HAPPY NEW YEAR FROM OBAMNEY!

So the president campaigned on taxing everyone who made $250,000 and that's why many of us elected him. He's breaking that promise before he's out of his first term and he doesn't even have to. He has a strong hand yet refuses to play it? He got our vote and is now free to ignore our wishes. Some polls put those in support of raising taxes on $250,000 and up at 60-76%--it's clearly what a majority of us want. At least Romney admitted to catering to the rich. For those of you waiting on a progressive Obama in the second term, he's already come and gone.

NY MAG:   "The erosion signals not only a major substantive problem in its own right, but it also raises disturbing questions about Obama’s ability to handle his entire second term agenda."

Why Is Obama Caving on Taxes?

• By Jonathan Chait

MORE:   NYMAG