Obama Fiscal-Cliff Posture Unserious And Dishonest

Barack Obama between flags SC Obama Fiscal Cliff Posture Unserious And Dishonest

Fiscal Cliff: President Obama is undeniably a shrewd tactician, so long as his tactics remain unscrutinized. Right now his approach to negotiations is as unbalanced as it is dishonest.

Some presidents honorably seek great bipartisan accomplishments, hoping what they compromise away won’t go too far. The 1986 tax reform act was a perfect example.

Simplifying the U.S. tax system’s 15 brackets into two marginal rates, the top one dropping to 28%, was an astonishing achievement by Ronald Reagan that many were sure was impossible. Most remarkably, prominent Democrats supported it.

Among Reagan’s major giveaways were appeasing Democrats’ class warfare tenets by agreeing to tax capital gains at the same rate as personal income; plus the 33% “bubble” rate some in the 28% range had to pay.

This kind of honest bargaining is not what Barack Obama is currently up to. He and Senate Majority Leader Harry Reid are simultaneously trying to wreck the Republican Party politically by destroying its credibility as an enemy of high taxation.

Read More at investors.com .

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Comments

  1. Seeks_the_truth says:

    Going over the fiscal cliff or allowing those who make over $250K will both destroy what little economy we have left. Either way look forward to the Depression we are in to remain as such for at least 4 more years.
    What I don't understand is how $250K is considered "rich"?

    • When you don't work you have no concept as to how much $250K is, any amount would look good to those that have none.

      • Seeks_the_truth says:

        Those that have "none" do understand how much $250K is because they have held jobs and worked for what they did have.
        Those you claim that have "none" but are on welfare might not understand how little $250K really is for a small business owner or someone who holds large student loan debt. They receive from the taxpayers an amount that equals on average what they would working a job that pays $15/hr. The amount rises or lowers according to what state you're in. Like in Hawaii, the average welfare recipient gets equal to a job making $17/hr.
        How could a 17 year old who is on welfare because she got pregnant, and never finished school, realize how much $250K really is?
        I've been in line behind those that "have none", with the few bucks I have worked hard for, buying items I could never afford, getting into a car I could never afford, to go to a home they don't pay for like I do.
        Don't forget just because you MAKE $250K doesn't mean that's what you take home after all the taxes are taken.

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