20 September 2011

A NEW HOPE

The fall has arrived... and the Democrats are stepping it up. The American Jobs Act, along with a fresh push to end the temporary extension of the Bush Tax Cuts, is precisely what the majority of America wants...

Of course, the GOP will try to say that the president himself endorsed the Bush Tax rates when he signed the extension in December 2010. Do not forget that President Obama made it very clear why he extended it back in December. The GOP was holding hostage several legislative and fiscal matters; among them: unemployment benefits, the New START Treaty ratification and, of course, "Don't Ask Don't Tell" repeal, in exchange for a two-year extension of the Bush Tax cuts. The president made it very clear that his December signature was for a temporary extension. [Yes, big fat emphasis on "temporary."]
"Now, Republicans have a different view.  They believe that we should also make permanent the tax cuts for the wealthiest 2 percent of Americans.  I completely disagree with this.  A permanent extension of these tax cuts would cost us $700 billion at a time when we need to start focusing on bringing down our deficit. And economists from all across the political spectrum agree that giving tax cuts to millionaires and billionaires does very little to actually grow our economy." 
He goes on.

"As a result, we have arrived at a framework for a bipartisan agreement.  For the next two years, every American family will keep their tax cuts -- not just the Bush tax cuts, but those that have been put in place over the last couple of years that are helping parents and students and other folks manage their bills.
In exchange for a temporary extension of the tax cuts for the wealthiest Americans, we will be able to protect key tax cuts for working families -- the Earned Income Tax Credit that helps families climb out of poverty; the Child Tax Credit that makes sure families don’t see their taxes jump up to $1,000 for every child; and the American Opportunity Tax Credit that ensures over 8 million students and their families don’t suddenly see the cost of college shooting up." President Barack Obama, December 6, 2010.
I can't imagine the president being any clearer: the Bush Tax cuts, for some income brackets at least, will be the subject of much intense debate in the coming months. If the debate is honest - and not filled with demagoguery (like calling it "class warfare"), then this is the Democrats' winning conversation for the 2012 election.