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As you all already know, the tax rates will automatically go back to the Clinton rates and there will be automatic spending cuts (aka sequestration) at the end of the year if no new bill is passed.
The way I see it President Obama should just sit back and let it happen. The Democratic party has been calling for a return to the Clinton tax rates for the longest time anyway. I actually don't see very much downside for President Obama or the Democrats.
These are the two possible outcomes that I see occurring:
1. If sequestration helps the economy, President Obama and probably Congress too will get the credit. We get more economic growth and lower the deficit. The Democrats show that raising taxes do not necessarily hurt economic growth. The economy gets better and President Obama finishes his second term on a high note. Everyone is happy (maybe except for the some extreme right wingers).
2. If the sequestration hurts the economy, some people will blame President Obama but most will blame the Republicans. Why you say? They know that President Obama put the ball on their court - he was willing to work with them. He said he was ready to sign a new bill that made the current tax rates permanent for everyone making under $250,000 a year. Most people will be pissed off that the Republicans didn't take the President's offer.
Nope, I actually want the Republicans and Obama to compromise and come up with something workable. It doesn't have to be perfect. But the Republicans want to turn it into a game of Russian roulette. If they want to play that game, Obama should call their bluff and play.
It is absolutely disgusting how our politicians (BOTH parties) are destroying the United States of America.....
This isn't a frigging game, some American families will be destroyed by these cuts...
But the sheeple will play along with whatever their party says, Democrats egging on Republicans, Republicans egging on Democrats. Too stupid to see where the problems really lie...
Compromise and work towards a solution? You gotta be frigging joking......
Last time I looked a compromise would be when both sides agreed to do a little bit of something they did not like. So they could come together on the parts both sides did like.
Both sides agree to cut taxes on the middle class or shall I say under $250. So that would be the part both sides like. Where is the part that they don't agree on that Obama is willing to do to call this a compromise?
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