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Tax Cuts For The Wealthy, The Middle, and The Poor

Posted by American Patriot on December 18, 2010 at 12:44 PM

 



President Obama signs tax-cut bill into law to the delight of Republican leadership, and, to the dismay of Democratic lawmakers. The GOP is jubilant for what they consider is a fanatic victory for their Party, their wealthy friends and contributors, and, of course, their ego. Their rank-and-file ought to be real proud of the outcome of the bill, too, as their leadership displayed unrelenting rigor to the President who secured tax-breaks they selfishly and deniably will enjoy.


Democrats, on the other hand, are just beside themselves, as they feel their leader abandoned his principles and their urgent plea to deny business-protecting Republicans their irrational demands. But, the deal was made and the bill was signed, and we all have to live with it. But, is it really that bad?


All right, so the wealthy got another break. At least our President secured hard working American families a significant tax break for two years, extended unemployment benefits for an extra 13 months, and, cut the Social Security tax rate for one year. In addition to a slew of other tax breaks, the bill patches the Alternative Minimum Tax for two years, and extends the college tuition tax credit, child tax credit and Earned Income Tax Credit for two years. There, happy?


Of course not! I will never forget how the GOP held hard working and struggling families hostage for such a minority of wealthy Americans and businesses forcing the President of the United States to falter on his principles and campaign promises to end the Bush-era tax cuts and other tits they’re sucking off the American taxpayers. If there was ever a time the GOP has revealed favoritism for one group over another, it is the political posturing they displayed this lame-duck session. Forget about the hard working Americans who show up to work everyday struggling from paycheck to paycheck. Forget about the 15 million unemployed Americans struggling day-to-day wondering how they are going to pay their rent. Forget about the $13.8 trillion debt our great-great grandchildren are going to continue to struggle with their entire lifetime. The GOP has a best friend—Big Business—and, when big business wants something, Republicans deliver at whatever cost.


With this said, I’m proud of President Barack Obama.  Despite criticism he received from his own Party about his negotiating skills (or, lack of), he got more out of the deal than his adversaries. Let’s not forget, the GOP said NO to extending unemployment benefits to the unemployed. The GOP said NO to extending tax breaks to working Americans.  The GOP said NO to every element of President Obama’s plan to help the poor and middle-class during these enduring economic times, to such an extent, they blatantly sent a letter, signed by all the GOP senators, to President Obama threatening to filibuster all legislation Democrats would file unless their wealthy friends got their renewed tax breaks.  But, we ended up getting them anyways, right? So, lets stop being so critical of our president and be proud of the deal he struck with the brick wall he was negotiating with!

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