I wonder, will President Obama regret his continuing the Bush tax cuts? I hope so. He should have stood his ground a little longer, the way he is doing now with the debt ceiling.....
Those tax cuts were WRONG then and they are WRONG now. But what are the Republicans doing? Seeking even more cuts to the wealthy while fighting for permanent tax cuts that are killing us, ALL of us..well except for the top 2%.... Think Progress:
Nearly 10 years ago, on August 1, 2001, the Associated Press reported that the Treasury Department was tapping $51 billion of credit in order to pay for the budgetary cost of the first round of Bush tax cuts’ rebate checks. The AP reported at the time that Democratic Party opponents of the tax cuts worried that they’d return government budgets to “red ink“:
The opponents of the tax cut turned out to be right. The 2001 and 2003 tax cuts combined have blown a $2.5 trillion hole in America’s budget and created deficits stretching on for years.
3 comments:
Republican Consistency -- Wrong in the past, wrong in present, wrong in the future.
Pat Toomey is on TV now hysterical in his stance on the debt ceiling, not understanding why the president is not supporting the bill passed by the House yesterday. They just don't get it!
I think the Obama haters are gonna be quite surprised, Obama is not gonna cave to those morons who have demands the people just do not agree with. There's a meeting today with Obama and Dems, I'm very optimistic. The GOP is losing the argument.
Repeal of the bush tax cuts should have been at the top of President Obama's agenda from DAY ONE. I think it would have been a better stimulus than the Economic Recovery Plan.
The Democrats were wrong then and are still wrong now too. Wrong then for not repealing the bush tax cuts for including tax cuts in the stimulus. Wrong now for offering 3 to 1 spending cuts over revenue increases.
We're getting screwed from both sides.
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