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Hillarysworld -> Obama and Congress -> Krugman: Let’s Not Make a Deal (12/5/10)
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TOPIC: Krugman: Let’s Not Make a Deal (12/5/10)
Sanders


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Krugman: Let’s Not Make a Deal (12/5/10)
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NY Times.com Op-Ed Columnist

Let’s Not Make a Deal

By PAUL KRUGMAN
Published: December 5, 2010
Back in 2001, former President George W. Bush pulled a fast one. He wanted to enact an irresponsible tax cut, largely for the benefit of the wealthiest Americans. But there were Senate rules in place designed to prevent that kind of irresponsibility. So Mr. Bush evaded the rules by making the tax cut temporary, with the whole thing scheduled to expire on the last day of 2010.

The plan, of course, was to come back later and make the thing permanent, never mind the impact on the deficit. But that never happened. And so here we are, with 2010 almost over and nothing resolved.

Democrats have tried to push a compromise: let tax cuts for the wealthy expire, but extend tax cuts for the middle class. Republicans, however, are having none of it. They have been filibustering Democratic attempts to separate tax cuts that mainly benefit a tiny group of wealthy Americans from those that mainly help the middle class. It’s all or nothing, they say: all the Bush tax cuts must be extended. What should Democrats do?

The answer is that they should just say no. If G.O.P. intransigence means that taxes rise at the end of this month, so be it.

Continues

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It will hurt a lot more people than the middle class, but I'd say, let it expire.

THEN, a new plan can be brought that is for only the (lower) middle class.



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jdona


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I don't know why people keep expecting Obama to stand firm on anything. He has already proven that he won't. At this point, I'm more a fan of John Kerry for calling it like it is in public, than anyone else. At least he will stand up to Mitch McConnell. We are royally screwed.

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jdona wrote:

I don't know why people keep expecting Obama to stand firm on anything. He has already proven that he won't. At this point, I'm more a fan of John Kerry for calling it like it is in public, than anyone else. At least he will stand up to Mitch McConnell. We are royally screwed.


I agree.  Obama has no ability to pass serious reform -- all the work previously was done by Pelosi or Reid, it appears now.  He really does not know how to get 60 votes in the senate. Does he not know how to make deals?

Both Sen.Kerry and Sen.Schumer have stood up and called it like it is.   I hope they manage to salvage the party platforms.

What a place to fnd ourselves in. 


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Sanders


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Tax Cut Deal: White House, GOP Leaders Close To Agreement


It's confirmed. Pres.Obama is a Republican when it come to taxbreaks of every kind for the rich!

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Sanders


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Pres.: Bipartisan plan "right thing to do"

Yeah, RIGHT thing to do, it is!  As in Right-wing thing to do.

I am disappointed in this country.

I hope most Dems vote against it.

And we know at least one Repub will vote against it.

Retiring Sen. George Voinovich to oppose any extension of Bush-era tax cuts

Time to call our Reps and ask them to vote No on Pres.Obama's deal for the rich.


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Jen the Michigander


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I'm OK with tax breaks for the rich as long as the rich are required to behave in ways that are socially responsible and beneficial to the larger US economy. If they invest $$$ in a business that's going to create jobs in the USA for American workers, great. Or if they're shifting to clean energy practices, fine. But I absolutely do not support giving anything to greedy corporate fat cats whose business practices are creating massive social or environmental problems.

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Sanders


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So am I.   I would be delighted if the rich created jobs in the U.S. So, credit for new and additional job creation in the U.S. would have been sensible, especially combined with some penalty for taking the job outside the U.S.



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