After confidently predicting in September a repeal of the Bush tax cuts would pass for those making over $250,000, then suggesting a “decoupling” strategy in October that would extend the cuts for the wealthy for one year, the White House appeared ready late Wednesday to accept an across-the-board, temporary continuation of Bush-era tax cuts, including those for the wealthiest taxpayers.
In an interview with the Huffington Post, David Axelrod, the president’s senior advisor, said it appears to be the only way middle-class taxpayers can keep their tax cuts, given the legislative and political realities facing Obama in the aftermath of last week's electoral defeat.
"We have to deal with the world as we find it," Axelrod told the website during a 90-minute interview in his office, steps away from the Oval Office. "The world of what it takes to get this done."