Leave no Billionaire Behind...
By louisehartmann
Giant U.S. companies and their multi-millionaire CEOs have stepped up their lobbying to block Democrats' plans to let the Bush tax cuts on wealthier Americans expire at year's end. Republicans and business say that letting the Bush tax cuts expire will choke off the economic recovery, and they are demanding that Democrats commit to hearings, a mark-up of legislation and then a movement to the Senate floor for a vote to extend the tax cuts for the very rich. As Paul Krugman notes in his opinion piece yesterday, this would be the equivalent of 120,000 wealthy people getting $3 million each every year. The Bush tax cuts for millionaires and billionaires have added, when including interest, over a trillion dollars to our national debt, money which will have to be re-paid by you, me, and our children. Now Republicans want to extend these billionaire tax cuts for a single and a simple reason: the billionaires fund the Republican party and it's candidates.
Comments
#2
I think we will see Democratic support for this considering this is an election year the economy is way down and Democrats want to keep there jobs. The tax cut is over stated anyways, blue collar
working class people will not get anything.
#3
Between the corporate welfare and the low taxes paid by the wealthy, it is no wonder that we have revenue shortfalls. It is time that the U.S. government begins collecting the needed revenues. The media is always trying to conflate the issue of middle class taxes and those of the billionaires.
Thom's Blog Is On the Move
By webmaster
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