Obama Announces He’s to the Left of Pelosi
“President Obama today announced that he supports a one-year extension of the Bush tax cuts for those making under $250,000, a plan that puts him at odds with House Minority Leader Nancy Pelosi (D-Calif.) and Sen. Chuck Schumer (D-N.Y.), each of whom back extending the tax cuts for people making up to $1 million.
Obama’s plan will sock the country with a huge tax increase even as the economy continues to stagger.
It’s bad economics, but the Obama people have calculated that it’s good politics for a politician waging class warfare. Obama will be able to sock Republicans and Mitt Romney for backing tax cuts “for the rich” and “holding hostage” his populist proposal for a “middle class tax cut.””