Obama trading budget cuts for tax hikes

[Nancy Waterman]

It seems the cuts he is proposing are there to get the GOP to agree to some tax hikes as well.
It will be a miracle if he can get agreement on this. The cuts are pretty onerous, but the tax hikes
would really strengthen the economy overall IF he can pull it off.


But despite the cost-cutting rhetoric, many of the deficit gains would come from revenue increases, including higher taxes.

Tax cuts for the highest earners would be allowed to expire, while those in the highest bracket would also face a 30 percent drop in allowable tax deductions.

Oil, gas and coal companies would lose 12 tax breaks, raising $46 billion for the government in the next decade.

http://www.rawstory.com/rs/2011/02/14/obama-eyes-tax-hikes-spending-cuts-to-curb-deficit/

[denverbill]

1. Unfortunately, my guess is his compromise will be keep the cuts and lose the tax hikes.

That seems to be the norm.

[ladjf]

2. I can't think of anything good about Obama's political positions

at this point. In my mind, he is just about our worst nightmare, a Democratic President who is
actually on the side of the Republicans. I keep hoping that maybe he has something good and intelligent up his sleeve. But, I'm getting increasingly skeptical.

[ProSense]

3. The GOP want to increasing taxes on the rich and ending oil subsidies? n/t

[ladjf]

4. Are you still kidding me? Obama has been babbling that line

since the early days of his campaign. I'm not talking about his progressive sounding campaign slogans, I'm basing my opinions upon the truly damaging, corporatist acts he has already committed
and is now showing every signs of doing some more of that.

If you think it was ok to lower the taxes on the rich as part of a deal to benefit the unemployed,
that's your right. I,however,consider the wealth shift toward the rich to be the number one
problem facing the human race. So, any politician that agrees to legislation which accelerates
that shift is either crooked or dumb or both.

[11 Bravo]

9. Barack Obama does many things. Babbling ain't one of them.

[ladjf]

10. My definition of "Babbling" in this context was phrases that are

repeated over and over with no real action connected to them. During his campaign he repeated said that the rich should not have their taxes increased. But then he made the "deal". To me, meaningless
talking is babbling.

[msongs]

5. words are expendable. only actions are the truth nt

[Hello_Kitty]

6. The tax hikes will go the way of the public option.

We got a mandate and no public option then and we're getting austerity measures and no tax increases on the wealthy and corporations now.

[DCKit]

7. "...raising $46 billion for the government in the next decade." Exxon's quarterly profit?

He should be aiming a bit higher.

[Autumn]

8. He did lower the bar there

didn't he.