Bush Tax-Cut Expiration

No new tax increases are proposed. The expiration of the ‘Bush Tax Cuts’ was part of the law passed by the Republican Congress and signed by George W. Bush. Any extension of the existing ‘discount’ rates is a separate tax CUT. Obama proposed just such a tax cut for all but the richest tax-payers. In this economy, we can’t afford a new tax cut for those whose incomes tower above the rest.

Republicans and Blue Dog Democrats in Congress are holding Obama’s middle class tax cut hostage for a new tax cut for the wealthy. This is their MO – if the Democrats want something for working people; they have to negotiate a privilege for the ultra-wealthy. This has been demonstrated repeatedly.