Obama Breaks His First Campaign Promise

[Baby Arm!]

That didn't take long, He hasn't even taken office yet...

Whether D or R, all politicians are the same. Did you really expect 'CHANGE YOU CAN BELIEVE IN'?

Obama's tax hike for the 'rich'

WASHINGTON – An economic crisis, rising joblessness and a credit squeeze can make a president-elect refine his words. Today's word is "repeal." During his presidential campaign, Barack Obama promised to repeal President George W. Bush's tax cuts for the wealthy ahead of their scheduled expiration in 2011.

It was part of how Obama would pay for an overall net tax cut aimed at low- and middle-income taxpayers, and an effort to bring what he called "fairness" to the tax system.

No one is talking tax hikes now.

Over the weekend, Obama said he has charged his new economic team with devising a plan that would create or preserve 2.5 million jobs over two years. He said the plan would include broad spending plans as well as the middle- and low-income tax cuts he described during the campaign.

Aides later said the plan would not include any of the tax increases Obama, as a candidate, had said he would impose on taxpayers who make more than $250,000.

Asked Monday when those hikes might go into effect, Obama said, "Whether that's done through repeal, or whether that's done because the Bush tax cuts are not renewed, is something that my economic team will be providing me a recommendation on."

If repealed early, Obama's tax increase on the rich would have generated significant revenue, but not enough to compensate for the cost of his tax cuts. An analysis by the Tax Policy Center, based on January 2008 income projections, estimated that the increases would result in about $43 billion in revenue in 2009 and $45 billion in 2010. Those numbers would be smaller now, as the economy has lowered expected incomes.

Obama's economic advisers say he will not propose any tax increases in the economic plan he unveils in January. It is to be focused entirely on job creation and economic recovery.

[Green Mean]

That is what I have been saying all along. No politicians will ever follow their plans and things always change. They all suck.

[untbowler]

That is what I have been saying all along. No politicians will ever follow their plans and things always change. They all suck.

DING!!!DING!!!DING!!!

You have answered it correctly. All politicians are sleazy ego-driven pieces of garbage.

[Guest JohnDenver]

Where is the breaking of a promise? I have skimmed this post, but don't see it..

[GreenMachine]

DING!!!DING!!!DING!!!

You have answered it correctly. All politicians are sleazy ego-driven pieces of garbage.

Hey now, I have an aunt in politics and she's not ego-driven.

[Baby Arm!]

Where is the breaking of a promise? I have skimmed this post, but don't see it..

THEN: "During his presidential campaign, Barack Obama promised to repeal President George W. Bush's tax cuts for the wealthy ahead of their scheduled expiration in 2011. "

NOW: "the plan would not include any of the tax increases Obama, as a candidate, had said he would impose on taxpayers who make more than $250,000."

See it now Skippy?

Edited November 25, 2008 by Baby Arm!

[Guest JohnDenver]

THEN: "During his presidential campaign, Barack Obama promised to repeal President George W. Bush's tax cuts for the wealthy ahead of their scheduled expiration in 2011. "

NOW: "the plan would not include any of the tax increases Obama, as a candidate, had said he would impose on taxpayers who make more than $250,000."

See it now Skippy?

Sure Jacky... I see it.

I never heard him say he wouldn't do it before they expired. I assumed it would happen almost immediately.

[UNTflyer]

That is what I have been saying all along. No politicians will ever follow their plans and things always change. They all suck.

How do you know a politician is lying?

Besides, presidents promising to raise or lower taxes only appeals to the ill-informed. Congress has the power to levy taxes, not the President. He can sign it or veto it, but without action taken by Congress he is impotent.

[keith]

How Obama Got Elected

More food for thought....

Life Cycle Of A Democracy

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess from the public treasury. From that time on the majority always votes for the candidates promising the most benefits from the public treasury, with the results that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's great civilizations has been 200 years.

These nations have progressed through this sequence:

from bondage to spiritual faith

from spiritual faith to great courage

from courage to liberty

from liberty to abundance

from abundance to selfishness

from selfishness to complacency

from complacency to apathy

from apathy to dependency

from dependency back to bondage.

-- Alexander Fraser Tytler (1742-1813)

[Eagle1855]

Regardless of what he says or does, if you keep taxing the F out of the "wealthy" there won't be any bailouts that can save this economy. Removing incentive doesnt create wealth. It creates mediocrity.

[Green Mean]

How do you know a politician is lying?

Besides, presidents promising to raise or lower taxes only appeals to the ill-informed. Congress has the power to levy taxes, not the President. He can sign it or veto it, but without action taken by Congress he is impotent.

Perhaps you didn't understand what I was trying to say. My only thing is all politicians including senators, congressman, governors etc....well to be frank they are all douchebags and scum of the earth and they always will be.

[meangreendork]

How do you know a politician is lying?

Besides, presidents promising to raise or lower taxes only appeals to the ill-informed. Congress has the power to levy taxes, not the President. He can sign it or veto it, but without action taken by Congress he is impotent.

Essentially, yes.

Obama can make all the plans he wants, but he has to pass it by Congress. Mind you, I have a feeling that tax cuts have been out of the question for months. Something has to fund the bailout, and it's not going to happen with tax cuts in place, and both McCain and Obama's different cut plans from before are more or less void now. The best ways to pay for the bailout that we're all pretty much stuck with is to up taxes and to create more jobs.

You really stretched the truth there, BabyArm. Good job, kid.

[Baby Arm!]

Just how did I stretch the truth here?

I only pointed out a story by the AP that showed Obama's promise to raise taxes on those making more than $250k/yr. and now he is backtracking on that pledge.

The conditions of the economy won't allow him to put through his middle class tax cut and pay for it with tax increases on the $250k/yr bracket. (Let's forget the problem that the tax hike wouldn't be enough to fully fund the cut). Since the funding plank of his tax cut plan is removed, there is no way he's going to get tax cuts for the middle class through.

Obama is just like any other politician in learning campaigning is one thing, governing is another. He is no different than George Bush(41) when in 1988 said 'read my lips, no new taxes' and then later had to backtrack on that pledge.

Change we can believe in?

Edited November 25, 2008 by Baby Arm!

[The Fake Lonnie Finch]

All I can say is, thank God. Someone with a brain in their head apparently got to him and told him that you can't punish the people with capital and means to rebuild the economy when we're in a recession.

It also proves that even Democrats can understand that you need people with money to get the economy rolling along again. I shudder to thinnk what would have happened if "the rich" started hiding their money and/or investing elsewhere while the economy went further and further into the tank.

Kudos to Obama for listening...and, most of all, for showing some shred of understanding about economics.

[UNTflyer]

Life Cycle Of A Democracy

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess from the public treasury. From that time on the majority always votes for the candidates promising the most benefits from the public treasury, with the results that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's great civilizations has been 200 years.

That's why I'm grateful that we live in a republic, not a democracy.

[HoustonEagle]

These post are absolutely ridiculous. Let's throw open-minded rational thought out the window and just root for our team. Which is evidently is our political party and not the nation. Maybe some of you have been sleeping so I will catch you up. This nation is on the precipice of the largest contraction of GDP in our lifetimes. (my apologies to any here that caught the Great Depression) If and it is a big IF we do everything right as a Nation we will only have to suffer through a recession and not something much much worse. So I personally hope that Obama continues to show that he will make decisions based on sound logic and a healthy grasp of history and not feel that his agenda was laid out in campaign speeches.

As a anecdotal side note. I have two friends that recently finished their MBA's one from Rice one from Texas. Two others recently laid off from Citi one of them with a Ivy League education. All are saying that no one is looking to hire right now in their respective job fields. These are scary times and while I don't think we should embrace the fear I do think we should cut-out the political mudslinging and just hope we have the right man for the job. We have him for 4 years like it or not. I also hope all of us here in the work force are fortunate enough to stay employed through these down times.

[TheTastyGreek]

These post are absolutely ridiculous. Let's throw open-minded rational thought out the window and just root for our team. Which is evidently is our political party and not the nation. Maybe some of you have been sleeping so I will catch you up. This nation is on the precipice of the largest contraction of GDP in our lifetimes. (my apologies to any here that caught the Great Depression) If and it is a big IF we do everything right as a Nation we will only have to suffer through a recession and not something much much worse. So I personally hope that Obama continues to show that he will make decisions based on sound logic and a healthy grasp of history and not feel that his agenda was laid out in campaign speeches.

As a anecdotal side note. I have two friends that recently finished their MBA's one from Rice one from Texas. Two others recently laid off from Citi one of them with a Ivy League education. All are saying that no one is looking to hire right now in their respective job fields. These are scary times and while I don't think we should embrace the fear I do think we should cut-out the political mudslinging and just hope we have the right man for the job. We have him for 4 years like it or not. I also hope all of us here in the work force are fortunate enough to stay employed through these down times.

I think he gets two years, and if the country isn't fixed, we impeach him and try to hire a promising cabinet minister from Ireland or Sweden.

[Eagle1855]

I think he gets two years, and if the country isn't fixed, we impeach him and try to hire a promising cabinet minister from Ireland or Sweden.

It isnt Obama's fault the previous administration treated the economy as an afterthought. Im surprised our citizens even support our govt after all we've been put through over the years. You've got to let him bring in the people he needs, give him a full 4 years. Then we'll see if he can take us where we want to be.

[Censored by Laurie]

It isnt Obama's fault the previous administration treated the economy as an afterthought. Im surprised our citizens even support our govt after all we've been put through over the years. You've got to let him bring in the people he needs, give him a full 4 years. Then we'll see if he can take us where we want to be.

The Cabinet is bare.

[TheTastyGreek]

It isnt Obama's fault the previous administration treated the economy as an afterthought. Im surprised our citizens even support our govt after all we've been put through over the years. You've got to let him bring in the people he needs, give him a full 4 years. Then we'll see if he can take us where we want to be.

Honestly... If Bush hadn't authorized tailgating, I think everyone would have moved to Mexico or Canada by now.

[Censored by Laurie]

Honestly... If Bush hadn't authorized tailgating, I think everyone would have moved to Mexico or Canada by now.

Yeah...but b/c of tailgating everyone just settles on the coasts and never goes inside to the heartland to see what America really has to offer. Plus, Bush has done nothing in the last 8 years to increase our national spirit...thats why we're always seeing so many Canada and Mexico douches