Obama to GOP: How do you pay for tax cut extensions?

[andym]

http://content.usatoday.com/communities/theoval/post/2010/11/obama-to-gop-how-do-you-pay-for-millionaire-tax-cuts/1

When President Obama and the Republicans meet this week to discuss the George W. Bush tax cuts, he will have a question for them about extensions for the wealthy.

"If they feel very strongly about it, then I want to get a sense of how they intend to pay for it," Obama told reporters yesterday as Air Force One made its way back from Asia.

Obama supports extending the tax cuts for the middle class, but raises a deficit objection for Americans who make more than $200,000 a year, and couples who make more than $250,000.

"I believe it is a mistake for us to borrow $700 billion to make tax cuts permanent for millionaires and billionaires," Obama said. "It won't significantly boost the economy, and it's hugely expensive. So we can't afford it."
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OK this is a smart strategy, use the GOP's supposed fiscal conservatism against them.

[mediaman007]

1. At least we know he might ask the tough question.

[polichick]

2. Yes, this is good! (As long as they don't cave in the end, of course.) nt

[TwilightGardener]

3. They haven't been willing to state what they wanted cut, specifically--

just general hair on fire about the deficit. Might be a good strategy, to try to pin them down and get them on record.

[bluestateguy]

4. Laying aside the policy merits (BAD) of a temporary extension of the taxcuts for the rich

It could end up being good politics, even though the policy merits are just plain bad.

Stay with me a moment before getting angry:

Taxcuts for those under $250K are made permanent, while taxcuts for the rich are extended until 2012.

2012. Yep, that 2012.

You know as well as I do that Republicans want those taxcuts to be made permanent. Now with the middle class tax issue settled, the other side will have to argue in favor of lower taxes for the wealthy and only the wealthy in the heat of a presidential campaign. The people will not support them. They won't be able to bundle the issue into lower taxes for the middle class.

Again, this is an argument based upon politics, not policy. I admit that.

[Hawkeye-X]

5. I posted over the weekend - They have to make a choice - cut the wars, or keep the tax cut permanent

Can't have it both ways.

That's Obama's ultimate move to force Republicans to expose themselves.

Hawkeye-X

[Vinca]

6. Grandma can eat cat food and go without heat. Easy to pay for them.

[Clio the Leo]

7. good article. nt

[veganlush]

8. prelude to a cave.

"i believe it is a mistake..." are not strong words. The dems have huge majorities in the lame duck. If the tables were turned, does anyone really believe that the repugnants would waste huge majorities in the lame duck?

[ChiciB1]

12. Well, So Far, They Haven't USED Much Of Anything... AND For That Matter I Haven't

seen much out of Obama to "think" he would DO BOLD! Even if what you are suggesting is even bold. I'd tell them WHAT'S good for America, stand by my PROMISE and say, I campaigned on this issue and I'm NOT willing to compromise!

But then I recall a song called "Dreamweaver" and it kind of reminds me of REALITY as it is today. That's how I see it, don't think there will be MUCH Standing Up for "we the people" by too many in the Administration OR The Congress. Dems OR Repukes!

JMHO!

[Lil Missy]

9. Well d'uh.

[craigmatic]

10. This won't work because he'll be arguing on their terms.

Their response will be that tax cuts pay for themselves because it'll get the economy going again.

[Cosmocat]

11. YEP ...

it does not matter that reality does not square to that point, it is what they say, and what the "liberal media" accepts as fact ...

When dealing with Rs, you have to state fact as fact, not ask them to advance whatever stunning bizarre false reality they have created ...

[Proud Liberal Dem]

13. But

if businesses are paying less taxes (or, in most cases, not even what they LEGITIMATELY owe), then the question is still valid: how are the tax cuts getting paid for in the end? :shrug:

[Proud Liberal Dem]

14. But I thought he already caved?

:wow:

I guess he hasn't.......yet.

[Kablooie]

15. That's easy. Cut out waste, Social Security and Medicare. See? Easy.