Great news: Left-wing president turns into tax-cutting conservative just before midterms

posted at 7:40 pm on September 2, 2010 by Allahpundit

Why not? Policy-wise, he’s tried Keynesianism, and politically, there are no other options for wooing back a few independents to the Democratic side before November. The left will forgive him if it helps to preserve the congressional majority in the Senate, and since the majority in the House is a lost cause, he’d probably be pushed by the GOP into doing something like this next year anyway. Might as well do it now and take as much of the credit as he can.

With the recovery faltering less than two months before the November congressional elections, President Obama’s economic team is considering another big dose of stimulus in the form of tax breaks for businesses – potentially worth hundreds of billions of dollars, according to two people familiar with the talks.

Among the options are a temporary payroll tax holiday and a permanent extension of the research and development tax credit, say people familiar with the talks who spoke on the condition of anonymity in order to describe private deliberations.

Permanently extending the research credit would cost roughly $100 billion over the next decade, tax experts said. And depending on its form and duration, a payroll tax holiday could let businesses keep more than $300 billion they would otherwise owe the Treasury.

Since prominent lefties like to remind us of how awesomely well Social Security is doing financially, there should be minimal screeching about a temporary revenue shortfall due to a payroll tax cut, no? But wait — that ain’t all.

Worried about the fragile economy and their own upcoming elections, a growing number of Democrats are joining the rock-solid Republican opposition to President Barack Obama’s plans to let some of the Bush administration’s tax cuts expire…

“In my view this is no time to do anything that could be jarring to a fragile recovery,” said Rep. Gerry Connolly of Virginia, a first-term Democrat…

Another freshman Democrat, Rep. Bobby Bright of Alabama, said he would like to see all the tax cuts extended for two or three years, if lawmakers cannot agree on a more permanent plan…

Several Democratic candidates for Senate have also come out in favor of extending them all, including Robin Carnahan in Missouri and Jack Conway in Kentucky.

Coincidentally, Connolly and Bright are extremely vulnerable this year and Conway and Carnahan trail their opponents in red-state Senate races. Which raises the question: If Congress moves to extend the Bush tax cuts even for the rich, will The One dare veto the bill at this point? Or will he break liberal hearts by going back on another oft-repeated campaign promise? I know which way I’m betting.

Via Greg Hengler, assuming this tax-cutting gambit gets tabled, here’s the super-slick economic message they’ll be running on in two months: Um, we shouldn’t have sold the job-creation program known as the stimulus as … a job-creation program.


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This week’s “gravitas” talking point is:

a) No one knew how bad the economy was when Obama became president

b) No one denies the stimulus worked.

I’m hearing those two phrases again and again from a variety of sources both from the WH and from reporters in the MSM.

Boy, you’d think they’re collaborating or something …

B

PackerBronco on September 2, 2010 at 11:20 PM

Folks, the plan is same ole BS- Same game of more Lies, More made up tales, demonizing of citizens and more of the “It’s Bush’s Fault” talk. This Narcissistic Personality Disorder President with his same repeated Lies, I Don’t believe Anything from White House anymore.

sharkman on September 3, 2010 at 12:30 AM

C-R-E-E-P

Hening on September 3, 2010 at 12:38 AM

Obama’s policy dart board is getting a real work out these days.

Mojave Mark on September 3, 2010 at 1:56 AM

Too little, too late, Bams. While today he files his THIRD LAWSUIT against the State of Arizona and its people.

I hope the Repubs take both houses and repeal Obamacare. Obama will have destroyed his party along with his once chance at real reform in the first half of what is hopefully his one and only term.

PattyJ on September 3, 2010 at 2:12 AM

Pardon me while I engage in a little conspiracy-mongering:

Rahm’s about to hand Larry Summers a one-way ticket on Undercarriage Trailways.

The Romer thing, trial balloons for change of policy, it all screams ‘first we need a scapegoat for the last two years of economic failure’ and I figure Larry’s gonna go inspect the axles.

Romer’s not a big enough fish and was pretty much marginalized a while ago. Geithner was too peripheral to the action, he was a tool of the policy, not the driver.

It’s got to be Larry.

JEM on September 3, 2010 at 2:35 AM

Anita, if you had the ability to spin uranium as fast as you’re spinning the economic accomplishments of the Obama Administration, Mahmoud Ahmadinejad would give “you” a job.

Lady, the economy is in the toilet and the unemployment is a key indicator. The stimulus didn’t work. It was money to Donk supporters. It was the government shutting down car dealers that were rival to Donk supporters. It’s a sea of signs on the highway with no work being done behind them.

Now my head is spinning after listening to that.

PS, you guys are the ones that’ll be looking for jobs come November.

hawkdriver on September 3, 2010 at 5:15 AM

I may be wrong, but it was my belief during the ’08 election, that Democrats deliberately tanked the economy to shore up a victory. Think Community Redevelopment Act. Their strategy worked and they seized the opportunity to enact their 60+ year liberal agenda. Now it’s come back and biting them on the ass. They’ve been exposed to people that don’t normally pay attention to politics. My prayer is that this marks a death sentence to the Democrat label.

SoldiersMom on September 3, 2010 at 7:23 AM

Mom, couldn’t agree with you more. Who has been known and able to tank various countries’ economies? Soros. What happened in mid Sept, 2008? A vast withdrawal of funds from money market accounts and other financials, within hours on one day. Very suspicious. Third, Treas. Secy Paulson was a democrap, who had no investment in republicans in an election year. If the repubs take over congress, they better start that real investigation as to what happened and subpoena Soros’ records, cause Obama isn’t going to do it.

eaglewingz08 on September 3, 2010 at 8:00 AM

Bright will say and retract anything to pander to whatever is left of his dwindling ” base ” , he is the target of Anti Pelosi ads and refuses to state his stance on her and or anything else .
Charlie Christ ‘s star crossed twin .
Bright was handpicked because he is ( as mayor made a statement that each citizen should buy a gun and not rely on the POLICE ) pro gun DEM.
NRA should be yanking his ” seal of approval ” any day

ELMO Q on September 3, 2010 at 10:30 AM

Is this one of those famous hard pivots?

roy_batty on September 3, 2010 at 10:55 AM

Even a pedophile can pretend he’s not, when confronted by the police. Democraps campaign like conservatives but once in office, they revert to their gutter spendthrift socialist nature. That voters buy such scams is maddening, if they buy it this year then they deserve the destruction that democraps will wreak upon the economy and their lives. Even the Prophets couldn’t save Israel from destruction despite their best efforts. Republicans should do their best, but ultimately if the people stop self ruling themselves and stop believing in the guiding principles of this country, the most majestic human government ever created will be no more.

eaglewingz08 on September 5, 2010 at 10:15 AM

Comment pages: 1 2