A Hatter as Thin as a Dime
As anyone who’s paid even a modicum of attention over the last year knows, all Barack Obama promises come with an undisclosed sell-by date. So it comes as no surprise that one of the most frequently made of those promises, that those making less than $250,000 per year would not see their taxes increase “a single dime”, has officially expired:
Over the weekend, Obama outlined his support for the Reid plan to impose a “Cadillac tax” on high-end health insurance policies. House lawmakers and unions oppose the fee.
Obama is expected to meet Monday with union leaders, but White House Council of Economic Advisers chief Christina Romer said Sunday the president is not willing to move very far on his position.
Romer was citing a Centers for Medicare and Medicaid Services report released Saturday that concluded that the tax on “Cadillac” health plans, as well as reductions in annual increases to Medicare providers, have the potential to hold down costs.
But for opponents of the Cadillac tax that means greater expenses. A proposed exemption up to $23,000 for some workers leaves one in four union employees — including some first responders — exposed to tax hikes, labor leaders say.
This was no casual, offhand proposal, either. It was a centerpiece promise of his campaign. He made the ” not one single dime” promise in multiple debates and reaffirmed it in his speech to a joint session of Congress after his inauguration.
Obviously, several other Obama initiatives impact middle class taxes, as well. But he’s managed to avoid this sort of open, unequivocal betrayal of this promise up to now. The article couches it in terms of its impact on union members, which makes sense since they will be the ones most vehemently opposed. But this proposal will hit plenty of other families making less than the infamous threshhold.