The first thing to note re the much discussed tax cuts is that they are “BUSH TAX CUTS” and they heavily favor the rich and especially the super rich. Most important is to note that the tax cuts failed to stimulate the economy for the last 10 years. Almost equally important is that the tax cuts, as they stand right now, are heavily skewed to the rich and that passing “ALL” of them would seriously increase our national debt. Passing the tax cuts for the rich would only raise our debt and put another $10,000 to $30,000 into the savings accounts of the elite.
What is outrageous is that the Republicans can push for extending the tax cuts on the rich while denying extending the unemployment benefits for the poor victims of this Republican wrecked economy. There are real people hurting and the fraqing Republicans are refusing to do anything that will help put this country back together again under the current president.
As for Obama, he has everything to gain and we have nothing to lose by holding out for extending only the tax cuts up to $250K, during the lame duck session. Let it be the Republicans that stop the tax cuts for the middle class by not allowing the bill to go through without rewarding the elite. If Obama caves then he will have lost everything because the Republicans could care fraqing less what he does and passing on the welfare to the rich will cost him whatever support he still has among the Democrats. That will not doom us for the next two years, rather the next six. I will end this blog today because I can think of nothing nice to say.