Obama Calls for End to Tax Cuts for Wealthy

Tuesday, July 10, 2012

President Barack Obama speaks about urging the US Congress to act on extending tax cuts for middle class families in the East Room of the White House in Washington, DC, July 9, 2012. (Getty)

It was supposed to be a week spent re-examining the President's healthcare plan. At least, that's what Republicans thought.  

Instead, President Obama announced yesterday that he’s asking Congress to extend the Bush-era tax cuts to anyone making less than $250,000 per year. He does, however, want to extend the tax breaks for everyone else.

It seems like a move designed to corner Republicans. Either they agree to Obama's plan — or they hold up tax breaks on behalf of the wealthiest Americans.

The Romney campaign stayed mostly silent Monday, and Obama directed his remarks to Congressional Republicans. But Todd Zwillich, The Takeaway's Washington Correspondent, says make no mistake: this is campaign politics at its most conniving.

Produced by:

Brad Mielke

Contributors:

Todd Zwillich

Comments [1]

listener

So the President in a tight election is suddenly allowing us to keep more of our own money for one year?
Than what?

Will more uncertainty in the economy lead to job growth or do we have a President putting his selfish political agenda over the good of the nation?

How long before ALL retirement accounts and 401K tax shelters become the target of this administration that watched five trillion dollars be spent since 2009?
Will they just let that mountain of government issued currency saved by working people just sit there untouched?

The real money and real target is the middle-class and not the wealthy, whatever that word means anymore.

It seems the light is beginning to dawn for many 2008 Obama supporters.

Jul. 10 2012 10:05 AM

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