President Obama outlined the “framework” of a deal with congressional leaders for a temporary extension of the Bush-era tax cuts in all income tax brackets, a compromise that he said would avert the “chilling prospect” of a tax increase next month for all Americans.
Obama, at a White House news conference Monday evening, renewed his calls for tax relief targeting the middle class and his criticism of making tax cuts for the wealthiest Americans permanent.
But in the end, he said, a compromise must be reached before the Bush-era tax cuts expire at the end of the year, or else ordinary Americans would become “collateral damage for political warfare in Washington.”
“I am not willing to let that happen,” he said.
Obama outlined a deal with congressional leaders that would extend the expiring tax cuts for all Americans temporarily for two years. Unemployment benefits for long-term jobless would through next year. The estate tax rate would be renewed at the previously lower rate temporarily.
The Obama administration also is proposing a one-year payroll tax reduction that sources say would cut the amount contributed to Social Security from 6.2 percent to 4.2 percent.
“I have no doubt that everyone will find something in this compromise that they don’t like,” he said, but “we cannot play politics at a time when the American people are looking for us to solve problems.”
Yeah, because we know he’s so above playing politics at a time when the American people he claims to want to keep from being “collateral damage” are suffering the most – oh, you know, like when he spent the first year of his administration focusing primarily on getting the ObamaCare monstrosity shoved through the House and Senate, and like when he’s talked enthusiastically (not!) about extending the Bush tax cuts over the last several months in an effort to encourage businesses to create jobs and people to spend money, and …
Well, you get the picture.
A hero he is not. The best way for the government to be a “hero” during hard economic times (and for that matter, even when economic times are good) is not to promote policies that make it harder for businesses to invest, and that keep the American people from spending money on goods and services. But telling that to an administration that believes that government is the answer to everything is sort of like telling a child who wants everything that money doesn’t grow on trees: You can emphasize it until you’re blue in the face, but they won’t believe it until they’ve grown-up and matured. Of course, with children, there’s a strong likelihood that they’ll grow-up and mature. Liberals, on the other hand? A different story altogether.