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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: MJ who wrote (95044)	11/11/2010 1:17:03 PM
From: Hope Praytochange	1 Recommendation Respond to of 224750

Odumbama Open To Temporary Extension Of Tax Cuts For Wealthy 11/11 10:54 AM WASHINGTON (Dow Jones)-- Barack Obama is open to accepting a temporary extension of Bush-era tax cuts for the wealthy to ensure the middle class tax breaks are preserved, White House Deputy Press Secretary Bill Burton said Thursday. Obama's top priority is ensuring the middle class get tax breaks, Burton said in an email, but he is willing to compromise with resurgent Republicans to get that done. Obama "has also expressed concern about the cost of making the highest income tax cuts permanent and is looking forward to discussing this and other issues with bipartisan congressional leaders next week," Burton said. A senior adviser to the president, David Axelrod, told the Huffington Post Wednesday that temporarily extending tax cuts for the wealthy appears to be the only way to get support for permanently extending the breaks for the middle class. That admission reflects the new political climate now that Republicans control the House. "We have to deal with the world as we find it," Axelrod told the Huffington Post. Republicans said they welcome the Obama administration's willingness to compromise but suggested they still want the tax cuts for the wealthy to be permanent. "Republicans made a pledge to America to permanently stop all of the tax hikes scheduled for January 1st," said Michael Steel, a spokesman for the likely next House leader, Rep. John Boehner (R., Ohio), in a statement. The debate over taxes will be the first test of whether the White House and Republicans can work together and find common ground. Republicans, and some Democrats, want an extension of the Bush-era tax cuts set to expire at the end of the year to include individuals making over $200,000 and families making over $250,000. Obama had said prior to congressional elections earlier this month that the country can't afford the tax breaks for the wealthy, which would cost about $700 billion over 10 years. Now, Obama said he is willing to compromise but it is unclear exactly how long of an extension the president will accept. His administration has stressed, however, that he won't accept a permanent extension of tax breaks for the wealthy. Top congressional leaders from both parties will get a chance to sit down and air out their differences at a meeting next week at the White House. -By Jared A. Favole, Dow Jones Newswires; 202-862-9256; jared.favole@ dowjones.com