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View Diary: Remember, the Bush tax cuts expire on Dec. 31, 2012 (58 comments)

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  •  lg he *did* use the extension to extend unemplymnt (0+ / 0-)

    Maybe you've forgotten, but that was the deal in December.  
    Your quote is from early September.  Later that month the Dems in Congress caved and agreed not to bring up the tax cut extensions before the November election, scared that the Rs would label them as "increasing your taxes" even on the very wealthy.
    So, in December, with unemployment benefits AND the Bush tax cuts both expiring as of the end of the month, he cut the deal that extended both (AND included a payroll tax cut, AND cleared the way for Congress to repeal Don't Ask, Don't Tell, etc.).
    From the December 7, 2010 Washington Post:

    President Obama and congressional Republicans have reached a tentative accord on a far-reaching economic package that would preserve George W. Bush administration tax breaks for families at all income levels for two years, extend emergency jobless benefits through 2011 and cut payroll taxes by 2 percent for every American worker through the end of next year.
    The scope of the agreement, announced by the White House late Monday, was far broader than lawmakers in either party had been expecting. The deal would extend a college tuition tax credit and other breaks for middle-class families that were due to expire New Year's Eve. And it would revive the inheritance tax after a year-long lapse, imposing a 35 percent rate on estates worth more than $5 million for individuals and $10 million for couples.

    (Emphasis added).
    12/7/10 Wa Po

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