Clock’s Ticking on the Bush Tax Cuts

by Ryan on July 29, 2010

in Economy,Election 2010,Politics

Remember this gem from candidate Obama about how we need to “spread the wealth around” to help everybody?  Or this one about how NO family making under $250,000 will see their taxes go up in an Obama Nation?  Ha!

The real problem for Dems is in the second video:  NO tax increases on the protected class, but he’ll let the Bush tax cuts expire.  Here’s the catch:  millions of American families making under $250,000 got plenty of tax breaks and cuts under the Bush tax plan, which means by letting it sunset you’re automatically raising taxes on most middle class Americans!

The Dems are in a conundrum.  They’d love to rescind the whole thing, but politically that’s difficult in these times.  Keep some, dump other parts is also tricky given that they know the business class and the wealthy drive private sector job growth.  If the Republicans had any guts they’d ask the Dems to state their positions on the record before November, just to watch the Dems squirm and waffle like crazy all Fall!

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