More Change: Obama to Delay Rollback on Bush Tax Cuts

Posted on November 23, 2008

Remember the Bush tax cuts Obama wants to repeal? Not so fast!

President-elect Barack Obama may consider delaying an election promise - to roll back tax cuts on high-income Americans - as part of his economic recovery strategy, a senior aide and an adviser said on Sunday.
David Axelrod, one of Obama’s closest confidants chosen to be a senior White House adviser, was asked if the tax cut could be ended later than Obama called for during the campaign. “Considerations will be made,” he said on “Fox News Sunday.”

Ed Morrissey:

Considerations, eh? I suppose the meltdown on Wall Street had a lot to do with those “considerations”. The near-unanimous chorus from economists about the dangers of raising taxes in the middle of a recession may have produced those “considerations” as well.
Now that Obama has to actually govern his way out of a global financial collapse, he’s realizing that he needs all the capital he can get to invest back into economic growth. And that’s not a bad thing.

Huffington Post:

I’m confused. Beyond the very clear - and admirable - mandate Obama created for himself in terms of raising taxes on the rich, history suggests such a policy is not at odds with righting an economy.

Change you can believe in.

» Filed Under 1st Amendment, Barack Obama, Change? What Change?, Democrats, Dems In Charge: Now What?, Economy, Elections, News, Taxes