The Bush-era tax cuts for those earning more than $250,000 will expire at the end of this month. They are history. They will not be restored. I will veto any measure that extends those tax cuts. If Congress sends me a bill that extends the Bush tax cuts for all taxpayers, I will veto it. If Congress attaches an extension or reenactment of the tax cuts for those earning more than $250,000 to a defense-authorization bill, I will veto it. If Congress attaches an extension or reenactment of the tax cuts for those earning more than $250,000 to a bill raising the debt limit, I will veto it. I trust that I have made myself clear. It is time for Congress to get on with the business of the nation, to pass measures that will be effective in bringing the nation out of recession and in starting to plan how we are going to deal with our huge load of debt once the economy is strong again. It is past time to talk about tax cuts for those who can well afford to pay a little more for the benefits that they receive from this nation.
Wednesday, December 01, 2010
What the President should say
Last night, I suggested that President Obama should announce that he will veto any extension of the Bush tax cuts for those earning over $250,000. On thinking about it, he should be more clear. Here is the kind of thing he should say: