Streams

Obama's Public Fiscal Cliff Appeal

Wednesday, December 05, 2012

President Barack Obama holds a news conference in the East Room of the White House. (Getty)

Josh King, director of production of presidential events under President Clinton and host of the podcast "Polioptics" on Sirius XM satellite radio, details how President Obama is staying in "campaign mode" during the fiscal cliff negotiations, and whether it's having the intended effect.

Guests:

Josh King
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Comments [11]

Joe Mirsky from Pompton Lakes NJ

Old Leave It to Beaver episodes got you nostalgic for the placid and prosperous Eisenhower era? Hold on to your wallet. Here are the income tax rates from 1952. Wow! 92%!
Taxable income after deductions, 23 brackets consolidated to 13 to save space. Figures in today's dollars, adjusted for 8X inflation.

Tax % From $ To $
22.2 0 16,000
24.6 16,000 32,000
29 - 34 32,000 64,000
38 - 42 64,000 96,000
48 - 53 96,000 128,000
56 - 59 128,000 160,000
62 - 66 160,000 208,000
67 - 68 208,000 304,000
72 - 75 304,000 400,000
77 - 80 400,000 560,000
83 - 85 560,000 720,000
88 - 91 720,000 1,600,000
92.0 1,600,000

Dec. 06 2012 10:20 AM

@Chris we need to Audit the Fed...something RON PAUL has been talking about for 35 years

Dec. 05 2012 10:24 AM
Kate from Washington Heights

The cop who helped the homeless guy is saintly, but it begs the question: why is our society allowing there to be homeless guys without shoes on the street?

Dec. 05 2012 10:23 AM
Chris from Welfare for Banks

16.1 Trillion $ Federal Reserve since 2007

Rather than go past the revenue maximizing peak tax rate of 18% (flat to 28% above which revenue drops) for capital gains, let's lower the ordinary income tax on wages and ordinary income to the revenue maximizing 18% (including the 15% to Social Security, leaving 3% for the income tax).

We can save more than the entire present tax revenues by not giving welfare to super rich bankers:

Federal Reserve gave $16.1 Trillion since 2007 to:
Citigroup: $2.5 trillion ($2,500,000,000,000)

Morgan Stanley: $2.04 trillion ($2,040,000,000,000)

Merrill Lynch: $1.949 trillion ($1,949,000,000,000)

Bank of America: $1.344 trillion ($1,344,000,000,000)

Barclays PLC (United Kingdom): $868 billion* ($868,000,000,000)

Bear Sterns: $853 billion ($853,000,000,000)

Goldman Sachs: $814 billion ($814,000,000,000)

Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)

JP Morgan Chase: $391 billion ($391,000,000,000)

Deutsche Bank (Germany): $354 billion ($354,000,000,000)

UBS (Switzerland): $287 billion ($287,000,000,000)

Credit Suisse (Switzerland): $262 billion ($262,000,000,000)

Lehman Brothers: $183 billion ($183,000,000,000)

Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)

BNP Paribas (France): $175 billion ($175,000,000,000)

Federal Reserve's nearly 100 year history was posted on Senator Sander's webpage.
http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

Dec. 05 2012 10:18 AM

The Gvt is too large. Shrink it and lower taxes.

Dec. 05 2012 10:09 AM
halloran

"Barack Obama ushered in America’s first large-scale experiment in personality-cult politics."

Hilarious, Martin C! No such cult for Ronnie Reagan of course. And then there was Bush I's triumphant entry into Panama, and GWB's codpiece.

One could well understand hatred of Obama for his policies, even forgetting that much of the Republican base, no doubt including Martin C., regards ANY Democratic president as illegitimate. And of course many on the left despise Obama for his cave-ins and blue dog tendencies.

But the self-delusion and the hypocrisy, from the Republican right -- you guys really take the cake. It can only be hoped that the march of U.S. demographics continues to marginalize your sort.

Dec. 05 2012 09:55 AM
Vern from Harlem

Given all humiliating compromises of the first two years of Obama's first term, I'm glad the prelude to his second term he's beginning with conviction rather than humility. I hope he stays his ground, breaks the Republican Party in half, thereby restoring a viable conditions for moderation to once again thrive in public discourse.

In case Ed and Martin have forgotten how humble and pliable Obama was in the face of Republican intransigence, here's a summary of some of his earlier bi-partisans compromises, which have arguably lead to the fiscal mountain-of-a-molehill:

• Although Obama was advised that in order to bring unemployment under control, a stimulus package in the order of $1.2 trillion was needed, Obama's opening bid was on the order of $700 billion dollars. He then negotiated a package that was made up nearly half of unstimulative tax cuts.

• Rather than proposing Medicare For All, and then perhaps compromising on a health care reform package with a strong public option, Obama began with a health care plan modeled on Republican proposals originally set out by Bob Dole and implemented by Mitt Romney in Massachusetts, then made backroom deals to give away the public option and to ban Medicare from negotiating lower drug prices.

• Rather than demanding that the Bush tax cuts on the wealthiest Americans expire at the end of 2010, Obama began his negotiations with Republicans by offering to extend the Bush tax cuts on everyone. Instead, he could have demanded the Bush tax cuts on the wealthiest Americans expire, and if Republicans failed to vote for this and allowed all the tax cuts to expire, gone to the American people and forced the Republicans to renew only the middle class tax cuts in the lame duck session.

• Obama's negotiations on the debt ceiling with Republican hostage-takers who threaten to blow up the economy if they don't get their way has been the most egregious of all. He offered up a plan made up of 75% spending cuts to 25% "revenue increases" (God forbid, not tax increases). When Republicans remained intransigent, he offered a plan with less than 10% revenue increases.

Dec. 05 2012 09:51 AM
john from office

Ed and Martin, the nuts come out of the woodwork as soon as Obama is mentioned. Don't forget to mention the "death Panels" and that Obama was born in africa. Lets be consistent guys! Oh Oh OH and that he is a muslim, never forget that one.

Dec. 05 2012 09:35 AM
Martin Chuzzlewit from Manhattan

Obama on Autopilot: The President Can’t Stop Campaigning

"Barack Obama ushered in America’s first large-scale experiment in personality-cult politics. And so the New York Times reports today that with the “fiscal cliff” looming and the need for negotiations with Republicans, Obama is… hitting the campaign trail. 'He will travel beyond the Beltway at times to rally public support for a deficit-cutting accord that mixes tax increases on the wealthy with spending cuts'."

"The president knows one thing: campaigning, and so that’s what he does even when he’s got no more elections to win. No doubt he’ll have his slogans at the ready, as he leaves Congress to figure all this fiscal stuff out while he basks in the glow of a shallow adoration."

http://www.commentarymagazine.com/2012/11/12/obama-on-autopilot-the-president-cant-stop-campaigning/

Dec. 05 2012 08:31 AM
Martin Chuzzlewit from Manhattan

Who said this?

"Maybe peace would have broken out with a different kind of White House, one less committed to waging a perpetual campaign--a White House that would see a 51-48 victory as a call to humility and compromise rather than an irrefutable mandate."

It was Little Barry Obama on page 20 of his 2006 “book” Audacity of Hope”-
President 50.4% himself.

http://books.google.com/books?id=4vlcQZU6mwQC&pg=PA20#v=onepage&q&f=false

Dec. 05 2012 08:29 AM
Ed from Larchmont

President Obama probably wouldn't mind going over the fiscal cliff. He gets to raise taxes and get more income, he gets to cut the military budget more than would otherwise be possible, and he would be able to blame the Republicans (who have made a realistic offer which the president dismissed and increased the amount of tax income he required).

Dec. 05 2012 05:35 AM

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