Top definition
A highly inappropriate term for the extension of the Bush Tax Cuts!
In December 2010 the tax cuts were set to expire. President Obama and the Congressional Democrats wanted to let the tax cuts for the richest 2% expire and extend the tax cuts for the other 98%. Also at this time, the federal unemployment payments were set to end. Congressional Republicans didnot want to extend the unemployment benefits because it was "too costly," so they held the long-term unemployed hostage until Democrats extended the tax cuts for the richest 2%!!!
Obviously, the Democrats went along for the sake of the unemployed and to keep the tax cuts for those that actualy needed them. Republicans showed their true colors (caring only for the rich) while the Democrats were again the ones showing fiscal resposibility!
Some fucking idiot actually called the extension of the Bush Tax Cuts the Obama Tax Cuts!!! WTF?
Obama was opposed to extending the tax cuts for the rich!
by Charles_U_Farley January 12, 2011
Get the mug
Get a Obama Tax Cuts mug for your boyfriend Paul.
The group of tax cuts which took effect on January 1, 2011, passed by Congress and made law by President Barack Obama, extending and augmenting the expired Bush tax cuts, and reducing federal taxation to the lowest level in several decades, and promising an enormous debate in 2012 about whether to extend the Obama tax cuts.
I am waiting to see if my tax payments really drop from the Obama tax cuts.
by Tao Cha Ching January 13, 2011
Get the mug
Get a Obama tax cuts mug for your girlfriend Larisa.
A bunch of tax cuts President Obama forced through Congress in the lame duck session which bust the budget and balloon the deficit without giving enough tax relief to Americans.
Sarah Palin denounced the Obama tax cuts because 1. they increase the deficit too much and 2. they didn't reduce taxes enough.
by LGP81 January 01, 2011
Get the mug
Get a Obama tax cuts mug for your father Jerry.