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Obama's tax compromise

Our Readers Who Comment are arguing about the news that President Obama is proposing both government spending and business tax breaks in an attempt to get out in front of the raging partisan arguments about what will fix our ailing economy.

Some favor eliminating existing tax breaks or even raising some taxes, given the huge deficits we have accumulated. Others suggest that if the administration were doing its job government programs would be cut. Some seem to be looking for a compromise. Several are angry about not being able to find a job.

As Lori Montgomery writes, "Obama would not threaten to veto any compromise which extends the upper-bracket cuts, a position that has gained ground in recent weeks among moderates in both the House and Senate."

We'll start with paulnolan97, who wrote, "Obama should veto any effort to extend the Bush tax cuts period."

But Bearbank wrote, "Jeez, when are you lackeys in the state-controlled press going to be honest. Your headline should have been: 'Obama refuses to cut taxes that would produce real growth.' "

However, Thinker1 suggested, "How about no tax breaks unless they (a) don't downsize, (b) don't outsource and (c) hire?"

clandestinetomcat wrote, "Here's the thing Obama and the Democrats don't understand: Wise and informed people - The People - don't appreciate their tax dollars being wasted for political stunts which do nothing but get us all deeper in debt. If you spend OUR money, please offset the debt by cutting spending on obviously wasteful programs - they aren't hard to identify."

mwarren76 said, "Incredible additional indication that the administration has no idea how an economy works. Companies don't invest for a tax break. They invest because they see growth opportunities that support expansion. They also don't do R&D for prize money. They do it to try and create products people will buy. Until the administration gets the joke, that companies aren't investing because they have no idea what portion of their profits they'll keep in Obamaworld..."

ssmorehouse wrote, "Too Litte, Too Late. Obama wasted his first two years in office paying back the SEIU [Service Employees International Union] and other labor unions, and saving an automotive Co. that should have been allowed to go into bankrupcy as well as Healthcare Overhaul that should become the first item the next Republican controlled house dismantles..."

brewstercounty observed that "The money for anybody's tax credit, which of course is just a cash handout, has to come out of someone else's hide."

jbento wrote, "It is beyond reason why so many Democrats don't learn how to fight for their principals. To continue to let the wealthiest Americans of which I am one to pay less taxes is ridiculous for a nation staring down a two wars off the budget record deficit. Our education system is obviously failing if so many Americans can be feared into voting for the very same folks that bankrupted us, our infrastructure needs mega improvement and only revenue sources can ameliorate the shortfalls..."

Roism007 said, "WMD anyone...we are still paying for American Stupidity, not a peep from the republican on fiscal responsibility prior to Obama becoming President..."

rkerg wrote, "Please remember that when GW Bush asked congress to enact those tax cuts way back at the beginning of his first year in office, the reason he gave was that the surplus was too big and government needed to give that money back. Mission Accomplished. No more more surplus so tax cuts no longer needed."

hunter340 said, "Obama's own Budget Director claims Obama is wrong about tax cuts. The White House was blindsided Tuesday by former budget director Peter Orszag's dramatic break with President Obama on tax policy. Orszag, in a column in The New York Times, called for all of the Bush-era tax cuts to be extended for two years, including rates for the wealthiest taxpayers..."

euarte wrote, "What trash he says. He hates the rich. He ought to come out and say it. Like them or hate them the rich are the creators of wealth for the nation and not just for themselves. Because of Obama, the enlightened one, they have cut back on their spending and investments in the economy. It has hurt us..."

lobern1 said, "Finally, enough is enough. The rich have raped the middle class for the last decade. How can they even say that keeping wealth concentrated in the hands of a few will help the economy?"

kcbob asked, "If giving the rich tax breaks really helped our economy, how come we had this recession after thirty years of borrow and spend tax breaks called Reaganomics? Republicans will tell you they didn't do it. But 13 trillion in debt happened on their watch since Reaganomics..."

rplat wrote, "The "rich" fuel the economy which creates jobs. Obama is lost in a fog of Marxist idiocy and is driving this country into an abyss."

We'll close with this creative suggestion from kl305, who said, "Here is the thing I don't get. Why don't all the folks that believe we should be paying more in taxes just give money to the IRS? The IRS will accept your donations. It is the Patriotic thing to do! Your country needs your ill gotten gains, boy do we need them... If Obama can convince the average to include and extra $1,000 with their IRS return as a gift to better government I am sure the masses will respond..."

Any takers?

All comments on this article are here.

By Doug Feaver  |  September 8, 2010; 9:11 AM ET
Categories:  Obama , Taxes  | Tags: Congress, Economy, Obama, Taxes  
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