Image via Wikipedia It could be called the worst form of corporate welfare in American history. At a time when the working class needs the leadership in Washington to stand up for them, President Obama seems ready and willing to sell out the base that elected him with a tax plan that looks a lot like steal from the poor and give it to the rich.
As such, Obama has made it clear that he is not acting like the liberal, socialist Democrat his Republican rivals have been accusing him of being. A loyal Democrat would not surrender on tax breaks for millionaires without a fight. But that is exactly what President Obama appears to be willing to do.
Obama admits that extending the Bush tax cuts for the richest people in America, “won’t significantly boost the economy, and it’s hugely expensive so we can’t afford it.” But instead of fighting for what he admits is not best for America, he is hiding behind verbal gymnastics by claiming that extending the Bush tax cuts for millionaires and billionaires is just fine, as long as they are not “permanent.”
The White House has not yet announced the details on exactly how long “temporary” is, but whatever length of time is finally decided, it will still be unfunded and add about $700 billion worth of borrowed money to the $13.7 trillion debt, on top of the $1.4 trillion dollar deficit.
The Republican Party and Tea Party candidates that ran on a fiscal responsibility platform are proving to be carpetbaggers who put one over on the American electorate. So much for “change” in Washington.
The Republican Party and Tea Party candidates that ran on a fiscal responsibility platform are proving to be carpetbaggers who put one over on the American electorate. So much for “change” in Washington.
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