Barack Obama — November 17, 2012 at 9:29 am

President Obama Is Not Impressed


Mitt Romney’s tax breaks did not win the last election.

President Obama jokingly mimics U.S. Olympic gymnast McKayla Maroney’s “not impressed” face.

The GOP is still at war with facts, ObamaCare health insurance exchanges and Planned Parenthood. But when it comes to the Bush tax breaks for the rich, Republicans want a pass.

President Obama extended the Bush tax cuts for all Americans in 2010 to order to secure the only job creation measures he was going to get out of the Republicans. He said then that he would not do so again. But Speaker John Boehner (R-OH) and Senator Rob Portman (R-OH) have indicated that they want a short-term extension of the tax cuts and the sequester spending cuts that are set to begin in January.

Their plan is to get past the president’s glow of re-election and deep into 2013 when the president’s promise and mandate to raise taxes on the rich will have faded. Then they’ll craft tax reform that lets the rich keep or compound their tax breaks.

Don’t expect that to happen.

“That’s not going to happen,” a top Democratic Senate aide told The Huffington Post. “There’s not going to be any extension of the top two rates, short-term or otherwise.”

This reassurance is reassuring but it also makes perfect sense. The president engineered this situation to work out exactly this way. He can let the tax cuts expire and then dare the Republicans not to pass the tax cuts for the middle class next year. Or he can include the end of the tax breaks for the rich as part of a “grand bargain,” which will give him a lot of leeway in making the spending cuts and entitlement reforms that Republicans will demand.

Boehner and the GOP know they’re in a hole and the president has all the cards. They could have gotten a much better deal in 2011, now they’re stuck and facing possible civil war in the party over the tax breaks for the rich ending.

Republican deficit scare talk worked when the president was facing re-election. But now, the president isn’t so impressed. And that’s good for the middle class.

Photo credit: Official White House Photo by Pete Souza

  • dbukley

    I love you but please proofread your copy. I want you to look as good as you are. *past not passed.

  • I hope the president sticks to his guns and doesn’t extend those ridiculous tax cuts NO MATTER WHAT. He’s compromised with the GOP time and time again and they keep biting his hand, so it’s time to play chicken with them and indeed, it looks like the president is prepared to do that. If not now, when? Politically the timing is perfect.

    I have every confidence that our economy will continue to get better and the deficits will be lowered under Obama’s leadership. It begs the question, how are the Republicans going to try and take credit for it in a couple of years once we’re back to where we need to be? They have NO shame.

  • kirke123

    keep your hands off my SS/medicare! stimulate the economy with jobs at local, state, and federal level. when economy is back with more revenues then pay down deficit.
    of course let tax rates expire for over 250,000. count all capital gains as income, and use oil subsidies to subsidies new energy, and they must allow medicare/medicade to negoiate drug prices.
    if they mess with SS/medicare, they will truly make a BIG mistake!

  • kirke123

    when i state jobs, i am referring to government jobs