GeshmakMan: Obama can neither raise nor lower taxes. The last time our chief executive tried to raise taxes by himself (assuming you are in former colony other than New York, which was Dutch at the time), it ended up in him losing his head. The Congress sets the tax rates – this goes back 800 years, and is pretty much set in stone.
The 2% increase in the payroll tax (on the middle class and lower), and the other tax increases (on the upper middle class and high), were all enacted by the Congress. While they were called the “Bush tax cuts” that were somewhat allowed to expire, they were also enacted by the Congress.
And we go over the upcoming fiscal cliff, it is the fault of the Congress. Indeed, if you get a solid majority in Congress (meaning a bi-partisan one), Obama has absolutely no say in the matter. The president sets the tone and has the famous “bully pulpit” – but he isn’t all that powerful.