Obama to rule out any compromise for extension of Bush tax cuts on top 2% Wednesday…

Another one for the files..the NYT lede: “President Obama on Wednesday will rule out any compromise that would extend the Bush-era tax cuts for the wealthy beyond this year…”

This is as we predicted, but just today the delusional or willfully blind floor traders at NYSE told Bob Pisani they expected the Bush Tax cuts for the top 2% to be extended.

They (market watchers) have claimed this crippling maneuver is ‘priced in’ to the markets while simultaneously every talking head on CNBC has been saying ‘no way will they let those expire! that would be crazy!” for months.

Yet here we are, as predicted. Obama and Pelosi would never, ever let those tax cuts get extended come hell or high water (or low water mark for the GDP whatever the case may be).

So tomorrow we will see if the expiration was indeed priced in or if the markets realize just who Obama is, finally, and tank in response.

And the really great news is Obama is going to GET partisan in his speech, like he hasn’t already? NYT in same piece linked above says he will talk tough on the differences b/w GOP and Dems. Oh brother. More Spike Lee Malcolm X dialogue mayhap? Ditches? Bamboozlement?

Well, I don’t hate the rich. I recognize they hire people and create jobs. I think the geniuses at the WH who designed this plan STILL do NOT GET the American people. We don’t want to fight the rich, we want them to hire us! So we can save and invest and help our kids get farther than we did. American Way, American Dream , get it?? Sheesh.


September 7, 2010. Tags: , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics.

One Comment

  1. Stephanie replied:

    Americans pay so little taxes, it’s unbelievable. But with the current economic crisis, one must start to wonder, are Americans being under-taxes? With a little more taxes, could Americans have more affordable higher education, health care, and other social services that is subsidized by the government? This whole argument is rather silly. Taxing the wealthiest won’t lead to less jobs! The current tax breaks haven’t helped the economy or created more jobs, now have they? Have some social responsibility and realize that the gap between the rich and the poor has the potential to do more socioeconomic damage than any expiry of tax breaks.
    Stephanie Mcnealy
    Customer Service Team


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