Rich Liberals Livid Obama Didn’t Hike Their Taxes
The LA Times talked to some wealthy Obama donors who are threatening to not donate to the 2012 campaign because of Obama’s compromise with the GOP on extending the tax cuts for another two years. From the article:
Democratic operatives are already laying plans to set up new independent expenditure committees that can raise unlimited funds, and hope to enroll early contributors to establish a beachhead for the coming campaign. But some stalwart party donors are vowing to withhold funds because of their anger over the tax-cut deal.
“I do not plan to support Obama and his reelection effort,” said Utah-based hedge fund manager Art Lipson, who gave hundreds of thousands of dollars to the Democratic Party and its allies in recent elections. He views the tax-cut compromise as a giveaway to Republicans that will increase the deficit.
“He’s got many great qualities, but he is not a fighter,” Lipson said of the president. “I’ve met with many donors and the level of disappointment is extreme.”
The piece also noted a letter, signed by about 80 former or current millionaires, asking Obama to let the Bush tax cuts affecting those who make over $1 million a year to expire.