Co-opting Republican issue, Obama experiences slight rebound
Even Karl Rove agrees that Republicans blundered on the payroll tax issue. They may be right “on principle and on policy“, as Charles Krauthammer puts it, but they’ve “lost the optics”, as Rove contends.
This has been a rare victory for the president due in large part to a divided GOP. “Republicans,” write the editors of the Wall Street Journal
have also achieved the small miracle of letting Mr. Obama position himself as an election-year tax cutter, although he’s spent most of his Presidency promoting tax increases and he would hit the economy with one of the largest tax increases ever in 2013. This should be impossible.
House Republicans yesterday voted down the Senate’s two-month extension of the two-percentage-point payroll tax holiday to 4.2% from 6.2%. They say the short extension makes no economic sense, but then neither does a one-year extension. No employer is going to hire a worker based on such a small and temporary decrease in employment costs, as this year’s tax holiday has demonstrated. The entire exercise is political, but Republicans have thoroughly botched the politics.
Indeed. And as Ed Morrissey has pointed out, the payroll tax issue has helped the incumbent in public opinion polls:
In short, Obama has rebounded slightly in job approval, but has had no real change on the economy and job creation. His pursuit of the payroll tax cut extension has clearly helped him gain some middle-class credibility in the last six weeks, something Republicans should keep in mind, but we’re not looking at a major rebound as long as Obama remains as underwater on the economy as this poll shows.
Fascinating how Obama has achieved this rebound by co-opting a traditionally Republican issue, lower tax rates. (more…)



