Anonymous
Anonymous asked in Politics & GovernmentElections · 8 years ago

Didnt Pres. Obama extend the bush tax cuts ?

I hear him blaming repulicans for not reducing on our nations debt by letting the bush tax cuts expire, but I think he was the one who extended the tax cuts (these are cuts that I personally disagree with) but why did he extend them if he did?

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  • 8 years ago
    Best Answer

    Obama allowed the tax cuts to be extended as part of a compromise. Obama has always been willing to compromise. It takes two parties to either agree or disagree. Basically the Republicans said "Extend the Bush tax cuts, then we'll talk."

    But now we've come to a different situation. The Super Committee wasn't able to hammer out an agreement. So at the beginning of 2013, whoever is president then, there will be automatic cuts. At the end of 2012 the Bush tax cuts will expire automatically. If the Republicans want to extend them, they will have to write a special law to extend them, and that law will also have to find 2 trillion dollars in spending cuts to pay for them. And (according to the agreement) the cuts can't come from SS or Medicare or fed. govt. pensions or unemployment benefits. And in order for the cuts not to lapse, the Republicans will have to be arguing for them at the height of the presidential election next year.

    As i said, it takes two parties to not reach an agreement, but Obama has been much more willing to deal, to compromise, than the Republicans. Since Obama got elected the Republicans' whole platform has been to limit him to a single term. And they see making any kind of deal with him as being counterproductive to that goal, because ANY deal they make, even if Obama gives up a lot of stuff, makes the Republicans look weak. So Obama has jeopardized his standing in his own party by offering to put SS and Medicare on the table, but the Republicans have turned down every opportunity to make a deal with him. And that's why Obama signed the extension of the Bush tax cuts, so the Republicans couldn't say he just wanted to raise taxes.

  • 8 years ago

    Yes president Obama extended the Bush tax breaks with the understanding that it would expire in 2013 .

  • engman
    Lv 4
    3 years ago

    i'm helping Obama in his signing of the extension of the Bush Tax Cuts (in spite of if he has began calling them the Obama tax cuts). As a conservative, i might have enjoyed to be certain them made everlasting, yet with the democrats on top of issues for somewhat longer, you're taking what you will get. as a good distance by way of fact the treaty, that is going to possibly be supported as quickly as they have had time to truly see what it says. a million/2 of the ingredient is in Russian and that i might wish any lawmaker might make valuable they understand what's in it in the previous they vote. we've seen what a large number it is while lawmakers "Vote for the bill to be certain what's interior the bill." (Nancy Pelosi).

  • 8 years ago

    The Republicans held the country hostage, unemployment and the tax cuts for the rest of us.

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  • 8 years ago

    He should not have extended the tax cuts. He should not have compromised aka caved with Republicans. He did it because they were not going to extend unemployment benefits. He should have called their bluff.

  • fishn
    Lv 5
    8 years ago

    Yes he did & it was his biggest mistake

    He did it on the belief that the top 2% would invest in America & speed up the recovery.

    Obviously they did not but they certainly did in China,Japan & India

  • Anonymous
    8 years ago

    that is when they became the OBAMA tax cuts.

  • Anonymous
    8 years ago

    Yes.

    He also expanded the Patriot Act and escalated the failed war in Afghanistan.

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