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Democrats are considering a plan to delay tax hikes on the wealthy for two years because the economic recovery is slow and they fear getting crushed in November’s election.
“I think the recovery is sufficiently fragile that we ought to leave tax rates where they are,” said Rep. Gerry Connolly, a freshman Democrat from Virginia.
“People in the upper tax brackets have a huge impact, a disproportionate impact on consumer spending,” he said.
Even Sen Kent "never met a tax I didn't like" Conrad is for extending the tax cuts.
This is a pickle for the dems, no doubt. Obama promised his Lefty base during the campaign that he would let these tax cuts expire, Pelosi is for letting them expire as well, thereby implementing the largest tax increase ever, in a time of severe economic down turn.
There's nothing like the prospect of an electoral rout to concentrate the incumbent mind, and so all of a sudden rank-and-file Democrats in Congress are saying maybe they shouldn't let the 2003 tax rates expire after all.
Mr. Obama and Nancy Pelosi think they can play their usual class war card to justify raising taxes on the rich, but that's risky political business with unemployment at 9.5%. Who do they think will create new jobs—people making less than $200,000 a year?
Nothing but a hail Mary pass. They are looking for ways to stay in power. IF I were a dem office holder I would start sending out my resume to PAC's and lobby groups asap
But the King's Jester, Tim "Tax Cheat" Geithner, has informed us that the King has already made up its mind to let the tax rates on the rich roll back up. What are these "senators" you speak of?
But the King's Jester, Tim "Tax Cheat" Geithner, has informed us that the King has already made up its mind to let the tax rates on the rich roll back up. What are these "senators" you speak of?
Even Sen Kent "never met a tax I didn't like" Conrad is for extending the tax cuts.
This is a pickle for the dems, no doubt. Obama promised his Lefty base during the campaign that he would let these tax cuts expire, Pelosi is for letting them expire as well, thereby implementing the largest tax increase ever, in a time of severe economic down turn.
As part of the Democratic base, you want those tax hikes to stay in place so you have incentive to vote on election day. As part of the Republican base, you don't want these tax hikes to happen and don't trust the Democrats not to do it, so you have incentive to vote on election day.
If Democrats promise the same thing as Republicans, guess what? Republicans are still voting Republican but Democrats are just staying home on election day.
Should be interesting to watch as obama throws those members of congress that went out on a limb for him (and are paying for it), under the wheels of his bus.
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