The Republican argument that giving tax cuts to the richest Americans will get them to create new jobs is clearly bogus. The tax cuts were enacted in 2001 and ramped over the past decade. They are currently at their peak so those Americans should be creating jobs at a prodigious pace right now.
Taking a look at the current unemployment rate, it’s clear that those jobs have not been created. So why should we believe speaker-to-be Boner that things will be any different by extending the cuts?
It’s simple, they won’t be any different.
Unless democratic senators stand up and support Bernie Sanders and his promise to filibuster this deal, things will not get any better as a result of this extension. Obama should be absolutely ashamed of himself and rather than whining about “sanctimonious and pure” people that oppose this deal, he should grow a pair and realize that republicans never have and never will compromise with him. He is the only one compromising here and has clearly demonstrated that he has no credibility left.
It’s even worse than that. Not only are pointless tax cuts for the super wealthy extended but the Build America Bond program is to be stopped in its tracks. Apparently, the GOP would like to dig the hole even deeper to advance their agenda of sending more money from middle class to the rich. Check out http://blogs.reuters.com/james-pethokoukis/2010/12/07/secret-gop-plan-push-states-to-declare-bankruptcy-and-smash-unions/
At this point I’m ready to write-in Bernie Sanders next federal election.