Obama to call for Bush tax cut extensions for those making $250,000 or less
July 9th, 2012
08:25 AM ET

Obama to call for Bush tax cut extensions for those making $250,000 or less

WHITE HOUSE (CNN) - President Barack Obama is expected to call on Congress to pass a one-year extension on the Bush-era tax cuts for people earning less than $250,000 a year.

A White House official said Obama will make the announcement Monday at the Rose Garden, surrounded by working people.

In addition, a campaign official said the campaign will "amplify the president's message on middle-class tax cuts" by hosting a series of events in battleground states all week across the country.

In Las Vegas, for example, local elected officials will discuss Obama's efforts to fight for the middle class, the campaign official said. In Colorado, Aspen Mayor Mick Ireland, Colorado Democratic Party Chair Rick Palacio and state Sen. Gail Schwartz will hold a press conference to discuss the contrasting economic visions of Obama and presumptive GOP presidential nominee Mitt Romney.

On Sunday, a top adviser for Obama's re-election campaign said the president was entirely dedicated to ending the so-called Bush tax cuts for the wealthy at the end of this year.

"He is 100% committed to it," Robert Gibbs said on CNN's "State of the Union."

For the full story, click here.


Topics: President Obama • Tax cuts • The News

soundoff (61 Responses)
  1. RealityBites

    Without the HUGE healthcare tax.., Obama is Bush.

    July 9, 2012 at 9:29 am |
    • jean2009

      It is a healthcare tax if you don't purchase health insurance .. but if you don't you will also be one of thos deadbeat freeloaders living off the rest of us....which you always want to whine about.

      July 9, 2012 at 12:20 pm |
      • John

        Jean, that is the Lib Dem line. You expect to add how many more people to be covered?? All for free? How many more IRS Agents? All free? How about the billions in taxes in the bill itself (other than the tax penalty)?
        Many blind lib followers think what Obama says (and you said here) about costs and Obamacare are true. It simply does not pass the smell test.

        July 9, 2012 at 1:06 pm |
      • Kool-Aid Police

        You mean just like you?

        July 9, 2012 at 1:40 pm |
      • jerry

        they said in 2009 obama care would add 40-50 million people on health insurance. The real number is about 12 million. Of those 12 million how many just don't want to buy health insurance? Anyway, there are about 330,000,000 Americans so lets nationalize (or begin the nationalization) of health care in America for 12,000,000...does THAT make sense? Considering private health insurance works very well and is managed actuarially while medicare and medicaid are underfunded and full of graff and waste and funded with taxes on private health insurance in part... obama care is a scam, a scam the leftist have been perpetuating for decades on the hard working American taxpayer. God help us.

        July 9, 2012 at 4:21 pm |
      • Howard

        When Romney realized that Romney care was not the answer, he changed course ... but, Obama has decided to double down on his failed policies. While Democrats point out similarities between the federal health care law and the one Romney implemented in Massachusetts, others note Obama's raises 21 taxes, Romney's raised none.

        July 10, 2012 at 1:48 am |
      • John

        Romney care was less than 200 pages. Obamacare is over 3000 now and they are talking thousands more pages as they write all the new policies that need to be created as a result of this crazy bill. We have turned healthcare into the IRS. Just great....

        July 10, 2012 at 1:01 pm |
      • jean2009

        John if they are buying an insurance policy I don't see it as anyone as getting a free ride on my premium. I'm already basically paying a $1000 a year more in premiums to cover the freeriders. The bill is the same legistation that the Swiss have used for years....it is the identical plan proposed by Richard Nixon and Ted Kennedy low those many years ago, and is the same as Romenycare....which also has a (Penalty/Mandated/Tax).

        Seems the only reason you are whining is the fact that you will finally be required to buy your own insurance.

        July 10, 2012 at 6:47 pm |
  2. RealityBites

    Somewhere in Texas.., Bush is smiling.

    July 9, 2012 at 9:30 am |
    • jean2009

      Somewhere in Texas a village has its idiot back.

      July 9, 2012 at 11:41 am |
      • Kool-Aid Police

        So you're from Texas then?

        July 9, 2012 at 12:16 pm |
      • jean2009

        No.... Ohio we have enough dealing with our own idiots..the tangerine man and K'sick

        July 9, 2012 at 12:22 pm |
      • John

        Jean, the idiot con man is in the WH. People are just now starting to realize this.

        July 9, 2012 at 1:07 pm |
      • jean2009

        No... John the idiot con-man is trying to get into the White House...so he can repeat the Bush fiasco.

        July 10, 2012 at 6:49 pm |
  3. Jay in NC

    "Betting on America" and he is in Las Vegas. Now that is just too funny.

    July 9, 2012 at 9:45 am |
    • Voice of Reason

      Obama needs to stop gambling with US economy. He has proven he does not know what he's doing.

      July 9, 2012 at 11:37 am |
    • Cynthia L.

      What IS funny IS that Mormons decry GAMBLING yet, Mr. Mitt, for all the world to see, was hoping he could engage a fellow debate participant with, " I'll bet you TEN THOUSAND DOLLARS!"
      He got away with it, I guess – Special undergarments must of been the reason..

      July 9, 2012 at 3:01 pm |
      • Frank Marshall Davis

        Are you the same Cynthia that doesn't work and posts on ABC all the time?

        July 9, 2012 at 5:17 pm |
      • Cynthai L.

        No. But, because you post all the time, does that mean you don't have a job either?

        July 9, 2012 at 9:02 pm |
  4. SoBeach

    Republicans will not allow an extensions unless the tax cuts for those making over $250,000 are also extended. And that's probably what will happen.

    At some point people will realize that tax cuts for the wealthy have done the exact opposite of what they were intended to do. They didn't create jobs and they didn't stimulate the economy. And they're not going to. Sorry. The idea looked good on paper 15-20 years ago, but it just hasn't worked. It's about time we stop kidding ourselves and live in the real world.

    July 9, 2012 at 10:24 am |
  5. JoeAverage

    It is said that the legacy of a great president is not in the polices that he passed but in those policies his predecssor leaves in place. Obama heart Bush's legacy..

    July 9, 2012 at 10:53 am |
  6. alex chapman

    The Bush Tax Cuts for people(Corp. included) did NOT create jobs. It may be part of the Repub. DNA, but it DOESN'T work !

    July 9, 2012 at 11:00 am |
    • Obama Sucks

      And yet..

      1) The unemployment rate DID shrink after the tax cuts.
      2) The "Bush tax cuts" mostly went to the MIDDLE CLASS.
      3) And the real kicker.. federal revenues actually INCREASED afterwards.

      July 9, 2012 at 11:22 am |
      • alex chapman

        Started the Deficit snow ball rolling down the hill. The Rich(Job Creators) did not reinvest their extra capital into the Country they claim to love so dearly.

        July 9, 2012 at 11:32 am |
      • jean2009

        Actually that is not true. Tax cuts did not produce jobs...the evidence and proof is in the pudding. Job never went back up to the higher growth rate under Clinton once the tax rate was cut.

        George W. Bush's eight year trickle down experiment of tax cuts that favored the 1% came to a disasterous conclusion when jobs started melding at the rate of 11,400 per day in 2007 and through 2008.


        The answer is a resounding NO!....trickledown failed under Harding, Hoover, Nixon, Reagan, and Bush ...and truth be told it would have failed under Goldwater too.

        July 9, 2012 at 12:15 pm |
      • Anilkumar

        Bookslinger, once again you missed the point of my litlte joke. But to respond to your earnestness in kind, it really is a litlte irresponsible to throw around terms like regime change where they don't belong.From Wikipedia: Regime change can occur through conquest by a foreign power, revolution, coup d'c3a9tat or reconstruction following the failure of a state. Regime change may replace all or part of the state's existing institutions, administrative apparatus, bureaucracy and other elements. As you can see, regime change usually refers to some kind of violent overthrow of the existing order. If Obama takes power it will be through a peaceful election. And Obama is campaigning, among other things, on the promise to restore to their previous condition many of our constitutional and legal traditions, that have been willfully ignored or trampled on by the radicals now in power.

        July 30, 2012 at 11:12 pm |
    • jean2009

      Trickle down never works...even Reagan's Budget Czar said as much.

      July 9, 2012 at 11:43 am |
      • Kool-Aid Police

        Doesn't seem like Obama's way has worked either. I guess he'll just have to eliminate the congress and become dictator, that's what you want, isn't it?

        July 9, 2012 at 1:43 pm |
      • Cynthia L.

        Republicans like to 'piss down your leg' and call it a flood when a little bit of it pools in your shoe.

        July 9, 2012 at 3:04 pm |
      • Cynthai L.

        Kool, you are hearing those demonic voices in your head again – the funny part is that you think they have Russian accents and want to french kiss the poster of Putin in your bedroom.

        July 9, 2012 at 11:07 pm |
      • Jake

        why do you speak badly of Reagan. He was the best president we ever had.

        YOUR CHOICE.

        ROMNEY 2012 & 2016

        July 10, 2012 at 10:57 am |
      • jean2009

        Reagan the worst president of my 77 years....followed closely and soon to be surpassed by George W. Bush.

        July 10, 2012 at 6:52 pm |
      • C-Lo

        @ Jean: "Reagan the worst president of my 77 years....followed closely and soon to be surpassed by George W. Bush"
        Just goes to show that you are either completely off your rocker or a bigger partisan hack/Commie (yes I am directly accusing you of being a hammer and sickle pinko) than anyone else out there.
        "soon to be surpassed"? What are you waiting for? You hate Bush with a passion that rivals Satan incarnate. What is keeping Reagan at the bottom for you? Maybe it's the fact that he was responsible for ultimately telling your hero to "tear down this wall." Is that it? Or is it the fact that he turned the economy around from the peanut galler....sorry farmer? Maybe it's the fact that he was one of the most beloved presidents in your 77 nihilistic years of existence (save maybe Kennedy). What about Nixon–oh yeah Reagan was MUCH worse than Nixon.

        July 12, 2012 at 2:47 pm |
  7. John

    He is "betting on America"? He bet on green energy and lost billions. He bet on people loving Obamacare after it was passed and people are just as against it now as they were before.

    July 9, 2012 at 11:25 am |
    • jean2009

      Over the long haul of about 8-10 years (the exact amount of time it will take to recover from the Bush depression) green enery will be where America is at: Green, clean, renewable...solar, wind,and wave...and high-speed train.

      You can forget those 25-30 bills the house wants to call jobs bills. Bills which when you go read the legislation are nothing but deregulations of legislations that were put in place to protect Americans from hazardous materials.

      The GOP is honed in on producing the same amount of pollution as China ( pollution which is visable from outer space). The GOP wants to allow multi-national corporation to pollute the drinking water, air quality, and tillable land here.

      I guess the GOPteaNAZIS want things so we won't need to purchase poisoned dog food and baby formula from China...so we can produce our own here.

      So yes, with President Obama at the helm I am "betting on America"....and not praying for an America fail like you.

      July 9, 2012 at 12:01 pm |
      • Kool-Aid Police

        Do you know how hilarious you sound? Calling people nazis and saying they actually want dirty water and air. So if your neighbor is a republican he/she is automatically a nazi? You seem highly paranoid.

        July 9, 2012 at 2:04 pm |
      • jerry

        obama has waisted a half trillion dollars investing in green companies that are failing at the rate of about one a week. If obama just gave this money to the wage earners in America we would not have to pay ANY energy bills for decades...you idtiot!

        July 9, 2012 at 4:24 pm |
    • CammieB

      Better than betting on Bermuda, Swiss, and Cayman islands...

      July 9, 2012 at 2:58 pm |
  8. Voice of Reason

    Increasing taxes is a silly political ploy. Why would tax payers want to give more money to the spend thrift government.

    July 9, 2012 at 11:38 am |
  9. California

    Obamacare increased the middle class taxes and now they want to continue class warfare. The hypocrisy is simply asounding.

    July 9, 2012 at 1:03 pm |
    • California


      July 9, 2012 at 1:04 pm |
    • demwit


      July 9, 2012 at 1:36 pm |
    • Cynthai L.

      You should know about 'class warfare' – it's probably what you do with your custom-made spit-wads and left over peas from the cafeteria.

      July 9, 2012 at 11:14 pm |
  10. California

    Sounds like the communists in the White House can't keep their hands out of others pockets.

    Typical crooks.

    July 9, 2012 at 1:12 pm |
    • Cynthai L.

      Is that why they won't let you take a tour?

      July 10, 2012 at 10:03 am |
  11. John

    Amazing – how can anyone consider voting for the con man in the WH??? Even when libs think they are not raising taxes they give us the biggest tax increase in history. Now, the spaz in the WH wants to reimplement more taxes on people and business at 250K+?
    Why can't libs see how lost Obama and his political hacks are?

    July 9, 2012 at 1:12 pm |
  12. California

    Interesting how the senate tables all house bills (playing obstrutionists) while blaming everyone else (as usual).

    July 9, 2012 at 1:18 pm |
  13. jerry

    obama, you can't find your hind end with both hands! Romney is a self made man with a very impressive resume. The American dream, a man who started a venture capital firm and became a success. He graduated from both Harvard Business School AND Harvard Law school at the same time, in 1975 in the top 5% of his class. His father was also a wealthy self made man...his estate which was inherited by Mitt Romney was given to charity. Gov Romney's educational records are available and there are no black out periods in his past... Every time obama opens his mouth it is to enhance his power and get reelected...this tax the wealthy will not help the country or solve our huge debt problem...it is to garner votes. The time has come to elect a president who will act in the interest of America...no more soap box/snake oil salesmanship.

    July 9, 2012 at 4:35 pm |
    • jean2009

      You mean he is a self-made man like Bernie Madoff with other people's retirement savings.

      July 10, 2012 at 6:55 pm |
    • jean2009

      Records unavailable for banking though.

      July 10, 2012 at 6:57 pm |
      • Steveo

        You mean like "somebodiy's" college records?

        July 11, 2012 at 12:56 pm |
      • C-Lo

        Careful Steveo–you might hit a nerve with "do as I say..." crowd. And Jean, no, Romney is nothing like Soros, er I mean Madoff. I may not be a big fan of his, but even the local newspaper's front page photo was of Romney in a food bank WORKING. And if you happen to look at the photo http://www.denverpost.com/politics/ci_21048248/mitt-romney-energizes-base-grand-junction-colo (apparently the on-line editor doesn't think it necessary to show a presidential candidate working) you will notice that the people around him are not there for him to grand stand, but they are all involved in DOING SOMETHING rather than photo ops, political posturing and providing tired rhetoric.

        That being said, I do applaud Obama for at least having his cabenet look into allowing US Forest Service firefighters access to federal health insurance–though if he was so gung-ho about it in 2010, WHY IS IT JUST NOW THAT THESE FOLKS ARE BEING CONSIDERED for the insurance???? More of "do as I say" coming from DC or just political posturing to woo a few more votes? He's not concerned about you, me, the firefighters or anyone else but his own re-election. Timing is EVERYTHING.

        July 11, 2012 at 1:48 pm |
      • Steveo

        What's up C-Lo!? I just shared the truth! Hope you're well, C-Lo!

        July 11, 2012 at 2:05 pm |
  14. Frank Marshall Davis

    Obama only studied the constitution so that he could find loopholes in it.

    July 9, 2012 at 5:18 pm |
  15. ourjungle

    Stop the lip service...Extend all of the Bush Tax Cuts for 5 years, put a moratorium on all Federal spending increases,excluding national defense,for the next 5 years,and freeze military cuts for the next 5 years. Our Nation needs time to re-group.

    July 10, 2012 at 1:32 pm |
  16. hermes96

    What I do not get, is the rich can buy US bonds, and have them deducted from their paychecks, and not pay taxes on that money till they cash them in...so they can cut their taxes in the current year, and buy 1 year, or 5 year, US Bonds and put that tax off to the future, and even roll them over and buy new bonds and again defer the taxes till later, and also at the same time help fund our national deficit, and keep the deficit owned by Americans, not foreign buyers....Ironic...By the way Americans own about 80% to 85% of our deficit...

    July 10, 2012 at 6:47 pm |
  17. italmn

    This is to thoese of you who do NOT like the Presidents vision and direction of this country then do NOT come here and spew out your poison on the rest of us.Take your position to the polls and vote just like the President says.The majority of the people of this country will support him as they did back in 2008 if not even more so now because of people like you.This man has made History and it really urkes you and people like you,because your political party didn't get the job done in 70 years.Well it is OVER and you need to go somewhere that makes you happy and live. He's a great President and we will continue to move forward with you or with out you period.

    July 12, 2012 at 1:56 pm |
    • C-Lo

      Yeah, that's right...Tell us to shut up. Tell us that public discourse is poison. Yell and scream about someone having a vision for this country that involves PERSONAL RESPONSIBILITY. Whine about those of us who work and pay taxes to support a further deepening nanny state. Stand up for a Gov't that wishes to control your life. Show us that you believe the American Dream involves sitting around waiting for someone to correct the mistakes you make. Tell us how proud you are to live in a country that is actually discussing limiting what you can and cannot eat/drink and using unmanned drones to enforce it.

      It's because of people like YOU that we need to come out and try to show you that there are some in this country who still believe in its citizens–who believe that WE THE PEOPLE can stand on our own two feet. WE THE PEOPLE are intelligent enough to decide if we want a 16 or 24 oz soda at the movies. WE THE PEOPLE are resilient enough to recover from poor decisions and make better ones in the future. WE THE PEOPLE can determine if a company is corrupt and take them to court or shut them down. WE THE PEOPLE can be ultimately responsible for our own lives, give to our neighbors directly, lend a hand when needed.

      WE THE PEOPLE are intelligent and self sufficient when allowed to be.
      If this is poison and hate, then so be it.

      It's no wonder libs support abortion...they have no idea what it takes to raise a child to become a self sufficient adult!

      July 12, 2012 at 3:00 pm |
      • Sasha5542

        Yes but WE THE PEOPLE includes ALL PEOPLE, even those who work two jobs and can't afford health insurance, live in bad neighborhoods and can't find a job. WE THE PEOPLE includes everyone, and you so quickly blame them for their circumstances by saying that it is their PERSONAL RESPONSIBILITY! I love what you said about giving to our neighbors directly, lending a hand. Are you lending a hand and giving to your neighbors, because from where I'm sitting, it looks like the Republicans want to give tax cuts to the wealthy and cut funding toward social programs. For those families out there that can't find jobs or afford food, do you think they are not WORTHY of receiving benefits to help them survive? And we wonder why there is class warfare out there...well its always been there, but now its coming to the surface.

        And as for your comment about abortion, all I have to say is if men had to have babies there wouldn't even be a conversation about abortion, because you can be sure they would maintain their right to choose.

        August 5, 2012 at 2:41 pm |
  18. russinmaine

    Mr. President what is it that you are ashamed of or do not want to share with the citizens of the United States?

    Occidental, Columbia, and Harvard College records...SEALED
    Columbia Thesis Paper.....SEALED
    Selective Service Registration...SEALED
    Medical Records..SEALED
    Illinois State Senate Records....SEALED
    Law Practice Client List......SEALED
    Signed Embossed original paper Certificate of Live Birth....SEALED
    And then there are those Fast and Furious Documents also still...SEALED

    That is a lot of secrets being guarded by a man that asked to lead the greatest nation on earth? Question is, why? And to think you have convinced your shrinking loyal believers that Mitt Romney's tax returns are important information that needs to be released. This Sir is hypocrisy at its best!
    Sign Me,
    A Concerned Citizen.

    August 29, 2012 at 9:46 pm |
  19. Harry

    Romney days are numbered to OUT from this 2012 election.He is famous for his flip flops and changing stands in issues within a eye blink .He can not be trusted. In foreign policy and foreign relation he is illiterate.Its time for him to share ideas with Sarah Palin He is good in creating wealth and not good in creating jobs in USA.His tax records are good for his BAIN CAPITAL BUDDIES.Voters can not trust this guy anymore.So 2012 sure win is OBAMA-BIDEN .

    October 23, 2012 at 2:11 pm |