Well, duh, he is a liberal and a Democrat. He does believe in class warfare. Remember you Republicans and Libertarians that voted for him. (You know who you are…)
Via the NYT:
WASHINGTON — President Obama on Wednesday will make clear that he opposes any compromise that would extend the Bush-era tax cuts for the wealthy beyond this year, officials said, adding a populist twist to an election-season economic package that is otherwise designed to entice support from big businesses and their Republican allies.
Mr. Obama’s opposition to allowing the high-end tax cuts to remain in place for even another year or two would be the signal many Congressional Democrats have been awaiting as they prepare for a showdown with Republicans on the issue and ends speculation that the White House might be open to an extension. Democrats say only the president can rally wavering lawmakers who, amid the party’s weakened poll numbers, feel increasingly vulnerable to Republican attacks if they let the top rates lapse at the end of this year as scheduled.
It is not clear that Mr. Obama can prevail given his own diminished popularity, the tepid economic recovery and the divisions within his party. But by proposing to extend the rates for the 98 percent of households with income below $250,000 for couples and $200,000 for individuals — and insisting that federal income tax rates in 2011 go back to their pre-2001 levels for income above those cutoffs — he intends to cast the issue as a choice between supporting the middle class or giving breaks to the wealthy.
In a speech in Cleveland on Wednesday, Mr. Obama will also make a case for the package of roughly $180 billion in expanded business tax cuts and infrastructure spending disclosed by the White House in bits and pieces over the past few days. He would offset the cost by closing other tax breaks for multinational corporations, oil and gas companies and others.
While the speech will be centrist in its policy prescriptions other than the Bush tax cuts, Mr. Obama’s language will be partisan as he seeks to sharpen the contrasts between Republicans’ record and efforts by Democrats to create more jobs, aides said.
As much as I would like to jump up, holler and raise a fuss about this; I cannot. We all knew that this was coming. This should be a lesson to the Republican Party. That is, do not run weak or moderate Conservatives during elections. Because when you do; Conservatives, and I mean hardcore Conservatives will not vote — and this is what you get. I know that I, personally, will not be affected by this; neither will my family.
However, I am sure that there will be some families affected by this — not to mention a myriad of business owners out there. This will, I am sure, cause a downtown in hiring by businesses; which will add to the huge downturn in the economy. It is all a domino effect, starts at the top and goes to the bottom.
Another thing to think about; we do have to eventually pay for these two wars. I believe that those who profited off of both of these wars ought to be targeted for taxing. I believe that a special “War Tax”, ought to be appended to anyone making over $500.000 or more a year. I would target multinational companies, like oil companies and so forth. Especially those in Iraq. Perhaps next time, the warmongering class will not be so eager to start a war next time. This taxing would reinforce the idea that those wanting said war, should they actually have to pay for it. Foreign Policy has a price tag; and those who want follow Woodrow Wilson’s steps, should be required to pay that price tag.