In what I see as a hint of things to come, the GOP is being conned into a so-called “compromise” on extending the Bush tax rates. Why do I think this? Let me explain…
First, consider the run-up to this sham compromise: the dems make a big show of trying to pass a bifurcated version of a tax code extension (that is, an extension for incomes under a certain threshold, initially $250,000, and expiration for incomes over that threshold). Of course they were unable to get this passed due to those nasty republicans who are “holding the American people hostage”.
Wait a minute here! Yes, the GOP won enough seats to retake control of the House but these folks are not seated until January, 2011. In the meantime, isn’t the current Congress virtually the same as the one that shoved Obama-care down our collective throats just a few months ago?? They could do that, over the protest of a clear majority of Americans, but they could not pass a partial tax code extension that could possibly have gotten majority support if presented properly? Give me a break. The dems did not pass the partial extension because THEY DID NOT WANT TO!
Why would they not want to? Consider this: letting the current tax rates expire would surely have further damaged the economy; but, there is no reason whatever to think that extending them will help the economy for the simple reason that these are the rates that were in effect during the economic downturn. So, letting the entire package be extended simply maintains the status quo, nothing more, nothing less. Ergo, allowing an extension of current rates should not give the GOP any long-term benefits to help them in 2012. After all, nobody can run an effective campaign against something that did not happen (such as the tax increases and subsequent damage)
But they do give Obama something to run against in 2012. I can already see the campaign ads… “I wanted to raise taxes on the rich in 2010 but the mean GOP would not let me – instead they held the country hostage… give me 4 more years and a democrat congress and we will get it done!”
In the meantime, do the dems get anything else out of this “compromise”? You bet they do. 13 more months of “unemployment insurance”, another giant leap toward something the progressives have lusted after since the crime that was the FDR administration – a national minimum INCOME, guaranteed by our government.
For sure, Obama seems to be crying crocodile tears over what the nasty GOP is about to “force” him to do. Before eating this crap, remember the consummate actor he was during the campaign. He may not know how to run a government but he sure knows how to serve up BS in a package that looks like filet mignon to the gullible.
Again, I hope I am wrong. It remains to be seen.
Troy L Robinson