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

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

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

    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 &lsquo;fiscal cliff&rsquo; without tax hike for rich - The Washington Post



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

    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.

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

    Aren't the Bush tax cuts expiring anyway? Wouldn't that give them a tax increase?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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    Re: Obama ready to veto a bill blocking ‘fiscal cliff’ without tax hike for rich

    Quote Originally Posted by treedancer View Post
    Kinda looks like BO,s getting ready for some hardball.

    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



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

    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.

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

    Quote Originally Posted by MaggieD View Post
    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.
    wasn't that found to be unConstitutional?
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    Re: Obama ready to veto a bill blocking ‘fiscal cliff’ without tax hike for rich

    Quote Originally Posted by justabubba View Post
    wasn't that found to be unConstitutional?
    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.
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    Re: Obama ready to veto a bill blocking ‘fiscal cliff’ without tax hike for rich

    Quote Originally Posted by justabubba View Post
    wasn't that found to be unConstitutional?
    Yes, I remember it being part of the Contract with America. They tried giving it to Clinton, and it was struck down.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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

    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.

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

    Quote Originally Posted by American View Post
    Aren't the Bush tax cuts expiring anyway? Wouldn't that give them a tax increase?
    Yes it would but it would be for all the tax brackets including the lowest bracket which everyone who pays taxes has to pay.

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