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Hope and changing positions

November 24, 2008

This could be good news:

In light of the downturn, Mr. Obama is also said to be reconsidering a key campaign pledge: his proposal to repeal the Bush tax cuts for the wealthiest Americans. According to several people familiar with the discussions, he might instead let those tax cuts expire as scheduled in 2011, effectively delaying any tax increase while he gives his stimulus plan a chance to work.

Still, if raising taxes is bad now, what makes it good in 2011?

Via Instapundit.

UPDATE: More here:

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.

Tags: tax policy.