For Obama, Raising Taxes on the Rich is More Important than Preventing the Tax Increase on the Middle Class

July 24, 2012

President Obama’s attitude towards the Bush tax cuts is very telling. For him, raising taxes on the rich is more important than preventing the tax increase on the middle class. How do I know this? Because today the White House is threatening a $1,600 tax hike on the middle class if Republicans don’t agree to raise taxes on the rich.

from The Hill:

The White House has launched a new offensive in its fight with congressional Republicans over taxes, arguing 114 million middle-class families will see their taxes rise without action by Congress.

A report from President Obama’s National Economic Council released Monday contends the families would see their taxes rise by an average of $1,600 if the George W. Bush-era tax cuts expire as scheduled at the end of the year.

The report is the latest effort by President Obama to corner Republicans on taxes.

The GOP has argued that all of the Bush-era rates should be extended for a year, and the House is expected to vote to approve that extension next week.

read the rest

The President’s concern for the middle class is a farse, and this situation proves it. The House will pass the tax cut extension for the middle class next week, but Obama has already vowed to veto any bill that includes the tax cut extension for those making over $250,000.

How does that make any sense at all? President Obama, whose chief campaign promise was to never raise taxes on those making less than $250,000, is now twisting arms for tax hikes on the rich by threatening to raise taxes on those making less than $250,000.

Go ahead, Mr. President. I dare you to veto the tax cuts extension. There will be no-one to blame but yourself. The pen is in your hands.