Obama will call to end Bush-era tax cuts on wealthy
April 13th, 2011
09:19 AM ET
7 years ago

Obama will call to end Bush-era tax cuts on wealthy

Washington (CNN) - President Barack Obama will call Wednesday for an end to the Bush-era tax cuts for Americans making over $250,000 annually, according to a senior administration official.

Filed under: President Obama
soundoff (62 Responses)
  1. Henry

    I think this is the perfect opportunity for President Obama to look us in the eye, talk about shared sacrifice, and lay it on the line. He then needs to take serious issue with the GOP and turn the people against them, directly. Call them out, directly. Attack them, directly. Speak of Boehner, Cantor, Ryan, Pence, and those like them and accuse them of working against the very people they are supposed to serve, directly.

    April 13, 2011 09:32 am at 9:32 am |
  2. Frank

    Obama = I was for the Bush tax cuts before I was against them. Bhahahahahahahaha

    Obama 2012 budget = No spending cuts.
    Obama 2012 budget version 2 = Oh wait, did I leave out spending cuts. Bhahahahaha

    Obama on raising the debt ceiling = I was against raising the debt ceiling before I was for it. Bhahahahahahaha

    Is this guy for real? Great comedy act!

    April 13, 2011 09:32 am at 9:32 am |
  3. David

    I'm happy for this. Stop increasing taxes on people who pretty much live paycheck to paycheck and tax the people! We also need to fix this whole "corporations" are people thing. If they are people and based in the US then they too shall pay heavy taxes. It's ridiculous how they scheme to make all their business offshore so they don't have to pay taxes. It's ridiculous!

    April 13, 2011 09:36 am at 9:36 am |
  4. Bob

    Wow, that will cover 1% of our annual overspending. What about the other 99%?

    April 13, 2011 09:37 am at 9:37 am |
  5. idb

    Sounds nice, where it not that these tax cuts will only hurt businesses, since they are considered "rich" as well, based on their inventory. Another shortsighted populist move by Obama.

    April 13, 2011 09:38 am at 9:38 am |
  6. SuperD

    We need to dump this loser as quickly as possible. If he's so smart, why can't he understand Economics 101? You don't raise taxes on the Entrepeneur class in a recession. More misery to follow for all, but Liberals will sleep well at night, thinking they got the "rich" boogeyman in his place.

    April 13, 2011 09:40 am at 9:40 am |
  7. Slyer

    It's great that we have a president that cares about the people who are poor and needy. This is one of the reasons why I have voted for him.

    April 13, 2011 09:40 am at 9:40 am |
  8. Tired of the nonsense

    Now let's do what should be done - since 2% of the population has all the money, let them pay 98% of all the taxes. Let the 98% of us who are having problems living paycheck to paycheck pay the last 2%.

    April 13, 2011 09:41 am at 9:41 am |
  9. McMurdo

    After selling us out last time he has to or he'll lose the rest of his base. It was a campaign promise he renigged on and we won't forget come 2012.

    April 13, 2011 09:42 am at 9:42 am |
  10. Mike

    Good! It's about time. Now corporate tax reform.

    April 13, 2011 09:42 am at 9:42 am |
  11. Rick McDaniel

    That one is a no-brainer. Of course, eliminate the tax cuts for the wealthy, and probably for the rest of us, as well.

    April 13, 2011 09:43 am at 9:43 am |
  12. Russell

    awwwe I feel so sorry for those rich people. I hope they dont starve to death now.

    April 13, 2011 09:44 am at 9:44 am |
  13. bill

    About 8 years too late...

    April 13, 2011 09:45 am at 9:45 am |
  14. Tanja

    Good...prior to baby-Bush cutting taxes to the rich by 3%, the budget was balanced, the debt was being paid-off and America had JOBS.

    April 13, 2011 09:47 am at 9:47 am |
  15. sonny chapman

    Makes sense. The proposed "new" rates were the same as when we had the Clinton Economy & EVERYBODY did well. Remember your 401 K back then ? Also, the Bush rates were only enacted because we had a SURPLUS. There was supposed to be a "trigger" to repeal them to the Clinton Rates if we began running a deficit. But then SOMEBODY was chilling at The Ranch in Aug. 2001 & along came 9-11 & everybody lost their mind–some even used 9-11 as a political club to pound their "enemies".

    April 13, 2011 09:48 am at 9:48 am |
  16. Rodney DeShields

    I would just like to say that president obama is a very good president and that he has don a very good job for the world. I thank that the G.O.P has gave him a hard time because of his race but I would say keep your head up because joy comes in the mourning.I also would like to say that you have my next vote.

    April 13, 2011 09:50 am at 9:50 am |
  17. Terry

    You Go Mr.President, "Smart and Logical" Gop does,nt want to tax themselves,and their Lobbyist. Logic doesn,t make sense to these "Rich" ceo backside kissers? Stay your " Logical " course sir!!!! We need you!!!

    April 13, 2011 09:52 am at 9:52 am |
  18. Rudy NYC

    Mr. President, unless you are playing an extremely subtle hand with a rather soft touch, your timing is out of touch on this argument. You should have had 2 votes in the House last fall prior to Election Day. One vote for the middle class, first. Followed by a vote for the upper income tax cuts. You had the ball and threw up an alley opp to the opposition.

    If you are looking for a way to get back on message, you need to drive home the fact that tax cuts are a form of spending. That is the weakness of the Ryan plan because it ignores the fact the it's proposed tax cuts are actually spending increases. Yeah, yeah, it is actually a spending shift, I know.

    But, no one will understnad how it is a shift in funds until they understand that a tax cut is a form of spending, something which conservatives will make noises against. But, they noises they will make will never speak to the point of the issue that tax cuts are a form of spending.

    So, if they want to cut spending. Okay, let's do this. You cut my spending, and I will cut your spending. You have accepted cuts in your spending, and then have staunchly refused to do so. Your ball, Mr. President. Free throws coming up.

    April 13, 2011 09:54 am at 9:54 am |
  19. Darius

    About time. Tax cuts for the wealthy while cutting education is a souless shameful exercise in greed and avarice. For shame on the hypocrites.

    April 13, 2011 09:56 am at 9:56 am |
  20. Rus

    When will the president read his own deficit commission report? Ending the Bush tax cuts is meaningless and barely raises any money. The CBO had it at what, $700 Billion over 10 years, that is $70 Billion a year in a $1.4 Trillion annual deficit. I'd rather have a President that would lead the way on some fundamental tax reform, something we need badly in this country, something the deficit commission recommended, and included in Paul Ryan's budget plan for the GOP. Going from 36% to 39% is nothing, especially when many rich are only really paying 22% or so anyways after all of the deductions and loopholes they can take advantage of. Give us some fundamental reforms, lower the tax rates, remove the deductions, and broaden the tax base to increase revenues, just like the deficit commission recommended. We need a bold and visionary leader on this!

    April 13, 2011 09:57 am at 9:57 am |
  21. Name k in ashburn,va

    Americans need to alll pull together

    April 13, 2011 09:57 am at 9:57 am |
  22. Four and The Door

    Which again proves that Obama is all about politics and no economic wizard. Does he not care one bit about high unemployment?!?!

    April 13, 2011 09:58 am at 9:58 am |
  23. martin

    Watch the stock market go down now. More of obama redistrbution of wealth

    April 13, 2011 09:59 am at 9:59 am |
  24. Bob

    Mr. Preident, show some leadership and support meaningful spending cuts. reduce the size of government. 20 percent accross the board.

    April 13, 2011 10:00 am at 10:00 am |
  25. Shirley

    It is time for the tax system to be revised to a flat rate, no exemptions and no loop holes. Everyone will pay their fair share based on income. We could save billions by dismantling the IRS.

    April 13, 2011 10:00 am at 10:00 am |
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