FIRST ON CNN: Obama, Dems drop millionaire surtax to pay for payroll tax cut
December 14th, 2011
05:29 PM ET
2 years ago

FIRST ON CNN: Obama, Dems drop millionaire surtax to pay for payroll tax cut

(CNN) - In what would be a major concession, President Obama and Senate Democrats will drop their insistence that a surtax on millionaires pay for extending the payroll tax cut, a Democratic source tells CNN. This would be part of a new Democratic offer.

The move comes after Senate Majority Leader Harry Reid and other top Senate Democrats met with President Obama at the White House earlier today.


Filed under: Congress • President Obama
soundoff (65 Responses)
  1. Larry L

    @ Four and The Door

    "Very good decision by the Democrats. And very good work by the Republicans in congress for holding your ground on this one. I still don't agree with the idea of de-funding Social Security just because it is a convenient way to make nice with a huge majority of voters leading into an election year."
    ----------------------------------------------
    In the class war are the wealthy just won another battle. The President yet again gave-in without taking this to the mat. I would have allowed the tax exemption to expire ratheer than let the Republicans continue to fight for their sugar daddies. To Four and The Door... you are eitheer very wealthy and protecting your tremendous fortune or you're just another person brainwashed by the lies of the right-wing media. This isn't about Social Security. Republicans would trash Social Security in a heartbeat if those of us who get a check weren't reliable voters. This is about bigotry, obstructionism, and failure to take responsibility for the destruction of our economy during the Bush administration. You did it. You fought against fixing it. You are not a patriotic American.

    December 14, 2011 07:06 pm at 7:06 pm |
  2. done4now

    Cannot vote for a person that does not have a spine.

    December 14, 2011 07:08 pm at 7:08 pm |
  3. JF

    I understand now, why GOD had to get me to see what I see now. Because if god do not open your eyes,
    you will be asking "' Why Are You Hurting So Many People "'. Now I know why GOD is going to hurt so many people.
    And I said GOD, not me. The power he is going to us, I do not have. But if I did, I would stop this world from turning.

    December 14, 2011 07:09 pm at 7:09 pm |
  4. Coigne

    Obama is better than the alternatives. Stay with him until someone better emerges. It took 30 years to get us into this mess. It will take more than one election to get us out. Stand for your beliefs. Go to the polls. Vote Obama in. Vote Republicans out. Show our strength and Democrats will learn to stand up on their hind legs.

    December 14, 2011 07:12 pm at 7:12 pm |
  5. Dave in San Fran

    What did you expect them to do? If they don't compromise, Republicans blame Dems for holding up legislation. If they do compromise to get something passed, then Dems turn against them because they've "given up". It's between a rock and a hard place. Vote in Dems and get rid of all this useless garbage. As the Speaker, Boehner has done NOTHING to create jobs. Yah....way to go Congress.

    December 14, 2011 07:15 pm at 7:15 pm |
  6. Coigne

    Democrats who do not bother to go to the polls are caving in just as the party has caved in to Republican obstructionism. We have to be stronger than that.

    December 14, 2011 07:15 pm at 7:15 pm |
  7. Coigne

    It took 30 years to get us into this mess. It will take more than one election to get us out. Go and vote.

    December 14, 2011 07:17 pm at 7:17 pm |
  8. AlaskaPalin

    Being a college professor does not necessarily make one a good president. It only assumes the fact one might have some level of intelligence. Obama has failed. Mrs clinton has succeed. He has now proven that his policy of taxing the rich was only a political gimmick; that It did not make economic sense. So the republicans had to be right on the economy and obama wrong. So why did he waste so much political capital on this idea only to change at this late hour- is it because he doesn't know how to get us out of the economic mess we are in. He put up this smoke screen as he dithered knowing full well it had all to do with politics and nothing to do with economics; which he does not understand. Persons are meeting it hard so if I could get them to blame the rich then they will over look my failure and so give me a second term. Now even that has gone out the door. Obama was not ready for washington. But newt has been there and knows how to get it working again. Newt 2012.

    December 14, 2011 07:20 pm at 7:20 pm |
  9. RobK

    The Dems just want us to get used to paying for Social Security through income taxes. It's a backdoor way to redistribute wealth since Social Security is a flat tax that strongly favors the poor in the way that retirement checks are calculated, whereas the poor and lower middle class pay no income taxes.

    December 14, 2011 07:27 pm at 7:27 pm |
  10. Anonymous

    Obama and the Dems cave in again. I thought they finally found their collective backbone. Guess I was wrong. The party of the 1% wins again.

    December 14, 2011 07:30 pm at 7:30 pm |
  11. David Brankow

    Obama and the Dems give in again. I thought they had finally found their collective backbone. Guess I was wrong. The party of the 1% wins again.

    December 14, 2011 07:32 pm at 7:32 pm |
  12. Anonymous Blogger

    All I see are well groomed marionettes in the most terrible spectacle of "contemporary democracy" (if you can call it a democracy anymore). Honestly, I hope the end of the world actually does come. Screw all of this.

    December 14, 2011 07:34 pm at 7:34 pm |
  13. Conserv

    Cave! I can't wait for Obama to get his pants handed to him in the election next year. The man made all sorts of promises and not one of them has come true. Close Gitmo.. Ha. Show me the money and unemployment won't go above 8 percent. Nothing that has happened in the last three years has been his fault... its ATMs, the internet, Republicans, Bush, earthquakes, tsunamis, the list goes on. The man is incapable of admitting that he has made any mistakes at all. This is the difference between one who has the wit, intelligence, and ability to lead and one who is just a mouthpiece for the liberal destruction of our country. The longer the dems are in power, or given a soap box to stand on, the more permanently unemployed people we will have. The only fair thing to do is let big businesses fail, stop extending unemployement, get rid of burdensome regulation, and make the 47% of american who don't pay federal income tax start paying something!!!!

    December 14, 2011 07:44 pm at 7:44 pm |
  14. roy elliott

    Well,Well,Well. The democratic clowns realize that their beloved messiah is LOSING in the polls.....The democratic Reps are running scared.

    December 14, 2011 07:51 pm at 7:51 pm |
  15. Judy

    Here we go again, the lobbyists are gaining control through the Republicans. The economy is bound to tank again as it did under President Bush.

    December 14, 2011 07:56 pm at 7:56 pm |
  16. Old Artillery Man

    Every time I look at what the republicans are offering, I say to myself, I will have to vote for Obama. He then kicks me in the shins again with something like this. The election better come soon or I will not be able to walk to the polls.

    December 14, 2011 07:59 pm at 7:59 pm |
  17. Jh

    In return for what? Why do we keep negotiating with ourselves? Let them raise payroll taxes on us all rather than tax a few billionaires, and we'll see which party the voters prefer.

    December 14, 2011 08:07 pm at 8:07 pm |
  18. PRICE

    I understand your fustration, It pisses me off. But I understand Obamas' position, should I let millions of families loose this much need break. Especially in this economy. or do I play with people's livelyhood. I think if he "Obama" he the other position. We could all just consider him an Republican, because thats who they are...

    December 14, 2011 08:24 pm at 8:24 pm |
  19. bilk7

    Once again, the Dems give in to the GOP's ransom demands and the American people pay for it!

    December 14, 2011 08:24 pm at 8:24 pm |
  20. They ought to change from the elephant to the hippo...

    Hmm... So should the next election go to Democratic Republicans or Republican Republicans? I guess the difference is that one of these groups always gets their way, while the other always gives them their way. Smooth...

    December 14, 2011 08:30 pm at 8:30 pm |
  21. Keith in Austin

    Harry Reid's Senate counter-offer coming tomorrow is going to be quite laughable! I'll bet a dollar to a donut that his Democrat-controlled Senate will recommend a Liberal plan that will ADD to our 15 Trillion Dollar debt! They just can't help themselves without raising taxes on somebody. God knows it's impossible for a Liberal Democrap to CUT SPENDING! Give us a break Harry! You're a pitiful little weasel and we can read right through you!

    December 14, 2011 08:30 pm at 8:30 pm |
  22. Logic in LA

    I become more embarrassed everyday to say I'm a Democrat. Check that- the progressives in Congress and the President should be ashamed to say they are.
    How many more times are they going to buckle to these greedy, fat cats?

    December 14, 2011 08:31 pm at 8:31 pm |
  23. kravitz

    President 1% Has Returned.

    December 14, 2011 08:40 pm at 8:40 pm |
  24. Wyobob

    The great caver! We (all americans) need someone to vote for president. The republican clowns, and the spinx, will never get my vote.

    December 14, 2011 08:43 pm at 8:43 pm |
  25. Frank

    Put them all in diapers. They are all full of it.

    December 14, 2011 08:59 pm at 8:59 pm |
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