Quote:
Originally Posted by kcchief19
I've personally been pretty critical of a lot of what Obama has done so far, but I think the strategy on the debt limit has been brilliant.
He's going to put together a package that increases the debt limit, includes a trillion dollars or so in cuts and probably a tax increase on ridiculous incomes of $1 million or more. He's going to pick up the votes he needs from Republicans in moderate districts and states.
In 2012, he's going to be able to campaign that he cut the deficit and got somthing done while the The Tea Party voted against a massive cut in federal spending. It's the same strategy the Dems used on Bush in '91, forcing him to accept tax increases against his "read my lips" pledge.
The risk is that the economy doesn't improve in the next 12 months and voters blame it on this deal.
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Why is earning $1 million or more ridiculous?
I can understand, and agree, with concerns over publicly-traded executive compensation packages in regards to stock options and golden parachute deals for just being a CEO (and not delivering in regards to results). I also agree with how Wall Street is being run, but I blame that on the lack of regulation that still seems to be soft in my view.