Obama faces recriminations from NYTimes lefty OpEds

[jiimbergin]

Re: Obama faces recriminations from NYTimes lefty OpEds

From here:

http://www.cnn.com/ELECTION/2010/res...s/#val=USH00p3

Bush-Era Tax Cuts Should Be Continued For...
Total
Democrat
Republican
Other/No Answer

All Americans (40%)	14%	84%	2%
Families Under $250,000 (36%)	64%	32%	4%
No One (15%)	75%	22%	3%

Also, Rasmussen polls have recently been known to have a marked conservative bias:

http://fivethirtyeight.blogs.nytimes...rmed-strongly/

Thanks for your sources.

[we_are_toast]

Re: Obama faces recriminations from NYTimes lefty OpEds

Disagree. There are real differences among the two parties, but with respect to the financial elite there are little or none.

Obama has a situation before him where he cannot lose. Can. not. lose. The public supports expiration of the Bush tax cuts. The Dems in Congress can just do nothing and let them expire. And Obama can veto any GOP attempt to extend them with impunity, if he'd just care to argue for that position, and get a big political win. And yet he has already strongly hinted that he will support an extension of the tax cuts.

You give me a better explanation.

The politics of this situation are more complicated. If all the tax cuts expire, the Republicans will scream bloody murder that the Democrats raised taxes on the middle class. And when the Republican propaganda machine of Fox News/talk radio gets wound up, it's a very difficult fight. Also, the Dems went from winning the Independents by 8% in 2008 to losing by 15% in 2010. Rumor has it the Presidents advisors are looking at the Bill Clinton 1994 midterm loss and his subsequent shift to the right and the triangulation and compromise approach he took. Obviously it worked for him. Most others are suggesting that he should take the approach Truman did after his 1946 midterm losses. That approach would be much more combative.

Given the past 2 years, many rank and file Dems have very little confidence in the political abilities of the White house advisors. Many would argue that there was not a shift of 12% of the Independents, but rather, a large % of Independent supporters from 2008 simply stayed home. A recent CNN poll shows that 9% of the people who disapprove of Obama's performance, do so because they don't think he's liberal enough. I think that can be translated to mean they think he's gutless and won't fight for the issues that the base supports.

There are several approaches that would make the Bush tax cut issue a political winner. 1) Let them all expire and immediately reintroduce a cut for the middle class. 2) Divide the extension into 2 separate parts and pass the middle class extension then fight on the rich extension.

I am in full agreement with you that this would be a political win, IF Obama has the guts to fight for it. But for 2 years now, he has acted more like the Junior senator from Illinois than the leader of the free world. As Krugman, Rich, myself, and millions of others have pointed out, and as the Socratic method might suggest, this president is a true believer in compromise and is not a fighter for principle.

It's appearing more and more that there will be civil war within both parties in the months ahead. There are plenty of rank and file Dems who are looking for a primary opponent for Obama while many of the Dem leaders are trying very hard to stop such talk.

Unemployment extensions, Bush tax cuts, and the cat food commission report, are all coming up fast and will be very telling as to whether Obama will continue his present approach, or if he'll wise up and grow a couple.

And you're right about the Rasmussen polls.

[snakela]

Re: Obama faces recriminations from NYTimes lefty OpEds

Both miss the point entirely. Obama and the Democrats aren't wimps who need to grow some balls, they are totally owned placeholders for the oligarchy.

Krugman isn't? This looks like more political theater to keep us rubes distracted. BTW, did you see that dress Michelle Obama bought in India? Or that Sara Palin has a TV special on the discovery channel?!

[Sharky]

Re: Obama faces recriminations from NYTimes lefty OpEds

With regard to the tax cuts, people seem to forget that total tax revenue actually went up after the Bush cuts, and most if not all cuts before that. Raising taxes is not about raising revenue; it's about social engineering and egalitarianism.

[Munger]

Re: Obama faces recriminations from NYTimes lefty OpEds

With regard to the tax cuts, people seem to forget that total tax revenue actually went up after the Bush cuts, and most if not all cuts before that. Raising taxes is not about raising revenue; it's about social engineering and egalitarianism.

Yea, it was amazing that after a recession tax revenues would eventually go up.



Generally accepted estimates of the maximum on the Laffer curve is 70%. We are nowhere near close to that.

[Ibsen]

Re: Obama faces recriminations from NYTimes lefty OpEds

Deaf to history rhyme: why president Obama is failing.
Not new to the members of this Forum, but well said.

http://blogs.ft.com/economistsforum/...ng/#more-12566

[dcarrigg]

Re: Obama faces recriminations from NYTimes lefty OpEds

Yea, it was amazing that after a recession tax revenues would eventually go up.



Generally accepted estimates of the maximum on the Laffer curve is 70%. We are nowhere near close to that.

Thank you Munger. Quick translation of the above: revenues go up as a recession ends, not in response to tax-cuts. Gaining revenue by lowering taxes generally only happens when tax rates are over 70%. The rest of the hype is supply-side voodoo econ.

[BiscayneSunrise]

Re: Obama faces recriminations from NYTimes lefty OpEds

There is a certain lack of balls too. They just don't enjoy the fight as much as the other side.

During the campaign there was much made of candidate Obama's lack of executive experience, i.e 3AM wake up call, etc. Since his inauguration there has been some talk about his being cool and aloof to the extreme. The infamous press conference this week, where he handed the reins to Bill Clinton, will be seen as the defining moment of his presidency.

Not to debate the merits of the tax extension now, but after President Obama signed on to them he completely lacked the stones to stand up for what he did. It's one thing to be cool, it's another to be completely detached. The Republican Congressional majority now sense serious weakness in the White House and will likely abuse him mightily over the next two years.