On October 20, 2010, I sat in the Portland Convention Center and listenede to Barack Obama promise not to renew the Bush Tax Cuts for people earning over $250,000. When he caved in, I felt thoroughly disheartened. I understand that Republicans were using terrorist tactics holding the needs of millions of Americans hostage in several areas to allow them to protect 1% greed. I realize that Obama’s motives for caving-in were good ones. Nevertheless, I believe his decision was a mistake, because giving into terrorism just instigates mere terrorism. Here we go again!
President Obama on Monday will propose a one-year extension of the Bush-era tax cuts for people earning less than $250,000, his latest election-year effort to appeal to middle-class voters.
The president will make the announcement during a Rose Garden event, joined by families and workers who would benefit from the initiative, White House officials said.
The move is likely to set up another standoff with Republicans in Congress, who support extending the tax cuts permanently for all income levels, not just those earning less than $250,000 per year.
But the White House is calculating that forcing the GOP to reject the president’s proposal would put Republican lawmakers in a difficult position at a time when many Americans are struggling in a tough economy.
“President Obama today will push for extension of middle class tax cuts,” White House communications director Dan Pfeiffer wrote on his Twitter account Monday morning. “Will the GOP join him to provide certainty for 98% of Americans?” … [emphasis added]
Inserted from <Washington Post>
The answer to that question is obvious. With the 1% getting 150% more than the bottom 80% combined, there is no way in hell Republicans will fail to protect the 1%. To do so would be a violation of the Gospel according to Saint Grover, Supply-side Jesus’ apostle of greed.
However, Republicans are offering a counter proposal.
The Senate’s top Republican renewed an offer today to President Obama over the George W. Bush-era tax cuts, due to expire at the end of the year.
"What we ought to be doing is extend the current tax rates for another year with a hard requirement to get through comprehensive tax reform one more time," said Senate Minority Leader Mitch McConnell, R-Ky., speaking on CNN’s State of the Union.
President Obama and aides have shown little interest in a one-year extension, saying the Bush tax rates should be extended for middle-class Americans but ended this year for the wealthiest… [emphasis added]
Inserted from <USA Today>
Now, let’s sort out the meaning of this deceptive Republi-speak. When Bought Bitch Mitch says comprehensive tax reform, he means raising taxes on the poor and cutting taxes for the 1% and corporate criminals. So the deal he offers, in short, that in return for us allowing a tax cut for the rich, Republicans will agree to mandate an even bigger tax cut for the rich and a tax increase for the poor.
Therefore, the only compromise we could see is another cave-in. I seriously hope that does not happen.
The Bush Tax Cuts expire at the end of this year. Mr. President, if you cannot extend my tiny tax cut without extending the huge tax cuts for millionaires and billionaires, then let them all expire. I’d rather have my taxes go up.