Obama at Odds With 2 Recovery Board Advisers Over Bush Tax Cuts

Since they didn't vote on extending the Bush Tax Cuts, that means that MOST of us will have a hefty new tax increase in Jan., 2011. Wake up folks, and vote on Nov. 2.

We need to discuss the distinction be tax rates on ordinary income, and tax rates on qualified dividends and long term capital gains - along with the discussion on what tax cuts should be eliminated. I do not agree with President Obama wanting to eliminate the tax cuts on those "earning" above a certain income level; but, I do agree with eliminating the capital gains tax cut. In fact, I think dividends and non-real property long term capital gains should be taxed at the same amount as ordinary income. The introduction of income levels into the discussion does not address the disparity in taxation between those who work for a living and those who invest for a living - and the investors are getting tax relief when compared to workers. It is that tax disparity that benefits the wealthy. I think President Obama is correct in his position that investors are not holding back on their activities because of the uncertainty of taxes, though they may be holding back on the uncertainties of the markets.

Plain and simple, he wants to redistribute the wealth, period. I'd like to know what they plan to do with the 700 billion dollars they expect to suck from the wealthy. You can bet it won't be to pay down the debt. Could it be that they already have a plan to spend it on some other foolish socialist program that we have not heard about yet? Yeah, that's the ticket.

Let Bush's tax cuts expire for everyone! Next year come up with a middle class tax cut and leave the rich out of it. See if the "Party of NO" fights that. Anyone wanna bet?

Reference article by John Merline "Monster Deficits". Even if the tax increase is put back on the wealthy the CBO shows the defecits we are looking at in 2018. Makes comparison if we had kept Bush spending policies in place the deficit would be 60% less than the course this administration taking. 2018 defecits Bush/188 billion...Obama/996 billion.

President Obama will not listen to his financial advisors should be the headline. He will not listen to economic advisors and stubbornly clings to what is truly his passion which is the redistribution of wealth. He seems to only care about his social programs. He made all kinds of campaign promises only to go into business for himself and stop listening to the very people who elected him. I just don't understand his policies as they only make it harder for us. His agencies are running amock with power they should not have making mandates that are job killers and raise the cost of living. In Florida, come November, the new rules on water will cost Florida families an additionsl $700. a year. The national marine fisheries have made fishing closures in federal waters that are forcing local fishermen right out of business and now our restaurants have to buy much of their fish from foreign markets. The moritorium on deep oil drilling combined with forcing oil companies to pump concrete into capped oil wells so they can not be reopened and used is ludicris. I've heard they may be shutting down an oil pipeline in Alaska. All this is going on while our country borrows four million so it can loan 2 million to Brazil and 2 million to Mexico to drill deep water oil wells! Mexico is drilling theirs in the Gulf of Mexico! Our money is pouring out of the US just as jobs are with these idiotic policies under this president, his agencies and congress. We need to send a message to Washington that they work for us and need to use policies that have worked in the past to bring economic growth. We need to limit the power of these government agencies so they do not make more harmful mandates against this country that hurt our economic recovery! Vote to send a message to Washington and bring a balance of power that will get them working for us again!

The Bush Tax cuts failed! and led US into another hole! and put so many people out of work! just like the Reagan tax cuts failed and led to a nasty hole back in the 80's. Unlike Bush, Reagan admited his policies failed, and led to the highest unemployment rate since the depression. What everyone is failing to say about the rich getting tax breaks is, They already have many loopholes to keep more money for themselves if the own a business. So even the playing feild with a flat tax for all, and eliminate the IRS, and the refunds to everyone who qualifies, and the tax loopholes for the rich, and incorporated. While we're at it, make a law that bars all lawyers from public office, and only people who have served their country, and deserve to run the country, Can run it.

Eventually tax payers will pull back investments to avoid taxes and the govt will see reduced tax revenues. The arrogance of this man to think that he deserves our money more than our families is a disgrace.

There is never a time this man worries about the cost of taxes on the people. Does he ever think that cutting govt programs could be the answer?

It's easy for Obama to say people like us don't need a tax cut. He has never risked his own money or worked 18 hours a day 7 days a week to build a company to make him rich. His wealth does not create any jobs for others as do small business owners. Obama has no concept of the sacrifice required to earn wealth through risking one's own hard earned money or hard labor.