Thom's blog - Thursday November 11th, 2010
You need to know this about the Bush tax cuts. The millionaires and billionaires win again – it looks like President Obama is ready to give in to Republicans and extend all the Bush tax cuts. In an interview with the HuffingtonPost – Obama’s top White House advisor David Axelrod hinted that the only way middle class tax cuts can be extended – is by increasing the wealthy ones as well. This is the first time a senior official in the administration has gone on the record saying the President is willing to consider extending tax cuts for the rich. For some reason President Obama continues to believe a policy that benefits 2% percent of the population at the expense of 98% is "bipartisan." With a majority of the country supporting letting tax cuts for millionaires expire – it seemed this was a battle Democrats could win. I guess not – surprised?
A Tax cut for ALL!...
Nicole Sandler of Radio Or Not has been preaching this differently. What happened, Thom? You are forgetting that EVERYONE benefits from the so-called Middle Class tax cut. EVEN the millionaires and billionaires benefit -- but only on their FIRST $250,000 -- That is the meme we should be using. It is a tax cut that benefits everyone and preserves the economy: a win-win!!