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Obama ready to veto a bill blocking ‘fiscal cliff’ without tax hike for rich

Donc

Donc

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Kinda looks like BO,s getting ready for some hardball.:2wave:

By Lori Montgomery, Updated: Wednesday, October 17, 7:49 PM


,President Obama is prepared to veto legislation to block year-end tax hikes and spending cuts, collectively known as the “fiscal cliff,” unless Republicans bow to his demand to raise tax rates for the wealthy, administration officials said.>

<If he wins reelection, Obama may finally be able to dictate the terms of a bipartisan debt-reduction deal. And if he loses toRepublican Mitt Romney, Obama could make sure that tax rates rise before he hands over the keys to the White House on Inauguration Day in late January.>

<One option is revisiting the terms of a deal Obama discussed with Boehner and House Majority Leader Eric Cantor (R-Va.) during last year’s battle over the federal debt limit. At that time, Republicans offered to generate $800 billion in fresh cash for the government over the next decade through an overhaul of the tax code and Obama agreed to push the top rate below 35 percent.>

Officials: Obama ready to veto a bill blocking ‘fiscal cliff’ without tax hike for rich - The Washington Post


 
Hmm, we'll see. He has made a habit of caving to the Republicans. I am skeptical at the idea of him playing hard ball.
 
Aren't the Bush tax cuts expiring anyway? Wouldn't that give them a tax increase?
 
treedancer said:
Kinda looks like BO,s getting ready for some hardball.:2wave:

By Lori Montgomery, Updated: Wednesday, October 17, 7:49 PM


,President Obama is prepared to veto legislation to block year-end tax hikes and spending cuts, collectively known as the “fiscal cliff,” unless Republicans bow to his demand to raise tax rates for the wealthy, administration officials said.>

<If he wins reelection, Obama may finally be able to dictate the terms of a bipartisan debt-reduction deal. And if he loses toRepublican Mitt Romney, Obama could make sure that tax rates rise before he hands over the keys to the White House on Inauguration Day in late January.>

<One option is revisiting the terms of a deal Obama discussed with Boehner and House Majority Leader Eric Cantor (R-Va.) during last year’s battle over the federal debt limit. At that time, Republicans offered to generate $800 billion in fresh cash for the government over the next decade through an overhaul of the tax code and Obama agreed to push the top rate below 35 percent.>

Officials: Obama ready to veto a bill blocking ‘fiscal cliff’ without tax hike for rich - The Washington Post
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That's democracy in action. Republicans really believe raising taxes on the rich isn't the way to go. Or at least they've taken that position so long they can't back down just yet. It'll all straighten out after the election. Line.Item.Veto.
 
So what if he vetos what the GOP passes. That does not mean the GOP has to give him what he wants. They could just as easily say Obama will have to sign what they want or he is the one sending us over the fiscal cliff. If things get bad enough, the House can override a Presidential Veto. The President cannot override a House Vote that keeps it off his desk to begin with.
 
MaggieD said:
That's democracy in action. Republicans really believe raising taxes on the rich isn't the way to go. Or at least they've taken that position so long they can't back down just yet. It'll all straighten out after the election. Line.Item.Veto.
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wasn't that found to be unConstitutional?
 
justabubba said:
wasn't that found to be unConstitutional?
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I didn't even know that. You're right. It was introduced by Bob Dole and John McCain. Signed into law; immediately challenged and struck down. That's one SCOTUS decision I'd like to read. Damn it.
 
justabubba said:
wasn't that found to be unConstitutional?
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Yes, I remember it being part of the Contract with America. They tried giving it to Clinton, and it was struck down.
 
The report is according to Administration officials. A public statement on the issue would be more credible. However, this report likely assures that some part of the third debate will touch on this issue, even as the focus is foreign policy. It will be interesting to see how Governor Romney defines his position on the fiscal cliff.
 
American said:
Aren't the Bush tax cuts expiring anyway? Wouldn't that give them a tax increase?
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Yes it would but it would be for all the tax brackets including the lowest bracket which everyone who pays taxes has to pay.
 
donsutherland1 said:
Some information on the decision can be found at: http://www.law.umaryland.edu/marshall/crsreports/crsdocuments/98-690a.pdf

The actual decision can be found here: Clinton v. City of New York, 524 U.S. 417 (1998)
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Thank you. Great synopsis at Link #1. For others, here's the upshot:

In closing, the Court emphasized three points. First, it expressed no opinion on the wisdom of the procedures authorized in the Line Item Veto Act. Second, the Court expressly declined to address an alternative basis that the district court opinion used to strike down the Act, that it violated the principle of separation of powers because it “impermissibly disrupted the balance of powers among the three branches of
government.”
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I find it's primary reason, bolded above, to be questionable. But that's probably why I wouldn't survive the hearings.
 
This is actually pretty simple here...

If Obama win's, then he can stand on the desk claiming the American People Have Spoken and veto it without much worry and ride the eleciton momentum into demonizing the Republicans for "Causing" the fiscal cliff.

If Obama loses, then he has nothing to lose with basically going "I'll veto it unless...". He'll no longer be running for reelection so there's no worry that it'll hurt his chances to remain in office, so he can basically stick to his guns and go "Either you go my way, or you all will have to deal with this after the new year and after they already are in effect".

This is one of those "Win/Win" situations for Obama as long as the one thing he doesn't care about necessarily is his short term personal image (which could take a hit if he does what I suggested in the "losses" example).
 
American said:
Aren't the Bush tax cuts expiring anyway? Wouldn't that give them a tax increase?
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The gop house put in a bill to extend the bush tax cuts again...
 
MaggieD said:
I find it's primary reason, bolded above, to be questionable. But that's probably why I wouldn't survive the hearings.
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Although the bolded wording might be strong, the line item veto would materially impact the balance of power between the Legislative and Executive Branches. The former enjoys great leverage from incorporating myriad items into legislation that either has to be accepted or rejected as a whole. Under the line item veto, that leverage would disappear, as the President could selectively remove items that might otherwise have survived if the President had to veto the entire bill to kill those items.
 
I believe technically the line item veto was challenged twice. The first challenge was thrown out of court because it had not yet been used so the people did not have standing, and the second challenge won once it was used.
 
Regardless of the politics, I hope we go over the "fiscal cliff". Maybe, just maybe that will start to wake up the vast majority of American citizens who should have been preparing to storm Washington DC with pitchforks and torches for decades now.
 
Tigger said:
Regardless of the politics, I hope we go over the "fiscal cliff". Maybe, just maybe that will start to wake up the vast majority of American citizens who should have been preparing to storm Washington DC with pitchforks and torches for decades now.
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LOL. While I agree that we should go over the cliff, I don't think it will be nearly as disruptive as the phrase implies.
 
Tigger said:
Regardless of the politics, I hope we go over the "fiscal cliff". Maybe, just maybe that will start to wake up the vast majority of American citizens who should have been preparing to storm Washington DC with pitchforks and torches for decades now.
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That sounds like a HS social studies student, or Taliban.
 
ecofarm said:
That sounds like a HS social studies student, or Taliban.
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why is it not instead the response of someone who wants government to be fiscally responsible
 
justabubba said:
why is it not instead the response of someone who wants government to be fiscally responsible
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It's hoping for doomsday and violence.
 
Fisher said:
LOL. While I agree that we should go over the cliff, I don't think it will be nearly as disruptive as the phrase implies.
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I think you might be surprised at the reaction when some people's taxes go up, and other people's support checks go down.

ecofarm said:
That sounds like a HS social studies student, or Taliban.
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No, just someone who constantly hopes that the average American citizen isn't mired as far into the morass of socialism as he thinks they are.
 
Tigger said:
No, just someone who constantly hopes that the average American citizen isn't mired as far into the morass of socialism as he thinks they are.
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Burn it down!!


Yeah, ok. The wood fairies will save me.
 
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