In less than two months, the income taxes for all Americans will rise substantially unless Congress acts to stop this from happening. President Obama has really done nothing to prevent this tax rise.
In 2008, Obama campaigned ad nauseum for making permanent the current tax rates for those making under $250,000 per year so that the rise would hit only those Obama called the rich. Anyone who paid even partial attention to the presidential campaign would recall Obama’s promise that tax rates for those making under $250,000 per year would not rise. Here we are, nearly two years later and nothing has been done. That’s right, the Democrats have not even proposed a bill to deal with the scheduled rise in tax rates.
At his news conference yesterday, Obama finally said that the tax rates need to be dealt with by the upcoming lame duck session of congress. He is correct; congress needs to act or the US will likely slip back into recession once these tax increases hit. It is critical that Congress resolve this matter quickly.
The upcoming lame duck session is expected to last about ten days until the House and Senate adjourn for Thanksgiving, after which there will be a wait until the new congress takes office before anything can happen. So where is Obama? He is off to India and other countries on a trip that will keep him out of the country for a while. Obama has scheduled a meeting with the congressional leadership for November 18th to discuss the tax rates as well as other things. It is really outrageous conduct by Obama. Even though lack of action may push the US back into recession, Obama is leaving the country and will not even meet with the congressional leadership until a day or so before the final adjournment for the year.
Where is Obama’s leadership? Where is his commitment to getting the tax rates set to the levels he promised? Does he even care that his inaction may well lead to another recession?
The sad thing is that Obama may be shell shocked after the drubbing that he took in Tuesday’s election. Obama remains the president of the United States, however, and you would think that he would at least try to do right by the country. In truth, Obama is a disaster.
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