Obama's campaign ads rebuked McCain for giving tax breaks to the rich. But now is Obama going back on that!!! See also, Obama's Pick for Chief of Staff Tops Recipients of Wall Street Money.
Economists From Left and Right Disagree Over Potential Impact of Obama’s Tax Increases-Obama was asked by a reporter, “Mr. President-elect, do you still intend to seek income tax increases for upper-income Americans? And if so, should these Americans expect to pay higher taxes in 2009?”
He responded: “(M)y tax plan represented a net tax cut. It provided for substantial middle-class tax cuts; 95 percent of working Americans would receive them.“It also provided for cuts in capital gains for small businesses, additional tax credits. All of it is designed for job growth,” Obama said.
“My priority is going to be, how do we grow the economy? How do we create more jobs? I think that the plan that we've put forward is the right one, but, obviously, over the next several weeks and months, we're going to be continuing to take a look at the data and see what's taking place in the economy as a whole.
“But, understand, the goal of my plan is to provide tax relief to families that are struggling, but also to boost the capacity of the economy to grow from the bottom up."-Click here for actual 20 minute interview in its entirety but this subject was the very last question and you can fast forward to about 17:30 here http://www.cbn.com/CBNnews/477914.aspx.
I just want to comment on "understand, the goal of my plan is to provide tax relief to families that are struggling, but also to boost the capacity of the economy to grow from the bottom up."-When he says this is he meaning that in order for money to trickle up money must trickle down and so is he elogently really a republican on this issue during this crisis and his campaign on tax increases for the rich really just all about PC until this crisis is over!!!
When I was listening to Obama in the debates I couldn't figure how tax rebates to those not creating jobs or investing into the economy could actually create jobs and boost the investments in business needed for a healthy economy. So I was curious to see how Obama's plan would work out and so I decided to keep a close eye on this and see what happens.
Now there may be a little bit of an unwilling concession that trickle down republican Reagan like economics may be the best plan for saving an economy in this situation which is exactly what Bush tax cuts did in '01 when we were in that recession. So I would like to ask Obama is it really Bush policies that caused this economic crisis if so then why are you doing the same thing any republican president would do? We will have to wait and see what Obama actually does do and I hope for the economies sake he will do this. I can't help to wonder if this little concession helped the economy on Friday to bounce back!!! I really don't know I am just reviewing it to see...
Hats off to ABC this week
ABC this week actually did a good job in asking about this tuff question that I was quite interested in and notice how Obama's Chief of Staff responds!!! Go to 2:35 minutes into the interview!!! I wish ABC this week also asked some questions about Obama's Chief of Staff being the number one recipient of Wall Street money and maybe he did but I couldn't find it again see Obama's Pick for Chief of Staff Tops Recipients of Wall Street Money.
And concerning news coverage on election night
Fox Business Network is not included in these ratings but if you took the two Fox channels Fox was the most watched!!! (Update: 2:43 pm I mis-calculated. Actually MSNBC, CNBC and NBC combined added to the most watched by one name brand not Fox. Rather Fox was in second place when combined!!!) More Than 71 Million Tuned In For Election Night Coverage. Katie Couric (who most conservative find as absolutely biased against conservative views remembering that she equated Dr Dobson and others like him as hate crimers when the Matthew Shephard incident took place blaming the religious for this crime and how her biased reporting on Palin had been when asking about her position on abortion and not Obama's) was the least watched by far from the 3 Big Media networks in ABC, CBS and NBC. MSNBC and CNBC combined was way behind Fox and CNN on the cable side while CNN did take the top cable position.
Just some interesting findings that aren't talked about that much. This is interesting cause I find that out of all the 3 Big Media networks ABC is the most balanced. John Stossel who did shows on 20/20 ABC allowed shows to air that were skeptical of Global Warming, Universal Healthcare, Anti-Capitalism and Government welfare and probabily more. Those are just a few that I remembered watching. And ABC was the top for Big Media viewership!!!
