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Tag Archives: Bush tax cuts

Obama: Paying More Taxes is “Patriotic”

President Obama today said it was “patriotic” of “well-to-do Americans” to pay higher taxes.

Obama, who spoke at the White House, indicated the money would be used not just for paying down the deficit, but for broad new spending plans, which he termed “investments” in “things like” education:

Instead of the middle class paying more, we should ask the wealthiest Americans to pay a little more, a modest amount, so that we can reduce our deficit and still make investments in things like education that help our economy grow . . . And here’s the thing — there are a lot of well-to-do Americans, patriotic Americans, who understand this and are willing to do the right thing, willing to do their part to make this country strong.

Obama made the remarks during a short speech in which he called on Congress not to extend the Bush tax cuts for higher earners. A video of the appearance is below.

Paying more income taxes and having your money spent by the government is not normally associated with patriotism. Actually, Americans managed to show their patriotism without hardly paying income taxes at all until 1894, when the first permanent income tax was enacted.

Some people have another term for individuals who want to pay more taxes to a government that currently is spending at the highest share of GDP since World War II: Suckers.

Obama Says Tax on Wealthy is Really a Penalty

In an exclusive interview with White House Dossier early this morning at the White House, President Obama denied that he was proposing raising taxes on those making more than $250,000 per year, terming the idea a “penalty on success” instead. “Isn’t that what conservatives call it?” Obama snickered. “So, there you go.” Obama, who was… Continue Reading

CNN: Obama Tax Plan Will Cut GDP by One Percent

CNN is reporting that President Obama’s proposal to raise taxes on the highest earning Americans could take a one percent bite out of GDP. Interestingly, the reporter, Erin Burnett, is a former leading reporter for CNBC and one of the few news anchors who actually understands economics. Soaking the rich will harm the poor. With… Continue Reading

Biden Considers his $379K Income Middle Class

Vice President Biden thinks he’s in the middle class, even though his income far exceeds the $250,000 threshold President Obama set for raising income taxes on the rich. According to his 2011 tax returns, Biden and his wife Jill had an adjusted gross income of $379,000 last year. And that, Biden siggested Tuesday in remarks… Continue Reading

Obama Tax Hike Would Slam 620,000 Small Businesses

At least 620,000 small businesses would see their taxes go up if President Obama’s plan to to raise taxes on those earning more than $250,000 goes into effect, according to statistics based on the White House’s own estimates. President Obama is hoping to minimize the PR fallout from his proposal to allow the Bush tax… Continue Reading

Obama Announces He’s to the Left of Pelosi

Updated at 12:37 pm ET There’s not much room over there, but President Obama found it. President Obama today announced that he supports a one-year extension of the Bush tax cuts for those making under $250,000, a plan that puts him at odds with House Minority Leader Nancy Pelosi (D-Calif.) and Sen. Chuck Schumer (D-N.Y.), each… Continue Reading

Obama’s Huge Tax Bill Victory

House Democrats stopped flailing against the tax bill long enough Thursday night to pass it, sending the measure to President Obama for a signing ceremony today that should be preceded by a victory dance at the Kennedy Center’s Eisenhower Theater. President Clinton and Dick Morris sent telegrams to the president early Friday morning congratulating him… Continue Reading

House Dems Will Allow Obama-GOP Tax Deal

As I said they would last week, House Democrats are now bowing to reality and are preparing to swallow the Obama-GOP deal to extend all the Bush tax cuts, even for greedy rich people. Forcing taxes to rise on everyone as a 2010 Christmas present to the country would have resulted in Republican majority status… Continue Reading

Bill Clinton Returns to the Podium

Well, there he was again. Bill Clinton was back at the White House, and somehow he made his way to the briefing room to hold forth for more than a half an hour with reporters, with President Obama beside him for part of the time. I’m sure he “offered” to go out into the briefing… Continue Reading

Albany PTA Chairwoman Backs Tax Cut Deal

In one of the oddest pressure tactic campaigns I’ve seen in Washington, the White House is releasing dozens of statements of support from local officials praising the agreement with Republicans to temporarily maintain the Bush tax cuts. Here’s the latest mayor to hop aboard, in a statement released at 5:00 pm: Des Moines Mayor Backs… Continue Reading

House Dems Reject Obama Deal With GOP

The House Democratic Caucus has voted to reject President Obama’s deal with Republicans on extending the Bush tax cuts, throwing the issue and Obama’s vacation into uncertainty. House Speaker Nancy Pelosi will not put the agreement on the floor until it is changed in some unspecified manner. Speaking this afternoon to reporters, White House Press… Continue Reading

You Bet the Democrats will Pass the Tax Deal

The Hill is reporting that momentum is building in the Senate in favor of the Bush tax deal. Well, of course it is. Obama has the Democrats completely cornered. All the whining on Capitol Hill about  allowing the rich to keep their tax cuts has been extremely entertaining, but it will soon be squelched by… Continue Reading