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Listening to what Bill Clinton promised in 1992 is like listening to Obama today. Same old rhetoric...DeJaVu.
"I want to make it very clear that this middle class tax cut, in my view, is central to any attempt we're going to make to have a short-term economic strategy and a longterm fairness strategy which is part of getting this country going again." --Bill Clinton, New Hampshire primary debate, 1/19/92
...I will tell you this: I will not raise taxes on the middle-class to pay for these programs." --Bill Clinton, presidential debate, 10/19/92
"You know what my plan is, to raise taxes on people whose incomes are above $200,000..." July 13, 1992.
"It starts with a tax cut for the middle class and asks the rich to pay their fair share again. It includes national health insurance, a major investment in education, training for our workers, tough trade laws, and no more tax breaks for corporations to move our jobs overseas." January 10, 1992
"I will offer middle-income tax cuts," he said. "The average working family's tax bill will go down about 10 percent, a savings of about $300 a year, and I won't finance it with increasing the deficit." a new program for every problem, and we won't get change simply by spending more on programs already on the books." April 16, 1992.
Just under one year later we had this from Clinton himself:
"I've worked harder than I've ever worked in my life to meet that goal. But I can't." Bill Clinton, Feb. 15, 1993, on why he could not give the middle class a tax cut.
And, from Obama we heard:
"I will cut taxes -- cut taxes -- for 95 percent of all working families."-- Denver
AUGUST 28, 2008
"And I can make a firm pledge: Under my plan, no family making less than $250,000 will see their taxes increase -- not your income taxes, not your payroll taxes, not your capital gains taxes, not any of your taxes."-- Dover, N.H.
SEPTEMBER 12, 2008
Office of Management and Budget Director Peter Orszag indicated that, while 98 percent of the budget mark-ups in the House and Senate are on par with the administration’s budget blueprint, some campaign trail promises, like middle-class tax cuts, may get left on the cutting room floor.
I expect all taxes to go up. Obama is left with very few choices.