Freshly re-elected President Barack Obama knows he has the upper hand against Republicans in negotiations over taxes and spending. In remarks at the White House Friday the Obama made clear he's eager to extend the Bush-era tax cuts for those making $250,000 and under.
"This was a central issue in the election," the president said in his first post-election remarks. "On Tuesday night we found out a majority of people agree with my approach."
Congressional Republicans are against any tax increases, though House Speaker John Boehner has suggested closing some tax code loopholes might be acceptable.
Obama's stance is drawing mixed reactions.
"The Prez bet when he struck the non-grand bargain that he would win re-elex & have sequester/Bush tax cut leverage. Looks like a great bet," tweeted MSNBC political analyst Mark Halperin.
But conservative radio talk show host Hugh Hewitt wasn't impressed.
"POTUS just telegraphed that he is not moving to center by trying to corner House and get massive tax hike immediately," Hewitt wrote on Twitter.
Deep penetrating analysis on the part of Politix: "Obama's stance is drawing mixed reactions. " Well isn't that a surprise? Bohener threw out his position, Obama countered with his... let the games begin.
No, in fact it is a total misrepresentation. Even the accusation that Obama is raising taxes is false. He is just not going to renew temporary tax cuts implemented during the Bush administration for people earning more than $250,000 a year. People earning more than that will see their tax rate go back up to 38.5% or so. If that makes them poor, then they need better money managers. There are plenty of ways for the rich to avoid paying taxes, which explains why Romney revealed that he paid around 14% in taxes last year, even though his supposed tax rate should have been 35%. He said that it is not fair to tax capital gains at the same rate as wages because taxes have already been paid at the corporate level, but aren't wages paid from corporate profits which have also been taxed at the corporate level?
"Central issue on the election?" WTF? Barky...you won by NOT fixing the economy!!!! Going off the fiscal helps Obama. It will ensure the takers grow in size and become the cadres of Democrat supporters. The producer class gets to move to another country for a better life, if we can afford to move that is...or worse, you let us leave.
@MRMacrum Go ahead. Laugh. But in 20 years when the American brain drain becomes a national issue you won't be laughing. It has already started with foreign students going back home to work instead of working in the US because of better pro-business climates in those countries. Should I list them for you?
There is really no point attempting to have meaningful conversations with these slobbering Obama lovers. They always want you to bend or compromise but they are never willing to do these things themselves. It can be very tiring. I just use their classic line against them...... "BIGGOT"! And then walk away, with no further explanation leaving no room for argument. LOL :)
No, he is an idiot. And there is not a majority of americans in favor of his approach, because if there was the dems would have gained control of the house - where all spending is controlled. So technically the majority favors republicans controlling the purse.
@bizaroWorld 10 million less and he still won. What does that say to you? If math were your subject, I would say there were millions less overall voters. Meaning that both candidates sucked so bad people felt simply not voting was more appealing. What needs to happen is people need to start pushing for quality candidates and not "Well, he's not the other guy!"
@Fishbone345 You got that right. I have felt for the last two election cycles that the media has chosen the Republican candidate. They marginalized who ever they didn't like, and promoted whom they thought the weakest.
@bizaroWorld you really think the media liked Romney or McCain? I have never gotten that feeling. but I also do agree we definitely need better candidates! I would never vote for the lesser of 2 evils, I always avoid voting for the buffoonery that are dems and gop. with the exception of Scott Brown, I would have left it blank, but I absolutely loathe Elizabeth Warren
@Lpguy Oh, man, are from MA? I don't understand how Warren got elected. Here in Illinois our brilliant electorate voted in a guy who was already thrown out of the Statehouse once on ethic charges and incumbent Jesse Jackson Jr. who hasn't been at work in six months for depression; he is currently plea bargaining with the FBI over the misuse of campaign money. Still, he won by 73% on Tuesday. As long as you have a "D" next to your name, fellow Democrats will vote you in. To answer the Romney/McCain question: I don't think the media liked either - in fact I think the opposite. I find that they back the most unelectable Republican during the primaries. Once they are chosen, then they turn on them.
I see that the Prez and Reid have changed their tune from "Fair Share" to pay a "Little bit more." I have a hard time believing that 2% of the population "paying a little bit more" is going to do anything to pay down the debt.
I just don't understand this whole debate. Washington just needs to STOP SPENDING so much money.
@bizaroWorld - key word 'protect'. Going overseas and trying to expand the American empire and put up military post in every nation isn't protecting my friend. They call that the offensive move, not the defensive stance.
@kirbstomp1 Not arguing with you. I don't think we should go to war and oust dictators just so oil can flow to us freely. You know, like Obama did with Libya. Of course that wasn't oil for us but for Western Europe so I guess that is why no one on the left seemed to care.
As it stands now the President doesn't have to do a thing to drive a stake through the GOP's heart. If Republicans hold to their ideology and we pass January 1 without some band aid tax cuts will expire on schedule, cuts in domestic and military budgets will follow, and as defense and other contractors cut back their business unemployment will spike. By pulling huge amounts of money out of the economy the Republicans will have set the stage for financial devastation, which will be unmistakeably the Republicans' doing.
All the President need do is ask for reasonable legislation from the lame duck GOP-controlled House for the next 6 weeks or so. If he doesn't get it, the damage to our economy won't be his fault.
You are exactly on the money. He has them by the proverbial huevos. They don't play ball on letting the rich tax cuts expire and keep them for the middle class and the election 2 years from now will see a while lot less Republicans in the house. Because one or the other he's going to let the rich tax cuts expire. And it will be clearly positioned if the GOP refuses to save the middle class cuts as well. Obama is in the driver's seat on this one.
Sure seems to me the media is already gearing up to start stoking the fire between dems and republicans. Really? Obama dares republicans to cross him, WTF? Sounds like schoolyard fightin words to me. What are they going to do, throw down and duke it out??
It's pretty obvious that this nation will go nowhere except reverse in the next four years. Whose to blame? How about both of them. The two party system which continues to drag this nation down the sewer drain because nobody wants to compromise with one another.
That is exactly my take on it. I'm all for cutting Military corruption spending, cleaning up fraud in Medicare and Medicaid but we're going to have to stop the tax cuts from Bush. We might as well do it now and get it over with.
@Souljah I actually agree. I just commented from a political standpoint that Obama has the GOP by the huevos. But I agree that they just let them all expire for right now. AND cut the loopholes for the rich so they actually pay the same percentage as you and I.
@jessejaymes yeah you definately hit it on the head, I just wanted to make sure my wording wasn't misconstrued... Now if we could only get everyone else to agree ..haha.. I wont hold my breath for that one though
Never will this yo ho has no mandate to do anything.The only one who thinks he does is him. What an empty suit and a waste of time. To the Cliff is what I say the hell with them all. Let er rip, put er in gear and run off the edge.
@Thunderchicken What I don't get is that the sequestration was a bi partsian deal made to raise the debt ceiling. The GOP said here's what we want to give you what you want and the Dems said deal. NOW both sides are saying WAIT! WAIT! We didn't mean it. We were just fooling around. Well we know they been fooling around in Congress since Eishenhower mostly. It was a bi partsian deal and most everyone signed on. If they don't let this happen then every damn person in congress who signed on should resign for being liars.