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President Obama on Wednesday will make clear that he opposes any compromise that would extend the Bush-era tax cuts for the wealthy beyond this year, officials said, adding a populist twist to an election-season economic package that is otherwise designed to entice support from big businesses and their Republican allies.
Martin Feldstein, who was economic adviser to President Ronald Reagan, said all the Bush tax cuts should be extended for two years because even letting those for the wealthy lapse would be “a blow to a very fragile economy.”
Originally posted by CitizenNum287119327
reply to post by name pending
I think it is a good move by Obama.
People vote - Corporations don't.
It was disgusting for Bush to bring this in in the 1st place.
He (Bush) essentially is implying that it is OK for the majority of working US Citizens to live off the scraps of the rich (their excesses providing jobs and commerce for the poor).
Balance your 'wants and 'needs' folks. Buy only what you need, shop locally (not walmart and other chains), only buy American made, and bring the corporations down. When the Corporations start hurting the government might start listening.
It's a consumer driven society. The power is with the consumer. Spend wisely, you can direct where the benefits flow.
[edit on 8-9-2010 by CitizenNum287119327]
"I think the president is missing the bigger point here," Boehner said this morning on ABC's "Good Morning America." "You can't have a strong economy if you're raising taxes on the very people you expect to invest in our economy to begin hiring people again."
Yes, and this same "president" has even thought about throwing a national VAT tax, which is definitely something only real a-holes do. VAT taxes are totally punitive to the poor and DO NOT WORK. If they did, Europe would be swimming in Euros right now.
Originally posted by justinsweatt
reply to post by David9176
Oh like the Smoot-Hawley Tariff? Yeah, that worked out REAL well, didnt it?