Dems Calling for Tax Breaks for All
There is a letter circulating around the Senate, written by Democrats, calling for an extension of the current tax breaks for all income classes, including the wealthy.
In the paper written by Utah Rep. Jim Matheson, Illinois Rep. Melissa Bean, Virginia Rep. Glenn Nye and Michigan Rep. Gary Peters, they stress to House Speaker Nancy Pelosi and House Majority Leader Steny Hoyer that the tax breaks should be extended - even to the wealthy. To the wealthy?
You mean the same wealthy who are probably putting pressure on the 30+ Democrats that have already signed the letter? The same wealthy donors who are putting pressure on the Republicans already not supporting Obama's planned cut of the tax breaks? It appears as if the Democrats are folding to peer pressure!
Correct me if I'm wrong, but isn't it the Democrats that are always whining that the Republicans always cater to the wealthy 2% of the population? If I recall, that was the complaint when the tax breaks first went into effect. Now, Obama wants to end the tax breaks for the rich (in my neighborhood if you make over $250K you are rich, or at least well off) and continue them for the middle class. The class who really needs them.
The Democrats' statement in the letter is even more confusing, as it seems to stress tax breaks to the middle class and has nothing to do with the rich. The letter reads; "raising any taxes right now could negatively impact economic growth.
"We believe in times of economic recovery it makes good sense to maintain things as they are in the short term, to provide families and businesses the certainty required to plan and make sound budget decisions. Providing this certainty will give small businesses, the backbone of our economic recovery, confidence and stability."Continued on the next page