Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

?
Lv 6
? asked in Politics & GovernmentGovernment · 8 years ago

Why was Obama against the Bush tax cuts and is now for them?

The President was very adamant about how the Bush Tax Cuts were a bad thing, that they would lead to massive deficits and would hurt the economy.

Now, the President is championing the very tax cuts he was against.

Why were the tax cuts "bad" when Obama wasn't President, why were deficits "bad" when he wasn't in charge... and suddenly these things are "good"?

Update:

For those that think, "We are in a recession", you will recall Obama deemed the recession to be over almost 3 years ago.

5 Answers

Relevance
  • Favorite Answer

    Excellent point! Because he has pretty much accepted what JFK, Reagan and Bush 43 knew: tax cuts stimulate growth, and tax increases stifle it.

    Even the Republicans have failed to emphasize that Obama now agrees with them about the Bush tax cuts, for 98% of taxpayers.

    He said he was against them because it made for a good sound bite. And he knew the media would not correct him, and low-information voters would be fooled.

    But now that he actually has to govern, he wants to adopt the Republican position.

  • ?
    Lv 6
    8 years ago

    In the first place, Mr. Obama was not a member of Congress in 2003 when the tax cuts were first proposed.

    In the second place, the tax cuts were indeed a bad thing in 2003. They have led to the large deficits we are now facing. The government wouldn't have the large debts if the tax cuts had not gone into effect and if Bush hadn't started two wars and if the economy hadn't tanked under his leadership.

    In the third place, 2012 is not 2003. The economy today is in a much different place than it was nine or ten years ago. An increase in taxes at this time is bad for the economy, just as a decrease in 2003 was bad for the government's fiscal health.

    Yes, we are no longer in a recession, but the economy is still weak.

  • Alan
    Lv 5
    8 years ago

    Flip flop again. Progressive lies again, no not Obama, Obama would not lie to the American people, would he? What do they thank Obama change was? shure wasn't to help America.

  • March2
    Lv 5
    8 years ago

    When originally instituted we were not in recession. It was simply an unfunded freebie from the GOP to it's wealthiest members.

    Now we ARE in recession so the cut makes more sense. However it does not make sense to continue the cut for top earners. Middle class earners put the money back into the economy, top earners do not.

  • He's not. This must be the latest talking point from Faux News to take the attention away from their lies about Susan Rice as documented in the recent Benghazi report.

Still have questions? Get your answers by asking now.