Will Obama Let All The Bush Tax Cuts Lapse?


What is clear is that, having been tempted to end all of the Bush tax cuts in 2009, the president would only find the idea more attractive were he to win a second term. At that point, he will never again stand before the voters, at least not as a presidential candidate. There would be nothing to stop him from flouting a campaign promise, even one as sensitive as his tax pledge. Meanwhile, after four straight years of trillion-dollar deficits, the pressure to narrow the budget shortfall would be even more intense than it was during his first term.

Not gonna happen. He's not Romney. He means what he says and keeping the tax burden on the middle class stable has been a staple for years. Now, if we had comprehensive tax reform, we could do so much better – lowering rates and raising revenues. And that's a second-term project, as it was for Reagan.