Obama’s tax policy is…what?

Robert Gibbs Confirms Obama is Committed to Letting Bush Tax Cuts Expire

Freedom’s Lighthouse

Just what the U.S. Economy needs – tax increases on the very people who own businesses and create jobs. Robert Gibbs confirms that Barack Obama is committed to letting the Bush Tax Cuts expire, thus raising taxes, particularly on many of the small business owners who make $250,000 or more. In their world, soaking the “rich” with higher taxes helps the middle-class. Even reporter Candy Crowley seemed incredulous that is the economic strategy they plan on pursuing.

But today:

Report: President Obama to Announce Support for Partial Extension of Bush Tax Cuts; Still Committed to Raising Taxes on People making $250,000

President Obama will reportedly announce his support for a partial extension of the Bush Tax Cuts later this morning. But he is determined to raise taxes on people making $250,000 or more, a position that puts him at odds with Republicans and with some key leaders in his own party:

NEW YORK TIMES: With a torpid job market and a fragile economy threatening his re-election chances, President Obama is changing the subject to tax fairness, calling for a one-year extension of the Bush-era tax cuts for people making less than $250,000.

Mr. Obama plans to make his announcement in the Rose Garden on Monday, senior administration officials said. The ceremony comes as Congress returns from its Independence Day recess, and as both parties and their presidential candidates head into the rest of the summer trying to seize the upper hand in a campaign that has been closely matched and stubbornly static.

House Republicans plan to vote this month to extend permanently all of the Bush tax cuts, for middle- and upper-income people.

The president’s proposal could also put him at odds with Democratic leaders like Representative Nancy Pelosi of California and Senator Charles E. Schumer of New York, who have advocated extending the cuts for everyone who earns up to $1 million. And it will most likely do little to break the deadlock in Washington over how to deal with fiscal deficits, an impasse that has only hardened as Republicans sense a chance to make gains in Congress this fall. . . . Read More

Update: Obama will call for extension of Bush tax cuts for almost everyone

Update 2: Obama’s Plan to Tax the Rich Until They Become Middle Class From PJTV’s Scott Ott

Update 3Harry Reid Won’t Commit To Bringing Obama Tax Hike To Senate Floor For A Vote…

Steny Hoyer says he’d be willing to raise taxes on people making less than 250k in the future

Rush: Obama moving right to win. Limbaugh believes his call for tax-cut extensions is an attempt to woo the right before November.

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