The president is evidently committed to allowing the Bush tax cuts for the super-rich to expire. Though I have no idea how he’ll preserve the tax cuts for middle and lower tax brackets. I don’t see how the Republicans will allow him to pass a continuation of those cuts, while bailing on the others.
Obama adviser Robert Gibbs insisted that the president would not support giving rich people another tax break. “Let’s make some progress on our spending by doing away with tax cuts for people who quite frankly don’t need them – tax cuts that haven’t worked,” Gibbs said during an appearance on CNN’s State of the Union. Obama is “100% committed” to that position, he insisted.
It will probably suck in many different ways to observe the Republicans try to out-flank the president on this one.