Obama To Let Bush Tax Cuts Expire
This would be instead of raising taxes on the top tax bracket and giving the middle class a new tax cut. Instead, he’d reup the tax cuts the middle class has and not touch the top ones.
Obama adviser Bill Daley says Obama will “more likely than not” postpone a tax increase for the rich until 2011, when the Bush tax cuts expire, rather than pushing to repeal them now.
He made the comment on Meet the Press, and it’s a suggestion that Obama will tailor his initiatives to avoid burdening the struggling economy — even at the cost of a widening deficit.
Again, this is another move that signals Obama is no economic ideologue and hardly the socialist boogeyman the right-wing painted him as.