Monday, July 09, 2012

Interesting strategy

By Carl 

First, let me state my preference: in a perfect world, I'd let the Bush era tax cuts-- all three of them-- expire in full. The Clinton tax structure developed 23 million jobs and it was foolish and foolhardy to risk that kind of growth.

Then we could have talked about the fair share of the rich, rather than listen to them whine of how they pay such a proportionately high percentage of a dishearteningly low national tax burden. 

That said... 

CBS News has confirmed that President Obama will call on Congress Monday to pass a temporary, one-year extension of the Bush-era tax cuts for people who make less than $250,000 a year.

The tax cuts are set to expire on January 1. With Monday's announcement, the president is hoping to show voters a very clear difference between himself and Mitt Romney.

For an election year in a sluggish economy, this is not a bad strategy. It does two things: it maintains the tax cuts for the real job creators (the middle class, who own something like 95% of the small business in this nation and created something like 90% of our jobs) while forcing Mitt Romney to defend lower taxes for the wealthy, who clearly do not create jobs, particularly when their money remains in the Cayman Islands or Switzerland

This does force Romney's hand at a time when Congress is in session, albeit a bit on the early side to have much impact in the silly season later. Except that Romney's words had best be chosen very carefully or Obama will use them in the debate.

Obama seems to be a pretty decent lawyer. He's entering evidence now that can be used later at what can only be considered a trial: the Presidential campaign, in which an entire 100,000,000 member jury will weigh each word and then vote precisely how they are told to.

Although, in fairness, people seem to be paying attention already and making up their minds.

In the back of my mind, I see something like $6 to $8 billion being spent by Republicans and their super PAC allies in an attempt to unseat the incumbent. I don't see a lot of jobs being created and I see a romp by Obama in November.

And these are the guys who swear they're smart businessmen?

(Cross-posted to Simply Left Behind.)

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