{"id":3358,"date":"2010-11-13T04:40:23","date_gmt":"2010-11-13T12:40:23","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=3358"},"modified":"2010-11-13T04:40:23","modified_gmt":"2010-11-13T12:40:23","slug":"pelosi-says-no-to-2ers","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2010\/11\/13\/pelosi-says-no-to-2ers\/","title":{"rendered":"Pelosi Says NO to 2%ers!"},"content":{"rendered":"

Yesterday, in Obama Goes Spelunking<\/a>, we explored the battle over tax cuts.  After I had written it, I discovered breaking news that Obama denied caving-in, so I added an update at the bottom.  Some misunderstood thinking that I did not think Obama will cave in on this.  Frankly, I think he will, because he is afraid that it will pass the House.  Then, Harry Reid, the Nevada Leg Hound<\/a>, will probably hump a few Republican legs, begging for votes, whine, roll over, and play dead.  The Obama tax cut on income under $250,000 will die, and Obama will be blamed.  I think that\u2019s how Obama sees it, and given the current leadership in the Senate, it\u2019s easy to understand why.  At this point, we have one leader standing solidly for Main Street, against Republican attempts to strip mine what little wealth we retain to give it to millionaires.<\/font><\/p>\n

\n

\"13pelosi\"Speaker Nancy Pelosi will not give ground on her opposition to extending the Bush tax cuts on the wealthiest Americans, even as the White House and other Democrats have signaled that it might be time to compromise<\/strong>.<\/p>\n

"It’s too costly. It’s $700 billion," Pelosi told NPR<\/a> this morning. "One year would be around $70 billion. That’s a lot of money to give a tax cut at the high end. And I remind you that those tax cuts have been in effect for a very long time, they did not create jobs<\/font><\/strong>."<\/p>\n

Pelosi’s strong stand mimics that of some of her colleagues on the Republican side of the aisle. House Minority Whip Eric Cantor told Fox News [Foxtopia delinked] earlier this week that he was equally uninterested in compromising on the Bush cuts<\/strong> — he wants them all extended, and that’s that\u2026 [emphasis added<\/em>]<\/p>\n<\/blockquote>\n

Inserted from <TPM<\/a>><\/p>\n

Keith Olbermann covered this in two segments of his show.  In the first, he and Richard Wolfe survey the political landscape surrounding the issue.<\/font><\/p>\n

<\/embed><\/object><\/font><\/p>\n

In the second, he and Robert Reich discuss the insanity of more tax cuts for the rich.<\/font><\/p>\n

<\/embed><\/object><\/font><\/p>\n

The top 2% can afford to pay 39% and more.  The poor and middle classes can\u2019t afford an effective tax increase.  Even a one year extension of the Bush\/Republican cuts for the rich will hurt the economy, by ballooning the deficit, off budget.<\/font><\/p>\n

As I have previously stated, if I don\u2019t get the Obama tax cut, my effective rate will increase 50%, but I would rather go without than allow Republican plutocracy to continue.  One compromise I would approve is leaving the top marginal tax rate at 35% up to $500 thousand, revert to 39% up to $1 million, and increase to 45% or more above that.  That will never happen, because it would cause a brick in Agent Orange\u2019s toilet.<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

Yesterday, in Obama Goes Spelunking, we explored the battle over tax cuts.  After I had written it, I discovered breaking news that Obama denied caving-in, so I added an update at the bottom.  Some misunderstood thinking that I did not think Obama will cave in on this.  Frankly, I think he will, because he is […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3358","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/3358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=3358"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/3358\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=3358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=3358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=3358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}