Thom's blog - Friday December 3rd, 2010

You need to know this about the tax cuts debate. The House yesterday passed legislation to extend the Bush tax cuts for ALL Americans on their first $250,000 of income per year. In response – Senate Majority Leader Harry Reid is planning on holding two similar votes tomorrow – extending tax cuts for everyone on their first quarter-million in income, but no tax cuts above that. However – all of this – may be for naught. News is emerging from the White House that a deal has been made to extend the Bush tax cuts for millionaires and billionaires in return for an extension of unemployment benefits for the nation’s jobless. So it looks like the Republican’s tactic to hold hostage poor and working class Americans this holiday season in return for their buddies getting billions in tax cuts – just may work. How can they get away with this? Whether it’s a failure of our President – our media – our Senate rules – or all of the above - something must change. Or else Obama will be a one-term president.

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