Obama Doesn’t Compromise on Taxes, He Caves

Tuesday, December 7, 2010

President Obama’s transformation is complete. He’s now a cardcarrying member of the GOP Country Club.

In case you missed the Kabuki theater yesterday, Mr. Obama caved to Republican congressional leaders “on a broad tax package that would extend the Bush-era income tax cuts for two years, reduce worker payroll taxes for one year and give more favorable treatment to business investments,” according to the Wall Street Journal.

The package Mr. Obama is cooing about includes a reduction in the Social Security payroll tax from the current 6.2% to 4.2%, setting the estate tax rate at 35% for two years, exempting the first $5 million in estate value from tax liability, and extending unemployment benefits to 2 million Americans for the next 13 months but doesn’t address the four million others who face the end of their benefits next year.

Obama’s “compromise” will add hundred-of-billion to the ballooning Federal deficit.

And while the president’s “compromise” was largely praised by his “friends across the aisle,” Republican approval comes at a price: the loss of support from his base — what little of it remains.

According to the New York Times, “This is just the latest and most outrageous betrayal in what it sees as a two-year cycle of caving to conservative pressure and Republican obstructionism. The litany from the left is now familiar: Mr. Obama was too modest in his stimulus package, too afraid to fight for a government-sponsored option in his health plan, too deferential to Wall Street in his financial reforms, too weak to stand up to the generals on Afghanistan.”

Norman Solomon, a leader of Progressive Democrats of America points out,“ Obama may have just ensured that he’ll face a significant challenge to his renomination in 2012 from inside the Democratic party. By giving away the store on such a momentous tax issue, he has now done huge damage to a large portion of the progressive base that helped to make him president.”

What President Obama fails to understand about the nature of politics is, leadership is rewarded, but weakness is punished. Just ask Jimmy Carter.

This entry was posted in Democrats, News, Politics, President Barack Obama, Republicans, Worst President Ever and tagged , , , , , . Bookmark the permalink.

14 Responses to Obama Doesn’t Compromise on Taxes, He Caves

  1. Mets Fan says:

    Extending the Bush era tax cuts to Americans earning more than $250,000 a year will add another $700 billion to the budget deficit.

    This is equal to the controversial Obama stimulus package that had the Republicans ready to impale Obama on the long knives.

    So at a time when everyone from Dianne Feinstein to Mitch McConnell and Nancy Pelosi to John Boehner say reducing the budget deficit is a top priority, tell me again how extending the Bush era tax cuts to Americans earning more than $250,000 a year is sound fiscal policy?

  2. MichaelTAtheist says:

    Ok Barrack……………. back out to the barn with the other SLAVES now…..

  3. Scott Dancer says:

    President Obama is a fool. Now, he’s shown the GOP when push comes to shove he will cave. Not on the small, insignificant things but on the large issues that defined his 2008 campaign.

    It is fiscally irresponsible to extend the Bush era tax cuts. Obama and his economic team must understand this better than any of us, so I am left to conclude yesterday’s festivities were all about politics and CYA.

    Obama has lost control of his presidency. The far and center left is through with him, the independents have written him off, white men and Hispanics and of course, the LGBT community have moved on.

    2012 promises to be another Democratic bloodbath thanks to Obama.

  4. MichaelTAtheist says:

    The only thing left to do with this former slave is to tie him up to a post and whip him……………….. Hey! Obamascum, if you had your head jammed any further up Republican asses, you’d completely disappear! Do the Brave thing, Oh, sorry for asking……. Drop out now! Pull a Sarah Palin. You’re taking up valuable space, where an actual leader should be living. I wouldn’t vote for you again if you were the last man on the Planet! Now I know where your brown color comes from…… You were dipped in shit during your childhood……………

  5. Rachel says:

    And to think, in 2008 we thought we were getting some combination of John F. Kennedy and Martin Luther King, Jr.? All that political capital flushed down the toilet. It’s a stunning fall. Oh well, onward to 2012.

  6. Brigadoon says:

    Barry’s worse than Jimmy Carter. At least Jimmy Carter hated the GOP and made no bones about it. Obama, on the other hand, seems to hate members of his own base and party. I’ve written him off. My focus is on 2012 and the critical importance of finding a primary challenger for Obama.

  7. Rachel,

    In 2008 we thought we were getting some combination of John F. Kennedy and Martin Luther King, Jr. but instead, we got Pootie Tang.

    Who’da thunk it?

  8. Pechanga says:

    “Obama” is Kenyan for “capitulati­on.”

  9. R.J. Lawson says:

    What an asshole. I’ll not only never vote for him again but I won’t even donate to another candidate ever again.

  10. MichaelTAtheist says:

    In 2008 we thought we were getting a combination of John F. Kennedy & Martin Luther King……… what we got, instead, was a combination of Charlie Chaplin’s tramp……….. and “Steppin Fetched”. HOPE barry knows how to tap dance, he’s gonna be seeking new employment in Jan. 2013.

  11. Estacada says:

    What a dope. Obama gave away the farm to the Republicans and now they know he will cry “uncle” to his GOP Masters.

    This is harrowing glimpse of what the next 24 months will look like and the sad reality is, the American people are the ones who will suffer the most. I really thought we had a winner in Barack Obama. I feel like a total fool.

  12. Tiny Dancer says:

    Have you noticed the only time Obama gets animated and engaged is when he’s admonishing the left for daring to criticize him?

    He clearly has disdain for the base and is far more more deferential to his Republican friends. Well good on you, Barry. Let’s see how far this takes you when you run for reelection. My guess is, you’re in for a big wake up call because we’re done with your ass.

  13. Jolly Roger says:

    In 2008 we thought we were getting some combination of John F. Kennedy and Martin Luther King, Jr. but instead, we got Pootie Tang.

    Who’da thunk it?

    Id’a thunk it. But, when he actually got elected, it seemed like my initial impression was wrong.

    Goddammit, it was not.

  14. Chris Crieta says:

    Their so-called defiance of the package is NOT based on anyhting other than the fact that the Democraps are belatedly feeling like the GObP’s stomping mat. They should’ve felt this way A LOOOONG time ago, not now, at the eleventh-hour. Aside form risking blowing the package deal, they are also putting the President in a precarious position, and ONCE AGAIN appearing disparate, and hopelessly unhinged, and divided to the electorate.
    What is wrong with these people? This lack of unity and of a clear message is exactly what screwed us November 2nd.
    Thhis package is NOT ideal, but it is pretty good all things considered, and it surely beats the BLANK that the Democraps have in mind now. Additionally, the importance of Democrats SUPPORTIING the President and standing together for a change cannot be overstated.

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