Surprise! Obama floats new tax cut trial balloon

posted at 11:31 am on October 27, 2012 by Ed Morrissey

As I noted in my earlier column for The Fiscal Times, we’ve now gone more than 570 days into the Barack Obama Re-Election Campaign.  On Day 568, Obama finally deigned to produce a second-term agenda — a document so unserious and insubstantial that its release served to underscore his desperation rather than enlighten anyone on his approach to the next four years.  Even the media scoffed at the collection of recycled 2008 campaign promises and the utter lack of detail on his sloganeering.

Clearly, that didn’t do anything to revive Obama’s chances on the campaign trail, especially not with Mitt Romney hammering home his closing argument on jobs and the economy.  Therefore, on Day 574 — and late in the evening on a Friday — Obama finally got around to floating a tax-cut trial balloon:

The White House is weighing the idea of a tax cut that it believes would lift Americans’ take-home pay and boost a still-struggling economy, according to people familiar with the administration’s thinking, as the presidential candidates continue battling over whose tax policies would do more for the country.

Obama administration officials have concluded that the economy, while improved, is still fragile enough that it may need another bout of stimulus. The tax cut would replace the payroll tax cut championed by President Obama in 2011 and 2012, which was designed as a buffer against economic shocks such as the financial crisis in Europe and high oil prices. It expires at year’s end.

The new tax cut could provide hundreds of dollars or more a year to workers and show up in every paycheck. It may be similar to a tax cut Americans received in 2009 and 2010, which provided up to $400 for individuals and $800 for married couples, sources close to the administration said.

When I wrote on Thursday that Obama was out of gas intellectually and politically, I had no idea that he would prove me right again so soon.  This is nothing more than the gimmicky approach that has utterly failed already under Obama — twice.  This is a regurgitation of the Making Work Pay tax cut, passed in 2009, which was supposed to touch off a boom in consumer spending by allowing people to keep roughly $20 a week more from their paychecks.  It’s also the same kind of approach as the payroll-tax holiday passed at the beginning of 2011, which was also supposed to boost consumer spending and kick-start the economy into high gear, and which has failed equally.  (And let’s not forget that George Bush tried the same kind of “tax cut” stimulus in early 2008, with exactly the same amount of success.)

Clearly, giving consumers an extra $20 a week isn’t going to restart the engine of job creation in this economy — something that should be obvious by now.  The problem in this economy isn’t that consumers aren’t spending, it’s that investors aren’t investing.  One of the key reasons investors won’t put capital at risk is because of their inability to price that risk with any certainty, thanks to the short-term, gimmicky approach to taxes combined with the long-term and still ambiguous costs of Obama’s regulatory expansion. Instead of offering a third round of Cash For Consumers (fourth if you count Bush), the US needs long-term tax and regulatory reform so investors can once again rationally price risk for a 2-3 year period.

This is nothing more than an act of desperation, a trial balloon that attempts to sponge off of Romney’s media attention to the economy and jobs.  And as Morrissey’s Axiom of Politics and Dating states, desperation is not an aphrodisiac.


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Shocked!

50sGuy on October 27, 2012 at 11:35 AM

That can’t compete with a $500 trillion tax cut, man.

forest on October 27, 2012 at 11:36 AM

Despite all his hot air (as opposed to Hot Gas), I don’t think this balloon will fly.

Flange on October 27, 2012 at 11:37 AM

Clearly, giving consumers an extra $20 a week isn’t going to restart the engine of job creation in this economy

Especially when that 20 bucks is swallowed up and surpassed many times over by the cost of gas and groceries.

RW_theoriginal on October 27, 2012 at 11:38 AM

More small ball from the Diet POTUS.

Curtiss on October 27, 2012 at 11:38 AM

Wake me when he mentions repealing Obamacare and about 500 trillion other laws.

IlikedAUH2O on October 27, 2012 at 11:38 AM

This won’t move one single vote.

Curtiss on October 27, 2012 at 11:40 AM

What good is a payroll tax cut to the 23 million people who are not getting a paycheck?

natasha333 on October 27, 2012 at 11:41 AM

Same ol’.

davidk on October 27, 2012 at 11:41 AM

Are we sure it’s a balloon?

It may be a trial prophylactic.

listens2glenn on October 27, 2012 at 11:43 AM

WOW he is desperate.

gophergirl on October 27, 2012 at 11:43 AM

I love the smell of desperation in the morning …

ShainS on October 27, 2012 at 11:44 AM

Barry already have a cash for vote program through Nov 6. After that, how about another cash for clunkers program, chump?

bayview on October 27, 2012 at 11:44 AM

Just more of the same. The people are being bought by a Marxist/socialist administration and mislead or kept in the dark by a left wing pandering media. Slavery can occur in many forms and this is one of them. When the government reinforces and controls your behavior your free will has been forfeited and you are in fact, enslaved.

rplat on October 27, 2012 at 11:44 AM

Obama doesn’t understand what a paycheck is, what a salary is, what taxes really are…

He is a total dumbf*&@…

tom daschle concerned on October 27, 2012 at 11:44 AM

Don’t accept the premise.

tom daschle concerned on October 27, 2012 at 11:45 AM

WOW he is desperate.

gophergirl on October 27, 2012 at 11:43 AM

desperate…and out of ideas

right of the dial on October 27, 2012 at 11:45 AM

This a$$hat doubles down with a hard 16 against the dealers 10. With our money.

VegasRick on October 27, 2012 at 11:45 AM

But… but… tax cuts are baaaaad. This is gonna add to the deficit, restrict our ability to invest in teachers and infrastructure… blah, blah, blah.

Hill60 on October 27, 2012 at 11:45 AM

Obama doesn’t understand what a paycheck is, what a salary is, what taxes really are…

He is a total dumbf*&@…

tom daschle concerned on October 27, 2012 at 11:44 AM

THIS

gophergirl on October 27, 2012 at 11:45 AM

Are we sure it’s a balloon?

listens2glenn on October 27, 2012 at 11:43 AM

It is a balloon from a buffoon.

bayview on October 27, 2012 at 11:46 AM

Ed, I still don’t like green room at top of page. Just saying……

UncleZeb on October 27, 2012 at 11:46 AM

On this horrible snake bho, have you seen what they are using kids for now to get parents to vote bho? This makes me so mad I could spit!

http://www.therightscoop.com/ugh-indoctrinated-lib-kids-sing-about-how-horrible-the-world-will-be-if-we-dont-reelect-obama/
L

letget on October 27, 2012 at 11:47 AM

Wow, I may have to give this Obama another look, now. That’ll put about 5 gallons of gas a week in my truck. Holy sh!t, that’s about 60 miles a week. This is a man with a plan.

TXUS on October 27, 2012 at 11:47 AM

20 bucks. Cool. Now in addition to my Obamaphone and birth control…he’s paying for my smokes. Thanks Preezy!!!I loves you.

CW on October 27, 2012 at 11:51 AM

Clearly, giving consumers an extra $20 a week isn’t going to restart the engine of job creation in this economy — something that should be obvious by now.

Yeah that $20 went right into the gas tank!

GarandFan on October 27, 2012 at 11:51 AM

The War on Poverty has now advanced from the poor to the middle class.

Forward!

JoeHanson on October 27, 2012 at 11:53 AM

Next: Obama promises to repeal ObamaCare.

darwin on October 27, 2012 at 11:54 AM

I am against this. However if you actually want a tax cut then keep the payroll tax cut already in place.

gerrym51 on October 27, 2012 at 11:54 AM

Why does anyone believe anything this fool say’s?

He SAID he would cut the deficit in HALF his first term…

He added TRILLIONS …

He SAID Obama Care would Lower the cost of healthcare, LIE.

His actions will ensure a HUGE TAX increase starting in 2013.

And he want’s you to now believe he is a deficit cutting Tax cutting proponent?

The guy is a serial liar. end of story.

How freaking STUPID are almost half of the American population..

If that latest commercial which I rate as possibly the dumbest in history, you know the ignorant chick one running now, is any indication of what resonates with the today’s leftist voter then they are far far dumber than even I thought..

matter of fact I am going to get my daughter to sit down and watch it and tell me what she thinks… If she likes it , which I doubt as she is NOT an obama supporter I will freak…

RockyJ. on October 27, 2012 at 11:55 AM

Ed, I still don’t like green room at top of page. Just saying……

I think trying to encourage more green room posts,

gerrym51 on October 27, 2012 at 11:56 AM

Who is even listening to him anymore? His constituents of race-obsessed blacks, gullible Hispanics who are dumb enough to believe he’ll do amnesty if they vote for him, the union thugs ( teachers included), moronic actors and other artsy types and all of the recipients of government handouts are already in the tank for him. That leaves what simply has to be a tiny number of “undecided voters” ( who, if they haven’t decided by now, should not be allowed to vote). Are they the ones he thinks are going to appreciate this weak tea?

natasha333 on October 27, 2012 at 11:57 AM

“This huge tax break for the middle class is the best idea to surface this campaign season. Twenty dollars a week is manna from heaven to the peasants. This will create more jobs in 6 months than Romney can create in 8 years. Happy days will be here again. I am getting a tingle up both legs just thinking about it.”
Chris Matthews-MSNBC

(Not an actual quote, but you know he wants to say it.)

kam582 on October 27, 2012 at 11:57 AM

This stooge has never had a job where he watched the clock and punched in and out. He has never had to provide value to his employer to prove that he was worth hiring. He is worthless…an adolescent in a suit acting like an adult…acting like an individual at a job.

He is an ignoramus when it comes to the economy.

He is an Alinsky devotee and a devout marxist.

tom daschle concerned on October 27, 2012 at 11:58 AM

We have now entered the kitchen sink phase.

ANYTHING. PLEASE.

“Vote for Obama. It’s like you’re first time!”

“Vote for Obama. The Repubs have a 500 Trillion dollar tax cut!”

“Vote for Obama. He’ll cut your taxes!! No really!!”

Andrew Ferguson has a great article about what the last few weeks of the Bush 41 campaign was like. Compared to Obmama it smells very familiar!

http://weeklystandard.com/articles/george-herbert-walker-obama_657916.html

itsspideyman on October 27, 2012 at 11:59 AM

What a fake. He did the same thing with drug legalization.

rickv404 on October 27, 2012 at 11:59 AM

Buck Ofama.

Liam on October 27, 2012 at 11:59 AM

Obama and his crew know that the election is lost – if they didn’t then why would they keep throwing this stuff out in an attempt to retake some (any!) momentum. Anyone else notice that Obama seems sick lately? He’s hoarse on the trail, his rhetoric is small and getting smaller and his demeanor betrays someone that looks defeated. They employ the best pollsters in the world – they know which way the wind is blowing. I thought that he would lose anyway but this Benghazi thing really capsized whatever chance he may have had.

volnation on October 27, 2012 at 11:59 AM

If he wants to spur hiring, let him except any new hires starting today from Obamacare. That’s blasphemous, so of course he won’t do it.

slickwillie2001 on October 27, 2012 at 11:59 AM

On this horrible snake bho, have you seen what they are using kids for now to get parents to vote bho?

letget on October 27, 2012 at 11:47 AM

I was wondering where the brain washed 0bamakids were this election.

Rebar on October 27, 2012 at 12:00 PM

supposed to touch off a boom in consumer spending by allowing people to keep roughly $20 a week more from their paychecks.

… as RW said, this isn’t going to kick off any kind of boom, the best it will do is maybe catch some selected folks up to the additional amounts they are paying for gas, food, groceries, and utilities. In addition, you know it is going to be a “targeted” tax cut so that only a select group of taxpayers get this benefit while higher wage earners are going to be cut out of the cut. Any bets that to be “fair” there is going to be some kind of “credit” for those who don’t pay taxes to re-distribute more money to them as well?

AZfederalist on October 27, 2012 at 12:00 PM

On this horrible snake bho, have you seen what they are using kids for now to get parents to vote bho? This makes me so mad I could spit!

http://www.therightscoop.com/ugh-indoctrinated-lib-kids-sing-about-how-horrible-the-world-will-be-if-we-dont-reelect-obama/
L

letget on October 27, 2012 at 11:47 AM

Oh yeah a bunch of kids calling out their parents acting like they know better. That will certainly play well. All it shows is that they are even more desperate than even I thought.

MobileVideoEngineer on October 27, 2012 at 12:02 PM

Does $20 even cover a family of four at McDonalds anymore?

gophergirl on October 27, 2012 at 12:03 PM

Our Duck Commander is clueless.

Wigglesworth on October 27, 2012 at 12:04 PM

Does $20 even cover a family of four at McDonalds anymore?

gophergirl on October 27, 2012 at 12:03 PM

It depends. My wife and I don’t have kids yet, but when the two of us go and get what we normally get it’s $14.

MobileVideoEngineer on October 27, 2012 at 12:06 PM

Must be the all the president’s men aren’t buying Nate Silver’s 75% guarantee of success. Which is interesting because, why is Silver still pushing it if the men in the know … know?

Pride? Can’t admit his Magical Mystery Model has a clanking gears that have been greased with crap? Has a secret deal with Intrade?

I keep wondering when Silver’s going to start looking at Nov. 6. It’s gotta happen soon or he’s going to look like a bigger asp* than he already is.

*And yes, asp is not a typo

MaxMBJ on October 27, 2012 at 12:06 PM

This stooge has never had a job where he watched the clock and punched in and out. He has never had to provide value to his employer to prove that he was worth hiring. …

tom daschle concerned on October 27, 2012 at 11:58 AM

But, his lovely wife had a very important & demanding $300K/year job that has given them keen insight into the issues faced by all working stiffs!

KS Rex on October 27, 2012 at 12:08 PM

Tax cuts? What can we expect is they’re losing the day before elections–Obamacare waivers for Registered Democrat voters?

I need quiet vacation in Benghazi or somewhere nice to get away from this evil deceit.

Don L on October 27, 2012 at 12:08 PM

Hey, gang, I’m saving screenshots of 538 from here on out. Should be fun to put in the old “Memories 2012″ book. Today it says 74.4%.

Tee hee hee. 74.4% Ho ho ho. 74.4%. Chuckle chuckle chuckle.

MaxMBJ on October 27, 2012 at 12:10 PM

So now does he have to reprint his Second Term Agenda Coloring Book???

BigWyo on October 27, 2012 at 12:10 PM

Do or say anything to distract from the Murderer-in-chief’s Bloody Hands. The pointless effort in trying to act like POS in the White House cares about anyone but himself, is a joke. This animal needs to go & he needs to be indicted for his TREASON, which caused the Deaths of 4 American!
A New Addendum & Link to:How to take on the Obama Jihadi media & Win:http://paratisiusa.blogspot.com/2012/09/an-open-letter-to-those-who-should-know.html?spref=tw

God Bless America!

paratisi on October 27, 2012 at 12:10 PM

Does $20 even cover a family of four at McDonalds anymore?

gophergirl on October 27, 2012 at 12:03 PM

Sure with the dollar menu. If you get a real sandwich, fries, and a drink it is about 6-7 bucks a person.

CW on October 27, 2012 at 12:11 PM

Has a secret deal with Intrade?

I keep wondering when Silver’s going to start looking at Nov. 6. It’s gotta happen soon or he’s going to look like a bigger asp* than he already is.

*And yes, asp is not a typo

MaxMBJ on October 27, 2012 at 12:06 PM

Intrade is an absolute joke. Romney’s numbers are surging and the number keeps going up for obambi. Even if you had a foriegn CC you could not get more than $50 or so bet on it. They are a tool.

VegasRick on October 27, 2012 at 12:11 PM

Does $20 even cover a family of four at McDonalds anymore?

gophergirl on October 27, 2012 at 12:03 PM

Nope. Normal order for my family of four at any fast fooder routinely tops $20 these days. Usually closer to $25. Go to a sit down restaurant and it’s usually $50.

Mr. D on October 27, 2012 at 12:12 PM

This $20/week tax cut proposal should gain him those last few people who weren’t won over by his assertion that a six-year-old girl thinks Romney is a bullsh—er.

86 on October 27, 2012 at 12:12 PM

letget on October 27, 2012 at 11:47 AM

It was funny that the blog put a donate to Romney icon at the bottom.

Cindy Munford on October 27, 2012 at 12:12 PM

But, his lovely wife had a very important & demanding $300K/year job that has given them keen insight into the issues faced by all working stiffs!

KS Rex on October 27, 2012 at 12:08 PM

She was irreplaceable. No replacement for her.

VegasRick on October 27, 2012 at 12:13 PM

Joe Biden: “They say we’re going to raise taxes! We sure are!”

Marcus on October 27, 2012 at 12:13 PM

Don’t you have to have a job to take advantage of the extra twenty bucks in your pay check?

Cindy Munford on October 27, 2012 at 12:15 PM

No, this is only way to let Hot Air know we do not like the change!

UncleZeb on October 27, 2012 at 12:17 PM

as an aside that making work pay credit, the 400/800 credit was SUPPOSED to be an offset to higher fuel prices from his cap and trade scheme. so it was never intended to put “money in your pocket”. it was supposed to put money back in that they had already taken. net net -0-.

President Barack Obama’s budget proposal estimated that a cap and trade system would produce $645 billion in revenues. More than $525 billion would go into a “making work pay tax credit,” with the aim of offsetting higher energy costs. The remainder would go to green technology and renewable energy investments.

http://www.politico.com/news/stories/0409/21528.html

t8stlikchkn on October 27, 2012 at 12:18 PM

I still can’t believe that Obama won in 2008. He is such a frickin’ clown…

ghostwriter on October 27, 2012 at 12:19 PM

Cindy Munford on October 27, 2012 at 12:15 PM

you can always dust off your medicaid card. go to your nearest clinic. see a provider. then get a $25.00 check for your troubles.

renalin on October 27, 2012 at 12:19 PM

Well, this won’t work. How long until the missiles start flying and blowing up aspirin factories in the M.E.?

Left Coast Right Mind on October 27, 2012 at 12:21 PM

Maybe he’ll just hand out $20 worth of condoms, with a free Chevy Volt, and an Obamaphone to be named later?

Don L on October 27, 2012 at 12:22 PM

On another thread, I indicated that changing or abolishing the Electoral College is a silly proposal. However, I think that we should consider shortening the time between Election Day and the Inauguration.. We shouldn’t have to wait over two months to replace a failed incumbent that has been defeated for reelection. This clown has no clue and no ideas….

ghostwriter on October 27, 2012 at 12:23 PM

It’s like making a sequal to a movie that tanked.

Hey li’l bammie….ever wonder why nobody made Ishtar 2….?

Tim_CA on October 27, 2012 at 12:23 PM

I wanna know who these economists are that think the payroll tax cuts added hundreds of thousands of jobs and a point to GDP.

BKeyser on October 27, 2012 at 12:26 PM

LOL.

Tax returns! = fail
Big BIrd! = fail
$5 Trillion tax cut! = fail
Binders! = fail
Lady Parts! = fail
Bayonets! = fail
Gloria Allred! = fail
Tattooed lesbian fantasizing about getting deflowered by obama in the voting booth! = fail
Phony tax cut! = fail

obama = fail.

Pork-Chop on October 27, 2012 at 12:28 PM

Therefore, on Day 574 — and late in the evening on a Friday — Obama finally got around to floating a tax-cut trial balloon:

Are we sure this isn’t an attempt to distract from the fact the he, or someone in his administration, ordered 4 Americans be allowed to die?

NotCoach on October 27, 2012 at 12:30 PM

obama = fail.

Pork-Chop on October 27, 2012 at 12:28 PM

True, but he did rip osamas head off with his own 2 hands and personally destroyed al quida and brought total peace to the ME. Wait, what?

VegasRick on October 27, 2012 at 12:31 PM

So this wasn’t included in Barry’s Trapper Keeper with color pictures in it?

forest on October 27, 2012 at 12:32 PM

Tattooed lesbian fantasizing about getting deflowered by obama in the voting booth! = fail

:)

RedWinged Blackbird on October 27, 2012 at 12:33 PM

Are we sure this isn’t an attempt to distract from the fact the he, or someone in his administration, ordered 4 Americans be allowed to die?

NotCoach on October 27, 2012 at 12:30 PM

Clearer.

VegasRick on October 27, 2012 at 12:33 PM

$20 is less than 1/3 of a tank of gas. With gas so high, I’m worried about the price of oil to heat my home for the winter. They mark the price up, it ends up being more per gallon than super premium unleaded gas.

The Obama campaign reeks o desperation, it’s fun to watch. I want to see O lose and we know he will be a sore loser, especially because he hates Mitt Romney with a vengeance. Mitt has to win, and I think O will be too sick to attend his inauguration if he does win.

I honestly think that Dick Cheney faked a bad back and had the wheelchair on Obama’s inauguration day, and I applaud VP Cheney for it. He shouldn’t have to stand fora man like O who has no respect for the office of POTUS.

carolt2 on October 27, 2012 at 12:34 PM

renalin on October 27, 2012 at 12:19 PM

Bummer, I don’t have a job or a medicaid card. Doesn’t that make me some kind of protected minority yet?

Cindy Munford on October 27, 2012 at 12:36 PM

Are we sure it’s a balloon?

listens2glenn on October 27, 2012 at 11:43 AM

…JugEars gets confused with balloons…and condoms!

KOOLAID2 on October 27, 2012 at 12:36 PM

A SCOAMF has got to SCOAMF.

jukin3 on October 27, 2012 at 12:36 PM

Clearer.

VegasRick on October 27, 2012 at 12:33 PM

President Gutsy Call is happy to let others do his dirty work. The communication chain may have ended with Valarie Jarrett and gone no further. Which of course doesn’t excuse him from blame. In fact it may make him even more culpable. If he is letting his replacement mother make important decisions, why is he even there?

NotCoach on October 27, 2012 at 12:36 PM

Must be the all the president’s men aren’t buying Nate Silver’s 75% guarantee of success. Which is interesting because, why is Silver still pushing it if the men in the know … know?

Because they want the rioting to begin in unison on election night.

ardenenoch on October 27, 2012 at 12:38 PM

President Gutsy Call is happy to let others do his dirty work. The communication chain may have ended with Valarie Jarrett and gone no further. Which of course doesn’t excuse him from blame. In fact it may make him even more culpable. If he is letting his replacement mother make important decisions, why is he even there?

NotCoach on October 27, 2012 at 12:36 PM

I got ya. The buck stops there with this a$$hole.

VegasRick on October 27, 2012 at 12:39 PM

Because they want the rioting to begin in unison on election night.

ardenenoch on October 27, 2012 at 12:38 PM

I pity the idiots that pick me and my family.

VegasRick on October 27, 2012 at 12:40 PM

If he wants to buy votes, what he really needs to do is give a $20 rebate for proof of voting for him.
Maybe they could start to attach stubs to the ballots- mail it in and get your rebate.
He can claim that it’s for gas money or a bus ticket for poor people who would otherwise be disenfranchised.

justltl on October 27, 2012 at 12:41 PM

Say, there’s an Obama ad auto playing on here!
Seriously.
I’m glad that they are spending their money wisely.
I know that that ad certainly convinced me to vote for the cree…err… President.

justltl on October 27, 2012 at 12:45 PM

Must be the all the president’s men aren’t buying Nate Silver’s 75% guarantee of success. Which is interesting because, why is Silver still pushing it if the men in the know … know?

Pride? Can’t admit his Magical Mystery Model has a clanking gears that have been greased with crap? Has a secret deal with Intrade?

I keep wondering when Silver’s going to start looking at Nov. 6. It’s gotta happen soon or he’s going to look like a bigger asp* than he already is.

*And yes, asp is not a typo

MaxMBJ on October 27, 2012 at 12:06 PM

Interesting question. Leaving aside the polling data, just looking at what each campaign is doing ought to tell you who is winning. There’s an old adage (from football, I think): If you’re making adjustments, you’re losing. If you have to scrap your game plan after the game starts, then things aren’t going how you hoped they would.

IMO, Silver and his little model is way overrated.

ghostwriter on October 27, 2012 at 12:46 PM

It depends. My wife and I don’t have kids yet, but when the two of us go and get what we normally get it’s $14.
MobileVideoEngineer on October 27, 2012 at 12:06 PM

Dude…

Buy stock in McDonalds as a hedge against the thousands and thousands of dollars that will be spent on Chicken Happy Meals that you will happily buy as a small price for the few minutes of silence

turfmann on October 27, 2012 at 12:46 PM

President Gutsy Call is happy to let others do his dirty work. The communication chain may have ended with Valarie Jarrett and gone no further. Which of course doesn’t excuse him from blame. In fact it may make him even more culpable. If he is letting his replacement mother make important decisions, why is he even there?

NotCoach on October 27, 2012 at 12:36 PM

I had forgotten about the so-called “gutsy call”. I guess that it just goes to show how somebody who thinks that a no-brainer is a gutsy call reacts when a real, honest-to-goodness gutsy call is needed.

ghostwriter on October 27, 2012 at 12:49 PM

This is a regurgitation of the Making Work Pay tax cut, passed in 2009, which was supposed to touch off a boom in consumer spending by allowing people to keep roughly $20 a week more from their paychecks. It’s also the same kind of approach as the payroll-tax holiday passed at the beginning of 2011, which was also supposed to boost consumer spending and kick-start the economy into high gear, and which has failed equally.

After the second debate (I think), in which Obama seemed to claimed that he’d lowered middle-class taxes $3,600 a year, someone at NRO broke this misrepresentation down. In truth, $2,000 of that figure represented two years’ worth of the payroll tax reduction (estimated at a reduction of $1,000), while $1,600 of that figure represented two years’ worth of Obama’s Make Work Pay credit ($800 a year for a married couple). Both were two-year gimmicks.

This clown couldn’t run a lemonade stand. Why can’t so many people see this?

BuckeyeSam on October 27, 2012 at 12:49 PM

I pity the idiots that pick me and my family.

VegasRick on October 27, 2012 at 12:40 PM

I’m going with the classics:

My 40′s vintage double-barrel 16 gauge and a vintage 1911 will be on standby…..I love L.A.

I’m in an old school mood this election.

Tim_CA on October 27, 2012 at 12:50 PM

Obama fooled many voters with that bullsh*t way back in 2008. He must think a majority of voters are stupid enough to fall for that gag again. We’ve got your number this time, Jerk, so: Bye Bye, Dear Leader Obama the Islamist.

rpjkw11 on October 27, 2012 at 12:51 PM

Gee whiz, doesn’t our President have cue sized balls

SmallGovtGuy on October 27, 2012 at 12:51 PM

Gee whiz, doesn’t our President have cue sized balls

SmallGovtGuy on October 27, 2012 at 12:51 PM

I was thinking more like a cue sized tip brain.

NotCoach on October 27, 2012 at 12:53 PM

O/T Did anyone see where Fauxahontas had pulled ahead by six in MA. What they heck?

Cindy Munford on October 27, 2012 at 12:54 PM

Gee whiz, doesn’t our President have cue sized balls

SmallGovtGuy on October 27, 2012 at 12:51 PM

Yes, for mini pool.

bayview on October 27, 2012 at 12:54 PM

Gee whiz, doesn’t our President have cue sized balls

SmallGovtGuy on October 27, 2012 at 12:51 PM

Even these are too big

AZfederalist on October 27, 2012 at 12:55 PM

He’s been screaming for tax increases for 2 years and now he wants a tax cut. Hmmm.

Presnit Pivot!

Key West Reader on October 27, 2012 at 12:55 PM

O/T Did anyone see where Fauxahontas had pulled ahead by six in MA. What they heck?

Cindy Munford on October 27, 2012 at 12:54 PM

I noticed Rasmussen has her at 52% in his latest poll of the race.

NotCoach on October 27, 2012 at 12:57 PM

I’m going with the classics:

My 40′s vintage double-barrel 16 gauge and a vintage 1911 will be on standby…..I love L.A.

I’m in an old school mood this election.

Tim_CA on October 27, 2012 at 12:50 PM

Mossburg 500
Springfield XDM 9mm
Walther PK 380
M1 Enforcer
………
So many options.

VegasRick on October 27, 2012 at 12:57 PM

More lying from the WH. They have no clue what any story is anymore. Romney/Ryan!!!!!

BetseyRoss on October 27, 2012 at 12:57 PM

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