Dec 9, 2010

Pressure against Bush tax cuts for wealthy gaining support on Capitol Hill

WASHINGTON - DECEMBER 16:  Sen. Bernie Sanders...

President Obama’s tax cut deal with republican leaders has riled democratic lawmakers on Capitol Hill. While democrats like Vermont Congressman Peter Welch have been publically vocal on their objections to the budget-busting compromise, Republicans have remained silent on the plan which will add $900 billion to the federal deficit.

“The deal to extend the Bush-era tax cuts for two years includes a bevy of additional credits and deductions that will reduce the burden on nearly all households. But the tax benefits will flow most heavily to the highest earners, just as the original cuts did when they were passed in 2001 and 2003. At least a quarter of the tax savings will go to the wealthiest 1 percent of the population,” according to the New York Times.

Independent Senator Bernie Sanders told MSNBC that the GOP tax plan will not create jobs and republicans will use the debt added to the federal deficit as an excuse to go after Social Security and Medicare.

"For a Democratic president, Democratic House, Democratic Senate, to be following the Bush economic philosophy of tax breaks for millionaires, billionaires is absolutely wrong public policy, absolutely wrong politically, and I gotta tell you, I will do whatever I can to see that 60 votes are not acquired to pass this legislation.”

Sanders added, "Millionaires and billionaires do not need huge tax deductions, that's the simple truth," according to the Huffington Post.  "If we're serious about creating jobs in this country, which should be our main priority, that's the worst way to do it. Much better to take that money, invest in our roads, bridges, railroad systems, infrastructure -- you create jobs doing that."

Welch and Sanders are bringing attention to the flaws of the republican deal to extend the Bush tax cuts to the wealthy to the American people in hopes of applying public pressure to defeat the legislation.



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