Barack Obama has long supported the idea of extending the “Bush” tax cuts for 98 percent of the population. The highest-earning 2 percent, meanwhile, will see their top tax rates go back up to where they were in the 1990s.
The Washington Post has a story today (9/8/10)that more or less explains this fact. The headline of the story is “Obama Set Against Bush Tax Cuts.” Is the Republican National Committee suggesting headlines for the paper?
Meanwhile, the New York Times has a similar preview of Obama’sannouncement today, headlined “Obama Is Against a Compromise on Bush Tax Cuts.” I suppose this depends on what one means by “compromise.” Obama has long supported renewing many of the tax cuts in question–a position Republicans have so far rejected–but that doesn’t seem to qualify.
Further muddying up the issue is the fact that Obama is proposing an “election-season economic package that is otherwise designed to entice support from big businesses and their Republican allies.” The Times goes on to note that the White House is supporting corporate tax policies that have “longstanding Republican and corporate support.”
So he’s pushing policies designed to appeal to Republicans and corporations–but he’s refusing to “compromise”?