Sunday, November 23, 2008

A Taxing Problem

Turns out Obama has no intention of rolling back the Bush tax cuts just yet.
President-elect Barack Obama may delay the rollback of high-income tax cuts for the wealthiest Americans, two of his aides said Sunday.

The tax cuts were instated by President Bush and discontinuing them was a key promise of Obama's campaign for the presidency.

Obama's political strategist David Axelrod was asked by Fox News's Chris Wallace if the measure could be allowed to expire on schedule after 2010 and avoid an immediate repeal.

"Those considerations will be made," said Axelrod, who has been selected as Obama's senior White House adviser.

Bill Daley, an adviser to Obama and commerce secretary under former President Bill Clinton, said on NBC's "Meet the Press" that the 2010 scenario "looks more likely than not," Reuters reported.

The change in policy may suggest that Obama is wary of imposing more taxes during a financial crisis or that he is looking to boost Republican support for his recovery measures.
Or that the people running his financial program have no more idea how to fix the problem than the current occupants.

Obama has no need for the Left now. He's running for 2012 as a moderate Republican before he's even sworn in as a Democrat.

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