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It was billed as a major announcement on taxes, but President Barack Obama didn’t say anything new: he wants to extend the Bush tax cuts for those earning less than $250,000 a year while letting them expire for the upper income earners. He is challenging congressional Republicans to act now — all the tax cuts expire in January absent congressional action — so he can pose as a middle-class tax-cutter and proponent of tax fairness.
The real question is what Obama would do come January if Congress sends him a renewal of the full tax cut. Would he veto it and let taxes go up on everyone? Or would he once again agree to extending all the tax cuts like he did at the end of 2010? Naturally, the president is trying to avoid that scenario with a congressional vote now, though his deficit reduction plans add up better if he lets taxes go up on everybody.
While polls suggest Obama’s tax fairness argument has some takers among the American people — and make no mistake, it is purely a fairness argument; the deficit reduction case for allowing only the tax cuts on the wealthy and investors to expire is weak — Democrats are divided too. House Minority Leader Nancy Pelosi wants to move up the threshold at which the cuts expire to $1 million a year. Some Democrats want all the tax cuts to expire, while others want them all extended. Obama’s attempt to thread the needle is nothing new.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?
H/T to National Review Online