President Obama understood that cutting the tax burden for the working/middle class was an important part of his economic agenda. He also understood that it was a key part to building a political majority. Unfortunately, his Senate budget chairman seems bent on undermining it. On 25 March 2009 the chairman went about undermining the tax cuts after 2010 according to the NY Times. By early April the chairman was press releasing his support for middle class tax release in the budget. By the end of
April, he already had set in motion the undermining of the tax cuts by cutting them from future budgets. Combine that with the proposed carbon taxes and the middle class will be hit with terrible costs.
President Clinton lost the Congress in part because the Democrat party went left on social issues and in part because they abandoned his middle class tax cuts. The people elected Republicans who spent 4 years in the wilderness apologizing for the Bush 41 tax increases. The party lost a great opportunity once and it looks like Kent Conrad is poised to repeat history. (The GOP is leading in Generic Balloting for Congress) More power to him.
David this is shocking , if only there had been people before the election who could have predicted that those tax cuts would never pan out.
Unbelievable isn’t it. I thought the numbers were all worked out. I just had to believe. May be we need to believe harder.
David you’re not far off I’m afraid because with these tax and spend types they will come back when there plan doesn’t work and tell us we just didn’t tax and spend enough, fast enough. Just look at history and FDR.