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Obama adviser says tax cuts will happen
Published in Saudi Press Agency on 28 - 12 - 2008


A top adviser to President-elect Barack
Obama on Sunday promised that campaign pledges for middle-income taxes
cuts will be kept. David Axelrod also assured that Bush
administration tax cuts for the wealthy will be revoked or
allowed to expire, according to AP.
Axelrod declined to comment on Israel's offensive against
the Gaza Strip, saying Obama was in contact with Secretary of State Condoleezza
Rice and President George W. Bush about the crisis. More
than 280 Palestinians have died in the first 24 hours of
the air campaign against Gaza.
But, he said, «President Bush speaks for the United
States until Jan. 20 and we're going to honor that.»
Obama won the presidential election, in part, through
voters' belief that he was better able than Republican John
McCain to deal with the economic meltdown. Part of his
campaign pledge was a tax cut for middle- and low-income
earners while increasing the federal levy on wealthier
Americans.
Axelrod assured taxpayers that the tax cut was at the top
of Obama's agenda, while he declared higher taxes for more
wealthy Americans also was in the cards, although less
immediately.
Axelrod said the quick move to cut taxes is «vital.»
«People need money in their pockets,» he said on NBC
television's «Meet the Press.» «That'll get our economy
going again.»
And he reiterated that higher taxes for the wealthy also
remained on the agenda. That is planned to happen through
revocation of tax cuts for that group passed during the
Bush administration or by allowing the measure to expire in
2010.
«Whether it expires or we repeal it a little bit early
we'll determine later, but it's going to go. It has to
go.» Axelrod said.
Obama contends that tactic does not represent a tax
increase but rather returns the assessment on the wealthy
to the level it was during President Bill Clinton's
administration in the 1990s.
«We feel it's important that middle class people get some
relief now,» Axelrod said.
Those cuts will be part of the new administration's
stimulus plan, Axelrod said. «This package will include a
portion of that tax cut that will become part of the
permanent tax cut that he'll have in his upcoming budget.»
The incoming administration is considering tax cuts of
$1,000 for couples and $500 for individuals that will be
delivered by reducing the tax withheld from paychecks. That
plan, which would cost about $140 billion over 2009-2010,
would put more money in paychecks.
The lump-sum rebates issued earlier this year were used by
many people to pay down debt, rather than spending them as
the administration had hoped.
Eliminating Bush's tax cuts for the wealthy while adding
in new middle-class tax reductions does not mean that Obama
is raising taxes, Axelrod argued.
«It'll just restore some balance,» said Axelrod, saying
the two moves will equal a «net tax cut for the American
people.»


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