I remember when Obama was running for president he only talked about raising taxes for only the high income housholds. Wildo posted the following link on Taxes under Obama & McCain during the election. Taxes under Obama and McCain I am now hearing (Suprise.. Suprise) that there is talk that President Obama is going to let all of the tax cuts expire. Of course he will not call this a tax increase..... He will just say that they were scheduled to expire.