Obama Buckles On Bush Tax Cuts RIGHT AFTER His Deficit Commission Recommends CUTTING SOCIAL SECURITY

[Segami]

" We have reached a critical tipping point with the Obama administration following the disastrous midterm elections.

The early reports from the two co-chairs of Obama’s deficit commission are in and they don’t look pretty. The plan released by Democrat Erskine Bowles and Republican Alan Simpson recommends limiting yearly cost-of-living increases to the rate of inflation, instead of wage growth.

The cut in annual increases would affect current retirees.

Their benefits would go down by about 3 percent after they’ve been retired for 10 years, and about 6 percent after they’ve been retired for 20 years.

Their plan would also raise the retirement age to 68 around 2050 and 69 around 2075.



But the madness doesn’t end there.

The plan released by the deficit commission would also cut taxes for the rich by cutting the highest tax bracket from 35% to 23%, and the corporate tax rate from 35% to 26%. That’s not a typo; the plan to cut the deficit is to cut taxes further for the rich.


But we are just getting warmed up…

In order to pay for cutting taxes for the rich even more, the plan eliminates the Earned Income Tax Credit (EITC). EITC creates an incentive for the poor to work, while offsetting the punitive effects of the regressive payroll tax.

This is literally a reverse Robin Hood scenario. Unlike the government, Robin Hood would not go around “robbin’ the hood’” (bad joke…).

The plan also hurts veterans by adding co-pays to the Veterans’ Administration and TRICARE, while freezing the pay of noncombat military for three years.

Let’s step back for a second and remember why the national debt has more than doubled in the past ten years. In a excellent statement responding to this detestable plan, Bernie Sanders points out the obvious: “…the huge increase in the national debt in recent years was caused by two unpaid wars, tax breaks for the wealthy, a Medicare prescription drug bill written by the pharmaceutical industry, and the Wall Street bailout.”

But rather than focus on the defense contractors, the drug industry, the Wall Street bankers, and the tax cuts for the wealthy that got us into this mess in the first place; the two co-chairs of Obama’s deficit commission have decided to target the poor, the middle class, the elderly, and the veterans.

All of this came before the wonderful breaking news that Obama has just buckled on the Bush tax cuts for the wealthy, which will blow another $700 billion dollar hole in the budget.

Enough is enough, it is time to go to war, it is time to fight back.

This is not about cutting the deficit, or fiscal responsibility, or what is best for the country anymore.

This is no longer about Democrats and Republicans or liberals and conservatives. This is about power and who really has it in Washington. If Obama follows through on the recommendations made by Bowles and Simpson, if Obama sells out the poor, the middle class, the veterans, the elderly, all to protect corporate America and the wealthy people who run it, if he slashes benefits that average everyday Americans suffering through this recession rely on for their survival, while still cutting taxes for the wealthy in the name of “fiscal responsibility”, it is time to make a change.

It might be time to start thinking about a primary opponent for Barack Obama and I know an ex-Governor from Vermont and an ex-Senator from Wisconsin who would make great candidates.

<http://www.alan.com/2010/11/11/obama-buckles-on-bush-ta... >

.

[ProSense]

1. That's really hard to read, but here

Via Greg Sargent:

Axelrod emails:

There is not one bit of news here. I simply re-stated what POTUS and Robert have been saying. Our two strong principles are that we need to extend the tax cuts for the middle class, but we can't afford a permanent extension of the tax cuts for the wealthy.

And White House comm director Dan Pfeiffer adds:

The story is overwritten. Nothing has changed from what the President said last week. We believe we need to extend the middle class tax cuts, we cannot afford to borrow 700 billion to pay for extending the tax cuts for the wealthiest Americans, and we are open to compromise and are looking forward to talking to the Congressional leadership next week to discuss how to move forward. Full Stop, period, end of sentence.

[RUMMYisFROSTED]

2. We'll see.

I have a pretty good idea, though.

[truebrit71]

9. I believe that non-denial denial as much as you should believe that I had a 3way with Salma Hayek...

...and Cindy Crawford last night...

They will cave, as they always will, and we ALL get fucked, as we always do..

[jaxx]

10. Funny how rightwing rumors become fact when the pundits run

around with their hair on fire, isn't it? Thank goodness there are still some sensible ones left who are on the left. As your link says.....not one bit of news.

[laughingliberal]

18. We'll see. nm

[BridgeTheGap]

3. Time for U.S. workers to go "french style!" n.t

[daleanime]

4. Definitely need to keep all options open....

which we learned from our 'leaders'.

[Segami]

5. It takes real passion to collectively stand up and be heard.

[OHdem10]

6. Obama can count. The House is GOP. In the Senate the

DLC, Blue Dogs are the Swing Vote. How many of them would
vote with McConnell????? If Obama knows he does not have
the votes why drag out the pain and embarassment to himself.

Watch the Blue Dogs and DLCers.

[dflprincess]

43. Better Obama avoid pain and embarassment to himself

than risk fighting for what's best for the country.

[SidDithers]

7. Unrec...nt

Sid

[Gold Metal Flake]

11. Rec...nt

[truebrit71]

13. Rec x2...nt

.

[Marr]

16. Rec... n/t

[xiamiam]

27. rec.nt

[bullwinkle428]

28. Rec! Hey, I wonder how I got to do that twice?

[grahamhgreen]

37. C'mon! Look at where he is taking the country - to neocon Heaven, ie Hell.

[Number23]

42. I love the way you just drive 'em crazy, Sid. Must be your cologne.

[FSogol]

8. The tax buckling you are referring to has already been debunked.

and you've been told this in a dozens posts already this morning.

[truebrit71]

12. "Open to compromise" = the wealthy keeping their tax cuts...

..bet on it..Obama neither has the stones, nor the backing to tell the rich to fuck off...

[laughingliberal]

19. +1000 nt

[Name removed]

14. Deleted message

Message removed by moderator. Click here to review the message board rules.

[FSogol]

15. Yup, days like today really show that it must be true. n/t

[laughingliberal]

21. Let's bookmark this & review it after we see what happens. Then we can decide who's being paid. nt

[Segami]

22. +1

[Name removed]

17. Deleted message

Message removed by moderator. Click here to review the message board rules.

[tammywammy]

20. Axelrod Denies Obama Would Concede Tax Cuts

Axelrod Denies Obama Would Concede Tax Cuts

Senior White House adviser David Axelrod said this morning that President Obama has not caved to GOP demands on the extension of the Bush tax cuts, despite a report to the contrary.

“We're willing to discuss how we move forward,” Axelrod said in an e-mail to National Journal rebutting the Huffington Post story, “but we believe that it's imperative to extend the tax cuts for the middle class, and don't believe we can afford a permanent extension of tax cuts for the wealthy.”

The Huffington Post reported this morning that Axelrod suggested that “the administration is ready to accept and across-the-board continuation of steep Bush-era tax cuts, including those for the wealthiest taxpayers.”

In the article, Axelrod is quoted as saying, “We have to deal with the world as we find it.”
-snip-

http://nationaljournal.com/budget/axelrod-obama-will-co...

[laughingliberal]

23. Here's the translation:

<Senior White House adviser David Axelrod said this morning that President Obama has not caved to GOP demands on the extension of the Bush tax cuts,> yet

<“but we believe that it's imperative to extend the tax cuts for the middle class, and don't believe we can afford a permanent extension of tax cuts for the wealthy.”>

Operative word is 'permanent.' They're gonna extend them and kick it down the road. Ironically, the CFC will be screaming we have to make draconian cuts to SS/Medicare/Medicaid/VA screaming how we can't keep kicking this down the road.

[ProSense]

25. Here is the

reality

[laughingliberal]

32. LBL/DF. nt

[chill_wind]

33. Yep. DLC supports an extension of the Bush Tax Cuts

A one-year (for now).

http://www.democraticunderground.com/discuss/duboard.ph...

[laughingliberal]

36. Thanks. nt

[chill_wind]

39. That's why we're getting all the advocacy

for "reality and compromise."

[laughingliberal]

41. Does seem that way, yes. nt

[gratuitous]

24. "Axelrod Denies"

But in the text of his comments, I don't read any "denial." He said we can't affort a permanent extension of tax cuts for the wealthy, but that's not quite the same as saying the President would veto any bill that extended tax cuts for the wealthy. Axelrod concedes that we can't afford to extend tax cuts for the wealthy, but he doesn't quite get to the point of saying that the President isn't conceding the tax cuts for the wealthy.

And if those cuts are "temporarily" extended for two years, they might as well be permanent for the foreseeable future, and if Axelrod and President Obama don't understand that, they're as dumb as their harshest critics think they are.

[glitch]

29. They apparently don't think we're capable of parsing their weasel words.

What kind of echo chamber are they living in?

[Poboy]

26. recommend.

[Arkana]

30. More alarmist bilgewater from the Chicken Little Brigade.

[gratuitous]

40. I'm willing to put my money where my mouth is

Betcha $10, payable to DU as a donation, that a "temporary" extension of all the tax cuts gets passed for two years.

Wanna bet against bilgewater from a self-professed chicken little? Come on. You know you're right, and DU will take my money gladly. You got nothin' to lose, and you're very sure of your position. Come on.

[bvar22]

31. The Kabuki Theater has been well choreographed....

The scripts have been well written.
The actors have been cast & rehearsed.
The timing excellent.
The marketing has been superb.

Hope & Change was one of the best marketing scams ever.



"They" WON!!!

[BrklynLiberal]

34. I am truly sick to my stomach......

[Name removed]

35. Deleted sub-thread

Sub-thread removed by moderator. Click here to review the message board rules.

[Name removed]

38. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Catherina]

44. Rec'd. Thanks for bolding. n/t