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If Re-Elected, President Obama Would Raise Taxes For Middle Class

Let’s say President Obama soundly defeats the GOP in November and he hunkers down for a second term. If that happens, some critics think he will allow all of the Bush tax cuts to expire. All of them. Arguably, this would lead to a increase in taxes on the middle class.

Noam Scheiber, author of The Escape Artists: How Obama’s Team Fumbled the Recovery, thinks there’s reason enough to suspect the president would allow this to happen.

What’s even more unpleasant than the thought of tax increases during this time of economic stagnation is the fact that the White House originally floated this idea back in 2009.

According to Scheiber (via The Daily Beast):

In the fall of 2009, Obama’s chief congressional lobbyist, Phil Schiliro, touted a clever idea for dealing with the tax cuts: introduce a bill that would extend the middle-class cuts for two years while allowing the upper-income portions to expire. After two years, the middle-class cuts would also expire unless Congress paid for them with offsetting savings or tax increases.

By November 2009, Orszag [the former Director of the Office of Management and Budget] had become so fond of the idea that he insisted on presenting it to the president in the Oval Office. Orszag’s fellow wonks were cool to the plan, having heard him and Schiliro sing its praises repeatedly. But the administration’s chief wonk—Barack Obama—was intrigued. He asked a series of encouraging questions about how the proposal would work. According to two sources in the room, he was taken with both the political merits—that is, putting Republicans on the defensive—and the policy rationale of lopping trillions off the deficit. He gave no indication that he was troubled by the plan’s most explosive feature: that it would likely break a central campaign promise—not raising taxes on the middle class—one Republicans would surely wrap around his neck with populist glee.

So let’s say President Obama is reelected. What happens when these tax cuts come up again? He doesn’t have to fear losing an election. He doesn’t need to worry about appealing to moderates. Simply put, “the chance to let the Bush tax cuts lapse may simply be too tempting to pass up,” Scheiber writes.

And the implications could be devastating.

“Were this to happen, 2013 really could be the brutal year of fiscal contraction people have been fearing,” writes Business Insider’s Joe Weisenthal.

“And even if nothing happens, it’s depressing to think that in 2009, when things were going horribly for the economy, there was a serious discussion of tax hikes and deficit reduction at the highest levels of government.”


Added: Mar-3-2012 Occurred On: Mar-3-2012
By: aranger45
In:
Politics
Tags: If, Re-Elected, President, Obama, Would, Raise, Taxes, For, Middle, Class
Location: New York, New York, United States (load item map)
Views: 3178 | Comments: 40 | Votes: 3 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
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  • Presuming that we even have an election.

    Posted Mar-3-2012 By 

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  • Comment of user 'T0M65' has been deleted by author (after account deletion)!
  • Comment of user 'StopTheCancer' has been deleted by author (after account deletion)!
  • Thanks to the theocratic GOP, Obama will certainly win.

    Posted Mar-3-2012 By 

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    • @GiygasFetus
      The republican candidates recognize the U.S. Constitution protects God given individual rights and liberties from government intrusion. The first Amendment to the Constitution protects religion from government intrusion. (BTW, did you know 17 U.S. Presidents were preachers/ministers/clergy?)
      You need not be afraid of alleged theocratic GOP candidates. They know their limits.
      And you should be concerned about those who would have you fear the religious beliefs of the candidates More..

      Posted Mar-3-2012 By 

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    • @trialdog Typically people fear the religious because they are the only group of people in America who ROUTINELY seek to strip others of their rights. And just like yourself they all claim that somehow their insistence that others should have less rights is supported by the first amendment. You can't rationalize with that kind of logic. It is shameful.

      Posted Mar-3-2012 By 

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    • @trialdog And if the GOP had any sense of rationality they would drop the religious shit, I bet they would win more elections.

      And who, by the way, are the people that "want" me to fear the religious? I have disliked religion since the age of 6 after my first discussion with adults regarding the literacy of the Christian bible and the ark story. I don't understand why you think im being manipulated to not like religion. The truth is, my 6 year old self asked questions that were too to More..

      Posted Mar-3-2012 By 

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  • Comment of user 'crassmockery' has been deleted by author (after account deletion)!
    • Comment of user 'crassmockery' has been deleted by author (after account deletion)!
    • Comment of user 'crassmockery' has been deleted by author (after account deletion)!
    • @crassmockery
      Crass, you live up to your name. The "cuts" Obama proposed are breaks on Social Security taxes - thus, Obama raided Social Security to allow people a few bucks a week. You know, those funds have to be paid back. And the article does not mention how the crass Obama intends to recoup the money for social security.
      What the article shows is how the Obamunists scheme and plot against the American people constantly. You should stop trying to cover for them - unless it i More..

      Posted Mar-3-2012 By 

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    • Comment of user 'crassmockery' has been deleted by author (after account deletion)!
    • @crassmockery
      Crass, my comment was not about me. I did not mention what I think about taxes. I responded to your comment so readers would know where Obama's "tax break" came from. It came from their children.
      You should not try to evade the truth trying to turn the issue to me.
      Here's some additional facts for you Crass. 50% pay no taxes. 20% work directly or indirectly for the government. That leaves 30% to pay all the bills.
      My thinking Crass. Unless you are in the 30%, yo More..

      Posted Mar-3-2012 By 

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  • And if the Republicans win, there won't be a middle class at all.

    Posted Mar-3-2012 By 

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  • Obama wants to steal from those who work and give to those whose only job is to vote for him five times in five places.

    The goal is to turn the productive into slaves and the worthless street vermin into the overseers. You democrat cocksuckers are playing with fire. As usual, you're too fucking stupid to know it, but that's exactly what you're doing.

    Posted Mar-3-2012 By 

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    • @TheMule Its not that Obama is doing so well, its that your GOP candidates are actually that bad. Sorry you are too stupid to know it.

      Posted Mar-3-2012 By 

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    • Comment of user 'crassmockery' has been deleted by author (after account deletion)!
    • @crassmockery ,

      By allowing the national debt to run up to astronomical proportions, Obama has guaranteed that I and everyone else with two pennies to rub together in the US is going to get ass raped by taxes within the next ten years.

      Posted Mar-3-2012 By 

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    • @stevecore ,

      First of all, don't say "your candidates". The republicans aren't "my candidates". And I can't argue with you that they aren't pretty fucking sad because they are, but so is Obama. He is a dour, doctrinaire, dishonest, hypocritical, narcissistic, arrogant fucking prick.

      Posted Mar-3-2012 By 

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    • Comment of user 'crassmockery' has been deleted by author (after account deletion)!
  • Blah blah. The same was said about his first term. I, and you, pay less taxes than ever.

    But he is a muslim.

    Posted Mar-3-2012 By 

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  • The truth is that no matter who is elected this year; I can not see how we can not raise taxes on some (if not all) of us. The analyst have spoken and the thing the media and ALL of the politicians are avoiding is that no amount of cuts gets us to a level where we are spending down our debts. That means taxes will have to increase and we have until December 2013 to do it or default. It is unavoidable and politicians know we don't want to hear it, but its the truth.

    Raising the debt ceiling More..

    Posted Mar-3-2012 By 

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    • Comment of user 'htos1' has been deleted by author (after account deletion)!
  • If you are a real man : defeat ogaga
    If you are a lib : suck him

    Posted Mar-4-2012 By 

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  • Comment of user 'htos1' has been deleted by author (after account deletion)!
  • The only way barry seotoro will get another term is if Ron Paul runs as a third party candidate and split the republican vote ! ! !

    Posted Mar-3-2012 By 

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  • Or...........
    reagan could come back from the dead, resurrect ted kennedy and have a love child with him that would grow exponentially fast and become the next President who would want to cut and raise taxes at the same time and the discrepancy would make his head explode and there you have it.
    The first time in American history that a presidents head spontaneously explodes.
    That is just as valid as this article.

    Posted Mar-3-2012 By 

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    • @Tongueboy
      Whoa, don't mention Reagan, again. He raised taxes seven times!!! , and opened the door to send American jobs right out of the country forever. -They call him the great Ron.....

      Posted Mar-7-2012 By 

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  • obango does not have an ice cube chance in he11 of being reelected.

    Posted Mar-4-2012 By 

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