Posted by Jed Lewison on Mon Nov 24, 2008 at 5:08 PM Pacific

Is It Really A Delay?

I've been a little confused over the past few weeks as folks have debated whether or not the Obama Administration will be "delaying" the tax increase planned for upper-income taxpayers.

It was my understanding that Obama's plan all along was to simply wait for the tax cuts to expire. (Recall that Bush made his tax cuts temporary as a budgeting gimmick. Unless extended, they expire in 2011.)

I might have this wrong -- it could have been that he planned to accelerate their demise by one year. But I'm fairly confident that he didn't ever plan to immediately seek to rollback the Bush tax cuts for the wealthy, because I remember John Edwards having a more aggressive schedule than either Obama or Clinton.

Is It Really A Delay?

I've been a little confused over the past few weeks as folks have debated whether or not the Obama Administration will be "delaying" the tax increase planned for upper-income taxpayers.

It was my understanding that Obama's plan all along was to simply wait for the tax cuts to expire. (Recall that Bush made his tax cuts temporary as a budgeting gimmick. Unless extended, they expire in 2011.)

I might have this wrong -- it could have been that he planned to accelerate their demise by one year. But I'm fairly confident that he didn't ever plan to immediately seek to rollback the Bush tax cuts for the wealthy, because I remember John Edwards having a more aggressive schedule than either Obama or Clinton.

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