The Senate has voted down two Bills today. (Saturday) The first bill was to limit the tax cuts to those making over $250,000.00 per year a pledge that President Obama made while campaigning. This would have preserved the tax cuts for most middleclass Americans but remove the tax cuts on the wealthiest 1% tax payers.
The second Bill was to remove tax cuts on anyone making over $1,000,000.00. This Bill is to prove that the Republicans are intent preserving the millionaires interests and willing to sacrifice the middle class.
Both Bills failed and it may because the Administration has agreed to allow the tax breaks to continue for several years in exchange for extended Unemployment Insurance benefits.
This looks like blackmail to me and I’m saddened that our Government has to resort to this type of agreement when it is so morally wrong.
For the entire article please go to http://tpmdc.talkingpointsmemo.com/2010/12/senate-republicans-block-middle-class-tax-cut.php?ref=dcblt
You finally got the hang of posting I see.
ReplyDeleteOf course, the other side to that argument is that granting tax cuts to those making more than one million/year would encourage business owners to employ more workers and invest more money in growing the economy. In short, that tax cuts to the wealthiest do more public good than tax cuts to the poorest.
ReplyDeleteIf one looks at it objectively one can see that it hasn't worked for the last ten years and isn't going to work now... It is a straw argument that has been perpetrated on the public in the interest of big business... If only it did work that way but it has proven itself to be a false argument... There are too many studies that back up my argument. I don't take this stand lightly. Liz
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