http://www.philly.com/inquirer/front_page/20100914_GOP_says_no_deal_on_tax_cuts.html
Basically in a nutshell the Bush tax cuts to the uber wealthy had a large part to play in the deficit. Well that and a war or two.
It was taxing of the uber wealthy that helped America land a man on the moon and led to the development of a lot of their nuke stations. Bush being pro-rich cut the tax for the wealthy and basically screwed up the economy.
So what Obama is saying now is to give tax cuts to the middle class. Anyone with a brain knows that the better off your middle class is... the better off your economy is. The bigger the gap between the richest and the poorest, the worse off your country is.
So removing the tax cuts for the rich and giving the middle class tax breaks makes all the sense in the world. The rich are not going to suffer from the lack of tax cuts.. they really can afford it.
What the Republicans are doing is saying that will oppose tax cuts for the middle income earners if Democrats dont extend the Bush era tax cuts for the wealthy!
Whats stupid about this is most of the Republican voting support comes from middle income earners. So basically people who vote Republican (unless you are a top 1% earner)... are voting against their own best interests.
Seriously now.. could a Republican apologetic please explain to me why you would be so stupid as to support the Republicans who are basically shafting their own support base?
WASHINGTON - Republican leaders in Congress on Monday backed away from a possible compromise with the Obama administration over extending expiring Bush-era tax cuts, committing both sides to an election-year battle with huge stakes for the economy.
Senate Minority Leader Mitch McConnell of Kentucky and others distanced themselves from a statement Sunday by House Republican Leader John A. Boehner that he might agree to let tax relief for the wealthiest Americans expire, as President Obama wants, if that's politically necessary to save middle-class tax cuts.
By the end of the day Monday, Boehner issued a statement dropping his suggestion.
Obama is pushing for a permanent middle-class tax cut, but only if Bush-era cuts for top earners are eliminated. Republicans, in turn, want permanent tax relief for all levels.
The divide is rapidly becoming the marquee issue of the midterm election.
Democrats are using it to portray themselves both as champions of the middle class and as deficit hawks, because, they say, GOP proposals would depress government revenues.
Republicans say the Democrats are prepared to raise taxes on small-business owners and couples making more than $250,000 a year during a recession, which, they argue, will hamper a recovery.
Basically in a nutshell the Bush tax cuts to the uber wealthy had a large part to play in the deficit. Well that and a war or two.
It was taxing of the uber wealthy that helped America land a man on the moon and led to the development of a lot of their nuke stations. Bush being pro-rich cut the tax for the wealthy and basically screwed up the economy.
So what Obama is saying now is to give tax cuts to the middle class. Anyone with a brain knows that the better off your middle class is... the better off your economy is. The bigger the gap between the richest and the poorest, the worse off your country is.
So removing the tax cuts for the rich and giving the middle class tax breaks makes all the sense in the world. The rich are not going to suffer from the lack of tax cuts.. they really can afford it.
What the Republicans are doing is saying that will oppose tax cuts for the middle income earners if Democrats dont extend the Bush era tax cuts for the wealthy!
Whats stupid about this is most of the Republican voting support comes from middle income earners. So basically people who vote Republican (unless you are a top 1% earner)... are voting against their own best interests.
Seriously now.. could a Republican apologetic please explain to me why you would be so stupid as to support the Republicans who are basically shafting their own support base?