Democrats push for tax cuts they once opposed
Democrats say they have reconsidered their opposition to the Bush tax cuts for several reasons. The cuts were written into law from 2001 to 2003 after a decade in which most Americans saw robust income growth. Over the past decade, by contrast, median wages have declined, after adjusting for inflation, amid a weak economy. Allowing tax cuts for the middle class to expire would further reduce take-home pay.
“We’ve had these tax cuts in place since 2001. The world changes, and the economy is where it is,” said Steven Elmendorf, who was chief of staff to former House minority leader Richard A. Gephardt (D-Mo.), a primary opponent of the Bush tax cuts. “With people’s economic status, we should not be raising taxes on people earning under $250,000.”
What’s more, income inequality has been growing. Sparing the middle class higher taxes while requiring the wealthy to pay more would tip the scales slightly in the other direction…
Even as they agree that taxes shouldn’t rise on the middle class when the economy is still weak, some liberals are worried by the prevailing Democratic view that the bulk of the Bush tax cuts should be made permanent. Liberals fear that lower revenue means less money for domestic programs, such as education, as well as for the social safety net.
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Explain where you got that $250k number from, what’s the economic basis for it over say, $350k?
These f**kers just pull this stuff from their ass, they don’t know what they are doing.
Bishop on December 26, 2012 at 11:25 AM
I WISH these slugs would call them what they are, Bush’s tax RATES, not cuts!
L
letget on December 26, 2012 at 11:33 AM
The left is about “fairness” justice be damned. Just who the hell do these bastards think they are. The discussion is about how much of my property the government will allow me to keep. Evil vile satanic bastards. Let Obama etall eat cake.
david kumbera on December 26, 2012 at 11:44 AM
It never ceases to amaze me that people think raising taxes on “the rich” will make things better for everybody else. “The rich” will simply charge more for their products, services, investments, etc to cover the rise in costs. So who REALLY ends up paying for those tax hikes? It ain’t the rich.
A flat tax should be the only tax system in my opinion. Everybody pays a percentage of income with no deductions no matter the income level. Even Turbo-Tax-Timmy could appreciate that.
HotAirian on December 26, 2012 at 11:50 AM
You know what the rich do with their money? Buy stuff! We have some people at work who aren’t huge fans of a local multi-millionaire. But that same multi-millionaire just spent a ton of money buying toys for needy kids, and his resort employs hundreds of people – people whose living depends on wealthy people having the money to get away for a week or so.
hawksruleva on December 26, 2012 at 11:55 AM
Got into a discussion with a relative this past weekend about taxes and the socialist bent we’re on, and he was almost verbatim, an Obama talking points memo. I shut him down when I asked him how many poor people he knows that employ people. He sputtered and spit some class envy crapola and when he tried going with the stimulus turning things around spiel and that the Feds should jack taxes up to pay for all this stuff, I asked him if he knew where the money comes from for the Feds to pay for the “stuff”. He said “from the government” and gave me the “you imbecil” look. i said, you know, that the states send the taxes it collects to the Fed gubmint and then the Fed gumbit gets to spend that money right?” He was dumb struck. He didn’t believe me, and I politely reminded him of when GWB was Guvna of Texas and the EPA jacked up the emission standards so high that brand new cars rolling off the transport trucks couldn’t pass inspections on emissions. I asked him if he remembered that. He said he did, and “what’s that got to do with anything?”. I reminded him again that GWB told the EPA to pound sand and the EPA said they would withold billions in money the state gets from the FED for roads etc till Texas capitulated. I asked him if he remembered that. He did. I said that GWB then told the EPA that the State of Texas would withold sending collected taxes to Washinton untill the EPA backed off the new standards. I also told him that the EPA whined like a bitzch, but ended up reversing itself so the money would start flowing from the state to DC again. I asked him if he remembered that….. he did.
It was at this time that my relative had to go talk to his aunt and bailed on the convo.
Point fully illustrated to the borg mentality Obama voter.
44Magnum on December 26, 2012 at 12:30 PM
If a donkey party member says anything, and you later trust it to have any value, you are both a fool and a shorn sheep.
Liberals/leftists/donkeys are all menaces to normal people.
platypus on December 26, 2012 at 1:10 PM
Yep, thats to their political advantage.
tommy71 on December 26, 2012 at 1:29 PM