Unfortunately, Obama Probably Isn’t Going to Raise Your Taxes

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

Noam Scheiber says that deep in his heart, President Obama doesn’t just want to let the Bush tax cuts for the rich expire, he wants to let all of the Bush tax cuts expire:

In the fall of 2009, Obama’s chief congressional lobbyist, Phil Schiliro, touted a clever idea for dealing with the tax cuts: introduce a bill that would extend the middle-class cuts for two years while allowing the upper-income portions to expire. After two years, the middle-class cuts would also expire unless Congress paid for them with off-setting savings or tax increases.

Schiliro figured that, if the bill passed, the whole mess of tax cuts was likely to disappear when all was said and done….At first, Schiliro’s plan went nowhere—in truth it was as much a stunt as a serious proposal. But Schiliro had an important ally: Peter Orszag, the president’s budget director….By November 2009, Orszag had become so fond of the idea that he insisted on presenting it to the president in the Oval Office. Orszag’s fellow wonks were cool to the plan, having heard him and Schiliro sing its praises repeatedly. But the administration’s chief wonk—Barack Obama—was intrigued.

I would be delighted if this were true, but this reporting seems really, really thin to me. I mean, what’s the evidence here? In a single meeting over a year ago, budget hawk Peter Orszag presented an idea and Obama….listened. That’s it. Scheiber says Obama was “intrigued,” but the plan never went anywhere, and Orszag, of course, is no longer part of the administration. It’s never come up again, and Obama has apparently never so much as mentioned it since November 2009.

“What is clear,” says Scheiber, “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.” But no: that’s not clear at all. Obama wouldn’t have to worry about reelection, but every single Democratic member of Congress still would, so the political calculus really wouldn’t change much at all.

This is making a mountain out of a molehill. Staffers have ideas all the time. Sometimes they get a chance to present them to the president. The president usually listens politely, rather than screaming at them never to mention it again. That’s all that seems to have happened here.

Which is too bad. Ditching the entire set of Bush tax cuts really is the only way we’ll ever get the long-term deficit under control. If I had my way, we’d phase out the whole mess, maybe by thirds starting in 2013. But I’ll bet the president doesn’t agree, more’s the pity.

FOLLOW THE MONEY

Corporations and billionaires don’t fund journalism like ours that exists to shake things up. Instead, support from readers allows Mother Jones to call it like it is without fear, favor, or false equivalence.

And right now, a longtime friend of Mother Jones has pledged an incredibly generous gift to inspire—and double—giving from online readers. That's huge! Because you can see that our fall fundraising drive is well behind the $325,000 we need to raise. So if you agree that in-depth, fiercely independent journalism matters right now, please support our work and help us raise the money it takes to keep Mother Jones charging hard. Your gift, and all online donations up to $94,000 total, will be matched and go twice as far—but only until the November 9 deadline.

$400,000 to go: Please help us pick up the pace!

payment methods

FOLLOW THE MONEY

Corporations and billionaires don’t fund journalism like ours that exists to shake things up. Instead, support from readers allows Mother Jones to call it like it is without fear, favor, or false equivalence.

And right now, a longtime friend of Mother Jones has pledged an incredibly generous gift to inspire—and double—giving from online readers. That's huge! Because you can see that our fall fundraising drive is well behind the $325,000 we need to raise. So if you agree that in-depth, fiercely independent journalism matters right now, please support our work and help us raise the money it takes to keep Mother Jones charging hard. Your gift, and all online donations up $94,000 total, will be matched and go twice as far—but only until the November 9 deadline.

$400,000 to go: Please help us pick up the pace!

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate