
Instead of trying to pander to a small segment of voters, Democrats should do what they think is right regarding the extension of George W. Bush's tax cuts for the wealthy.
President Barack Obama has clearly signaled that he intends to extend the Bush tax cuts that affect the middle class but not continue the cuts for those who make more than $250,000 a year.
Apparently, Democrats in tough re-election fights are afraid that raising taxes on anyone during a recession will upset voters.
"Don't raise taxes in a recession," Rep. Earl Pomeroy (D-N.Dak.) told the AP.
Arguments from representatives like Pomeroy are causing confusion. The AP writes:
Democratic leaders refused to say whether they were open to changing Obama's plan, or even commit to a vote before the balloting seven weeks off. Instead, they called House Democrats together Tuesday night to discuss a poll showing that extending tax cuts for middle-income earners was a winning strategy for the party.
House Speaker Nancy Pelosi made the case that Obama's plan was "good policy and good politics," her spokesman said. Not everyone was convinced. A group of moderate and conservative House Democrats was collecting signatures on a letter calling for Democratic leaders to offer a bill extending tax cuts for all Americans. Broad tax cuts passed during the George W. Bush administration are due to expire at the end of the year. "We are in listening mode," said Rep. Chris Van Hollen of Maryland, who heads the House Democrats' campaign committee.
Democrats are on the right side of this issue, which has nothing to do with politics and everything to do with economics and common sense.
First, a CBS News poll shows that most Americans, 56 percent, are in favor of letting the tax cuts for those making $250,000 and more expire. In a sign that the issue is beyond politics for regular Americans, even 48 percent of Republicans, traditionally against increasing taxes for the wealthy, are against extending tax cuts to the wealthy.
In addition, the tax cuts will not likely have a big effect on the U.S. economy:
"There is a great deal of data showing that upper-income people spend a relatively small share of their tax cuts. Therefore, the tax increase will have very little effect on their consumption," Dean Baker, co-director of the Center for Economic and Policy Research, told The Hill.
Baker said the argument about the tax cut hurting small businesses does not make sense. He called it a "loon tune" argument:
"First of all, 98 percent of small businesses are not affected at all by the repeal. So we are only talking about a tax increase that will affect 2 percent of small businesses. Furthermore, most of the small businesses who are affected will only be affected in a trivial way. The tax hit on families with an income between $250,000 and $500,000 will average $700 according to Congressional Joint Tax Committee," Baker said.
"A tax hit of $700 is not going to devastate a well-run business. In fact, in almost no cases will it affect the decision to hire even a single worker. So, the small business story is a joke," he added.
We are talking about providing tax cuts for the wealthiest 2 percent of people as a means of stimulating the economy for the other 98 percent. That makes no sense. It sounds like Reagan-era trickle-down economics.
President Obama is right; this country simply cannot afford continued tax breaks for the wealthy.
"For any income over this amount, the tax rates would go back to what they were under President Clinton. This isn't to punish folks who are better off -- God bless them. It is because we can't afford the $700-billion price tag," he said.
It's irresponsible to continue tax breaks for those with abundance when the country is struggling. No one wants anyone to pay more taxes than they should, but the amount you pay should be commensurate with your income.
What Democrats, Republicans and Americans wealthy, middle class and poor should be fighting for is to make sure our tax dollars are spent wisely.


Comments: (5)
Add a comment
By: jackfreeman0011 on 9/16/2010 10:33AM
╭⌒╮WELCOME http://global-b2c.com
----- ~ ¤ ╭⌒╮ ╭⌒╮
╭⌒╭⌒╮╭⌒╮~╭⌒╮ HANDBAG 35$
,)))),'')~~ ,''~)
╱◥█◣ ╱◥█◣ SHOES 35$
|田|田||田|田| CLOTH 15$
╬╬╬╬╬╬╬╬╬╬╬╬╬╬ 2010 NEW
input this URL:
(http://global-b2c.com)
you can find many cheap and fashion stuff
(jor dan s-h-o-e-s)
(NBA NFL NHL MLB j-e-r-s-e-y)
( lv h-a-n-d-b-a-g)
(cha nel w-a-l-l-e-t)
(D&G s-u-n-g-l-a-s-s-e-s)
(ed har dy j-a-c-k-e-t)
(UG G b-o-o-t)
(http://global-b2c.com)
WE ACCEPT PYAPAL PAYMENT
YOU MUST NOT MISS IT!!!
-c--------------------------------------
Reply to this Comment | Report This
By: Patricia on 9/16/2010 1:05PM
What happens to the economy of the U.S. when people of means invest their money not in the U.S. but other countries? There will be a negative result from the Obama tax increase on the wealthy. Money exiting the country does not grow the economy but will decrease our economys ability to recover! Wealthy people/investors in companies will trim the number of employees to compensate for the increase in taxes. Small businesses will be in fear of Obama increasing their taxes and will not grow their businesses. Obama's/Democrats hatred for anyone able to build a sucessful business will be the downfall of our brilliant experiment in a democratic republic. Maybe that is what Obama really wants!
Reply to this Comment | Report This
By: BillSchrier on 9/16/2010 7:33PM
"What Democrats, Republicans and Americans wealthy, middle class and poor should be fighting for is to make sure our tax dollars are spent wisely."
What all these groups should be fighting for is CUTTING GOVERNMENT SPENDING so that all taxpayers can pay less taxes while cutting the deficit and debt. To believe otherwise is to believe that government knows how to spend money more wisely than the free market private sector and that government is more efficient than the free market private sector. Or, in the case of blacks, to believe otherwise, is to cynically care more about one's own freebie entitlements than the health of the country.
Reply to this Comment | Report This
By: xcgvcfvh on 9/16/2010 8:23PM
Hot summer day is about to,Open the wardrobe is not yet found love after
another the right clothes? So, also waiting for? Immediate action bar!
Welcome to { http://www.vipshops.org } sure you will find what you need.
Moreover, the company has a good reputation, product quality standards,
at reasonable prices. Over the years, has been well received by overseas
friends for their support. Therefore, please rest assured purchase.
!!!!!!!!!!!!!! http://www.vipshops.org !!!!!!!!!!!!
` ╰—┘ 。 ┅★`_、
│\__╭╭╭╭╭__/│
│ │
│ │
│ ● ● │
│≡ o ≡│
│ │
╰——┬O◤▽◥O┬——╯
| o |
|╭---╮| ┌┬┬┬┐
╞╧╧╧╧══╧╧╧╧╧╧╧╧╡
#@#%@#%%#@@#%@#%#@#!%!@@!$@$!!@$!$@#%@#%
Reply to this Comment | Report This
By: cn mall on 9/17/2010 1:43AM
============= http://www.cnwebmall.com =============
jordan air max oakland raiders $30--39;
Ed Hardy AF JUICY POLO Bikini $20;
Handbags(Coach lv fendi d&g) $30
Tshirts (Polo ,ed hardy,lacoste) $15
Jean(True Religion,ed hardy,coogi) $30
Sunglasses(Oakey,coach,gucci,Armaini) $15
New era cap $15
Bikini (Ed hardy,polo) $20
(NBA NFL NHL MLB j-e-r-s-e-y) $30
paypal accept,delivery door to door free shipping
======== http://www.cnwebmall.com =============
Reply to this Comment | Report This