Obama will call to end Bush-era tax cuts on wealthy
April 13th, 2011
09:19 AM ET
11 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. randy e

    If the tax cuts worked, the trickle down effect would have worked already after all these years. Instead unemployment is still almost 9% with very little real job creation.

    April 13, 2011 10:33 am at 10:33 am |
  2. Boo

    It's NOT your money Obama, NOT you money.

    April 13, 2011 10:36 am at 10:36 am |
  3. sonnie2

    Call it what it is. It is an increase in taxes for the rich. Not a bad idea. It time is near
    let us also close many loop holes that are not in the best interest of the majority of Americans.
    We have a spending problem mostly and not an income problem. We need to get OBAMA
    to quit spending like no tomorrow. He has done lots of damage and it will be hard to fix what
    he has broken in the near future. Just use common sense and balance the budget and cut
    the size of Government by 30% and America will be just Fine

    April 13, 2011 10:41 am at 10:41 am |
  4. No name

    What a surprise. So what happens when we cant tax the rich anymore?

    April 13, 2011 10:44 am at 10:44 am |
  5. PJinChicago

    Everyone does understand it's not a "cut" when you're giving a person their own money back, right? It's like finding cash in your pants pocket on laundry day. It's your's stupid. You didn't just hit the lottery. The other funny thing about this President is he always talks "to" the 98% when he's saying he wants to tax the 2%. Why doesn't he just ask the 2% directly? That's just spineless behavior from an empty suit.

    April 13, 2011 10:45 am at 10:45 am |
  6. deryl

    quit funding other peoples wars.Take care of america first then worry about other countries

    April 13, 2011 10:45 am at 10:45 am |
  7. Scott

    In this time where the economy is, we have to raise taxas, but when the dept is down and the economy is booming alot. We are moving the right way and thats why i will vote democrat in 2012

    April 13, 2011 10:49 am at 10:49 am |
  8. vegas01

    No, this is a non-starter. It is not acceptable. We do not need to further reduce the spendable revenue of individuals or companies, but instead to reduce the spending by DC back to their actual spendable revenue. It's called a balanced budget.
    Just look at the economic effect seen after the tax rates were prevented from increasing in December. We have seen growth of jobs in the private sector, and improvements in other ares of the economy as well.
    Reversing that action will reverse those effects.

    April 13, 2011 10:50 am at 10:50 am |
  9. Michael Samson

    It's about time.

    April 13, 2011 10:51 am at 10:51 am |
  10. ryan

    I will change froma supporter of Obama to a strong opponent. This "system" we have created is rediculus.

    April 13, 2011 10:51 am at 10:51 am |
  11. PJinChicago

    Better yet, why doesn't he just return some of the shiny new toys he can't pay for, instead of asking for a credit increase. I new that was a bad move when I was 18, and had my first credit card. duh!

    April 13, 2011 10:53 am at 10:53 am |
  12. David

    It is detrimental that Obama insist that the wealthy & corporations also help pay for resolving our budget woes. Yes, the country needs to get control of entitlement spending, but resolving our budget problem can't continue coming from the middleclass, which is shrinking rapidly these days. Obama also needs to seriously start planning to get the USA out of the 3 wars it is in, and reduce military spending. Raising taxes on the wealthy & corporations, reducing additional spending, AND cutting the military budget addresses the 3 primary expenses. Republicans & TP Paul Ryan's ideas will be catastrophic to the economy.

    April 13, 2011 10:54 am at 10:54 am |
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