Former Adviser Breaks with Obama on Tax Policy

[I AM NOT THAT GUY 5,715]

Orszag column blindsides White House

The defection from someone who closely advised Obama on fiscal policy just six weeks ago left spokesman Robert Gibbs in an awkward spot at his daily press briefing. He made it clear the administration was surprised by Orszag, saying the White House did not see the column in advance and did not know Orszag’s opinion on the matter.

“I did not hear him making this argument,” said Gibbs, who acknowledged he hadn’t been present for every meeting with Orszag. “He may have been making this argument in some meetings.”

Obama wants to phase-out tax cuts on individuals making more than $200,000 and families making above $250,000, something Republicans argue would stifle economic growth. In his inaugural column for the Times, where he’s a contributing columnist, Orszag appeared to agree with the GOP.

“Higher taxes now would crimp consumer spending, further depressing the already inadequate demand for what firms are capable of producing at full tilt,” he wrote.

In a further break with Obama, Orszag said all of the tax cuts should be allowed to expire in two years for the sake of the nation’s budget.

“Although hardly anyone wants to admit it, we’re not going to solve our budget problems over the next decade unless revenue is part of the equation,” Orszag wrote.

He said allowing all of the tax cuts to be extended would cost the budget $3 trillion over 10 years, and also warned the U.S. risked losing the confidence of the bond market if it did not get its long-term fiscal problems in order.

...the last thing the White House, already under siege from a rebounding GOP and its disappointed liberal base, wants to deal with this week are additional attacks from its former advisers.

Orszag’s assault followed former Council of Economic Advisors Chairwoman Christina Romer’s comments — offered Thursday in her last major address for the administration — that the government should “spend more and tax less” in helping the economy.

That advice sounded like a call for a stimulus, something the administration seems to be plotting with its proposals for targeted business tax cuts and infrastructure spending. Given the last stimulus’s ugly connotations, however, it’s a word choice Gibbs is trying to avoid.

Pressed again Tuesday on why the administration was not calling its proposals a stimulus, Gibbs avoided a direct response and instead offered a list of the administration's accomplishments on the economy.

http://thehill.com/homenews/administration/117463-orszag-tax-blindside-takes-white-house-by-surprise

Can be moved to P&R.

Old habits die hard!

[TBoneTX 46,294]

I'm still waiting for anyone in Honest Obe's administration to name for me one poor man who has ever given another man a job, si man.

[Darnell 8,479]

*** moving to Political Religions Forum ***

[evli1966 88]

I'm still waiting for anyone in Honest Obe's administration to name for me one poor man who has ever given another man a job, si man.

According to all the hype of having to make $200k to be middle class I am a poor man and employ a person to do maintence on my houses and care for the lawns.

Of course I am not on Obama Administration nor do I support him anymore

[TBoneTX 46,294]

employ a person to do maintence on my houses and care for the lawns.

If he's an Illegal, do you get extra credit from the Administration? Ha (?).