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**wonceinee** · 12-09-2010, 04:13 AM

Looks like Comrade Obama is the ONLY Liberal that learned anything from that "Shellacking" on November 2nd. Who would have thunk it?

http://washingtonexaminer.com/politi...ax-cut-reality

While his base rages, Obama faces tax-cut reality

By: Michael Barone 12/07/10 8:05 PM
Senior Political Analyst

Reality strikes. President Obama spurned the advice of columnists Paul Krugman and Katrina vanden Heuvel and agreed with Republicans to extend the current income tax rates -- the so-called Bush tax cuts -- for another two years.

He got a few things in return, primarily extended unemployment benefits for another 13 months, and agreed as well to a 2 percent cut in the Social Security payroll tax.

But he recognized the reality that in order to prevent a tax increase on those with incomes under $250,000 he had to prevent a tax increase on those over that line as well.

This has infuriated liberal Democrats like outgoing Speaker Nancy Pelosi, D-Calif., but they share some of the blame themselves. They probably could have passed their version of the tax bill earlier this year, before the economic recovery stalled in the spring.

But with the economy faltering, there's a strong argument against raising anyone's taxes -- strong enough to have persuaded many congressional Democrats.

Obama had to abandon his goal of raising taxes on high earners not because Republicans opposed it but because not enough Democrats supported it. Pelosi couldn't summon up a majority on the issue back in September, and Harry Reid could get only 53 of the needed 60 votes this month.

12-09-2010, 04:13 AM	#10
wonceinee Join Date Oct 2005 Posts 435 Senior Member	Looks like Comrade Obama is the *ONLY* Liberal that learned anything from that "Shellacking" on November 2nd. Who would have thunk it? http://washingtonexaminer.com/politi...ax-cut-reality While his base rages, Obama faces tax-cut reality By: Michael Barone 12/07/10 8:05 PM Senior Political Analyst Reality strikes. President Obama spurned the advice of columnists Paul Krugman and Katrina vanden Heuvel and agreed with Republicans to extend the current income tax rates -- the so-called Bush tax cuts -- for another two years. He got a few things in return, primarily extended unemployment benefits for another 13 months, and agreed as well to a 2 percent cut in the Social Security payroll tax. But he recognized the reality that in order to prevent a tax increase on those with incomes under $250,000 he had to prevent a tax increase on those over that line as well. This has infuriated liberal Democrats like outgoing Speaker Nancy Pelosi, D-Calif., but they share some of the blame themselves. They probably could have passed their version of the tax bill earlier this year, before the economic recovery stalled in the spring. But with the economy faltering, there's a strong argument against raising anyone's taxes -- strong enough to have persuaded many congressional Democrats. Obama had to abandon his goal of raising taxes on high earners not because Republicans opposed it but because not enough Democrats supported it. Pelosi couldn't summon up a majority on the issue back in September, and Harry Reid could get only 53 of the needed 60 votes this month.
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