama's reelection, where they will hit him upside the head with the same BS about raising taxes in a bad (or a fragile) economy they were using this year.

[jgraz]

10. I guarantee you that is what will be agreed to

Assuming it hasn't already been agreed to.

[Marr]

3. This is what they wanted anyway.

It was pretty hard to sell "compromise" as the motive force for extending the wealthys' tax cuts when Democrats held both houses of Congress, just as it would be hard to sell Social Security cuts as the product of compromise. Now they've got an easy, almost plausible excuse again. Those mean Republicans made us do it.

I can tell how this is going to go down already. Obama will agree to extending the tax cuts for the wealthy for a couple of years. If he's a one-term president, the Republicans can make the cuts permanent. If he wins next time around, he'll extend them for two more years. And then again two years later.

[napi21]

4. I could maybe accept an SHORT EXTENTION (One Year!)

BUT will some concessions from the other side too. ie: A one year across the board extension of all the tax cuts coupled with an dramatic increase in the $1,000,000+ earners & reeactment of the inheritance taxes.

That would show the American people that Obama is willing to work WITH the Pubs but still be concerned with the debt & borrowing.

[patrice]

7. I like this idea.

[Wounded Bear]

5. Hello double dip recession....

and they'll still blame it on Democrats, and the stupid stiffs out there will still buy it.

:shrug:

[rhett o rick]

6. DO NOT COMPROMISE MR. PRESIDENT. DAMN IT, THAT'S WHAT GOT US WHERE WE ARE. NM

[aquart]

8. NO.

Tell them to FOAD.

[kath]

9. Anyone who votes to extend tax cuts for the rich is NO Democrat.

Period.
If this isn't an appropriate litmus test, then what the hell is??

Line in the sand time. Show your true colors, so-called Democrats.

[PhilosopherKing]

11. Pussies

They never learn.

[jeanpalmer]

12. Is a temporary tax cut for the rich

smaller than a permanent one?