9 years ago, Congress agreed with Bush in handing down the largest tax cuts in history. Using today's dollar standard, these cuts saved the "rich" 700 billion and the middle class more than 3 trillion dollars. Understand that over the course of the past 9 years, the Dems have tried their best to foster the unbelievable claim that the Bush tax cuts did not benefit the middle class. With the current debate, we now know that this Democrat claim is false, bordering on a lie.
With that information in mind, the reader can see exactly why this nine year tax rate is so very critical. Without a decision, the cost to the economy is scary huge . . . . nearly 4 trillion dollars worth of scary; not to mention increases in corporate tax rates, the death tax and the abbreviation of the child tax credit.
The Lame Duck congress is hoping to be done with its business 15 days from now. What does Harry Reid propose? Two tax bills he knew would not pass. The first failed 53-36 and the second failed 53-37. More than that, another day has been unnecessarily wasted. In view of the fact that Reid was told by the American people on November 2 to stop with this immature nonsense and get things done, it is not known what political benefit Reid sees in delaying the passage of the Bush cuts.
Early last week, Minority Leader Mitch McConnell read an open letter in which he stated that the GOP, all 42 Republican Senators, would refuse to pass on any legislation until the tax issue and certain budgetary matters were resolved. These are matters that should have been dealt with last year. The New GOP has come to the Lame Duck Congress and has made it clear, they will no longer be ignored. "First things first" is their message.
While the Marxist media tries to pull the "hostage" nonsense, the GOP is not holding anything "hostage." They are fine with dealing with unemployment matters, but not before the tax cuts are written in stone. Again, the message is "first things first."
Obama is desperately trying to take the advantage away from the GOP by demanding that a tax "deal" will only be made if it is attached to an extension of unemployment benefits. Never mind the matter of paying for those benefits. Everyone knows how heartless that would be . . . . . . . . . . . . . . . to actually pay for something.
We have predicted that Obama would not deal on the tax cuts. That may be wrong. It does appear that Obama is positioning himself to allow for the cuts while being the "good guy" to the little man. Never mind that his Marxist base is furious with this compromise and it was the passion of the far left that convinced us that Obama would not deal on the matter. As a result, many are now calling for a different Democrat nominee come the 2012 election cycle. When we say "many," we are talking about the far left. When we say "a different Democrat nominee" we are talking about someone other than Barack Obama.
Mort Zuckerman at Newsweek is lost to the Obama cause. The editor of Crooks and Liars is gone. A number of liberal editorialists at the NY Times have fallen away. Warren Buffet is openingly credical. Keith Olbermann and Chris Matthews have repeatedly and forcefully complained. Michael Moore, the nation's number one donut eater, has read an open letter reminding Obama "you are one of us." The fat guy was nearly in tears when he read the letter. We could go on but you see the point; Obama's base is as angry as angry can get.
Suffice it to say, the tax cuts appear to be "in" while Obama appears to be "out."
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