Obama Open to Tax Cut Compromise
With his proverbial political tail between his legs, President Barack Obama has articulated his clearest signal yet that he is open to a post-midterm compromise with newly empowered Republicans that would sustain some parts of the Bush-era tax cuts, which are set to expire at the end of 2010.
With his proverbial political tail between his legs, President Barack Obama has articulated his clearest signal yet that he is open to a post-midterm compromise with newly empowered Republicans that would sustain some parts of the Bush-era tax cuts, which are set to expire at the end of 2010. –JCL
Wait, before you go…Reuters:
President Barack Obama gave his clearest signal yet on Saturday of a possible post-election compromise with resurgent Republicans that could prevent tax rates from rising for any American, even the wealthiest, come January.
Obama, in his first weekly radio address since his Democrats suffered big losses in Tuesday’s congressional elections, reasserted that Bush-era tax cuts should be made permanent for the middle class before they expire at year-end.
But while insisting tax cuts for wealthier Americans should not become permanent because of a $700 billion impact on the deficit over the next decade, he left the door open to a temporary extension for higher income levels — as long as it falls short of costing that much.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
With his nonstop barrage of lies, the president has degraded our electoral system to the point that any result will feel illegitimate.
The class war that gave rise to his campaign is the fault of a long line of corporate Democrats like Joe Biden, and voters know it.
A revealing new study finds the Justice Department charged just 359 such criminals in January—a decline of 25% from five years ago.
A closer look at the Trump administration's agreement with the Taliban reveals all the president's concerned with is bragging rights.
After nearly two decades, America's longest-running conflict appears to be coming to an end. Even a flawed peace deal is worth celebrating.
Since his acquittal, the president has only doubled down on his impeachable offenses, subverting both the republic and its Constitution.
There are currently no responses to this article.
Be the first to respond.