Talking Points

President Obama in Trouble With Far Left Again


By Bill O'Reilly


Word is that Mr. Obama will compromise on the Bush tax cuts situation.


As you may know, the tax code that we have now is set to expire in three weeks, and if a new code isn't put in place, everybody's taxes will go up.


Democrats want to raise taxes on people and businesses making more than $250,000 a year. Republicans don't want to raise taxes on anyone. And now it looks like the GOP will win, as President Obama realizes he cannot get his tax hike on the affluent through the Senate.


So the deal is this: Congress will extend unemployment benefits for another year in return for no tax hikes. The entire compromise would add about $150 billion to the budget.


Now, in a shaky economy, it is risky to raise taxes. That's a fact. But it is also troubling that the nation is taking on even more debt while tax revenue stays flat or actually declines. So both sides have an argument.


"Talking Points" believes that the tax code should stay the same because if the economy improves, tax revenues will rise anyway, as we saw during the Bush years. Also, I don't believe in income redistribution, which is really what this is all about.


The far left, however, lives for taking money from the affluent and giving it to low-income Americans, so they are furious with the president:




BILL MAHER, HOST, "REAL TIME WITH BILL MAHER": I thought two years in I would be making jokes about what a gangster he was, you know, and not that he is President Wayne Brady, you know. I thought we were getting Suge Knight. And for him to be talking about compromising with the Republicans on the Bush tax cuts, where are -- where are they going to draw a line in the sand? When are they going to remember who they are?




Now, Maher's concern is being embraced by many far-left pundits. So once again, Mr. Obama finds himself in a very difficult place with his far-left base defecting.




DAN RATHER, FORMER CBS NEWS ANCHOR: If this goes through, Barack Obama will be in a position of he will have his shirttail on fire, his back to the wall and the bill collector at the door, which is metaphorically a way of saying he's almost guaranteed if this goes through to have a serious challenge in a Democratic primary for president in 2012.



I think Mr. Rather is correct. There will be a challenge on the left to Barack Obama, or maybe Hillary Clinton will reconsider.


Bottom line: No tax hikes, more angst for the president.


And that's "The Memo."


Pinheads & Patriots


The WikiLeaks controversy continues, and some people even believe that Julian Assange, head of the vicious website, bears little responsibility for exposing top-secret documents.



RICHARD STENGEL, MANAGING EDITOR, TIME: Those accusations against Assange in some cases are unfair. I mean, the criminal here, if there is a criminal, is Bradley Manning, who is the PFC in the Army who leaked those documents to Assange in the first place.




I don't agree. Is Mr. Stengel a pinhead or a patriot? Please vote on


On Friday we featured Julia Roberts. She earned, and I use the word loosely, $1.5 million for standing there -- standing there -- in an Italian commercial. Well, 57 percent of you believe Ms. Roberts is a pinhead in that situation, and 43 percent believe she's a patriot for taking the cash.


I'd take the cash, but I'd give it to charity. We gave a big donation on Monday to the Wounded Warriors Project. Thank you very much for supporting the Christmas store. I'm just thrilled that we can give away so much money this Christmas season because of you.