If you thought the impending nomination of Hillary “Obliterate Iran” Clinton as Barack Obama’s Secretary of State was sending the sniveling leftists into fits, wait until they get wind that confiscating money from the “rich” to “spread the wealth around” may have to take a back seat for the foreseeable future.
The reason for the delay? Raising taxes on anyone is bad for the economy, and doing so in an economic downturn is stupid and would cause a disaster. Just like all of us were saying during the entire election.
Aides to President-elect Barack Obama suggested on Sunday that he wouldn’t immediately implement a pledged rollback of tax cuts for the top tier of American income earners, because of the worsening economic outlook.
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During an appearance on NBC’s “Meet the Press,” Obama economic adviser William Daley suggested that the incoming administration would reconsider whether to quickly increase taxes for Americans earning more than $250,000 per year.
Daly, who was commerce secretary under former President Bill Clinton and is the brother of Chicago Mayor Richard Daly, said it looks “more likely than not” that Obama would not seek legislation to repeal President George W. Bush’s cut in the tax rate for the wealthiest Americans before it is scheduled to expire after the 2010 tax year. Bush cut the top rate to 35% from 39.6% in 2001.
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David Axelrod, an Obama political strategist who was recently named as one of the president-elect’s senior White House advisers, also suggested during an appearance on “Fox News Sunday” that Obama was considering delaying the tax increase, but he did not elaborate.