Obama will stick to tax promise, his aides say

[babsbunny]

Obama will stick to tax promise, his aides say

http://www.latimes.com/news/nationworld/nation/la-na-obama-stimulus29-2008dec29,0,6138635.story

Advisors David Axelrod and Lawrence Summers also make the case for a new stimulus package that could exceed $775 billion and that would include a portion of a middle-class tax cut.
By Peter Nicholas
December 29, 2008
Reporting from Washington -- President-elect Barack Obama's top advisors said Sunday that they wouldn't back away from a promise to cut taxes on the middle class and raise them for the wealthiest Americans, as they made the case for a massive new stimulus package geared toward reviving the slumping economy.

Speaking on Sunday talk shows and in a newspaper opinion piece, Obama aides stepped up a drive to build a broad political consensus behind Obama's core economic proposals: A two-year spending package that could exceed $775 billion, coupled with tax policies weighted in favor of the middle class.

[Sarah Ibarruri]

1. I hope, that's all I can say nt

[BeFree]

2. That can't be right

I saw here on DU some posts claiming that he wasn't gonna tax the rich, switching from what he said in the campaign.

Now who am I too believe: Obama aides or some DU posts?

[Statistical]

6. From the article

Of Obama's promise to raise taxes on wealthy households, Axelrod said, "the question is on the Bush tax cuts for the very wealthiest Americans and it's something that we plainly can't afford moving forward. And whether it expires or whether we repeal it a little bit early we'll determine later, but it's going to go. It has to go."

The taxplan has two parts
1) lower tax for middle class & poor
2) raise taxes on rich (>$250,000) by repealing the portion of Bush tax cuts

Looks like Obama is all set to pass the first part promptly.

Now the talk for the second half is shifting towards letting them expire instead of repealing them.

Rich won't see taxes rise $0.01 until 2011 if that happens.

[Sarah Ibarruri]

7. Let's wait and see what he does nt

[ErinBerin84]

3. yes

David Gregory was OBSESSED with this question...and kept saying over and over "BUT ISN'T THAT A TAX INCREASE?!" , when Axelrod was like "No, it's a NET tax cut!" Obviously, Gregory cares much more about the tax issue than he does asking Condi questions on torture.

[lonestarnot]

4. woohoo.

[Idealism]

5. Yay for principles