Posted on 12/09/2010 8:23:06 PM PST by JohnRLott
For years, Democrats have bashed Republicans over tax cuts. Tax cuts supposedly did nothing to encourage work and, thus, when President Bush cut tax rates across the board, it only lined the pockets of the wealthy.
This rhetoric repeated over and over for the last decade. But now President Obama's tax rate agreement is creating massive confusion among Democrats and many Senators will cast their vote tonight in contradiction to their previously stated positions.
In September 2001, a New York Times editorial summed up the received wisdom of Democrats: "the Bush tax cut wasn't designed to fight a recession."
The very same editorial noted that Larry Summers, presently Obama's chief economic adviser, also opposed Bush's lower tax rates as he claimed it wouldn't help the possible recession the economy was then suffering. Well, that was then, this is now. On Wednesday, Larry Summers told reporters that failure to maintainthe Bush tax rates "would stall [the economy] and we would have a double dip" recession. . . .
(Excerpt) Read more at foxnews.com ...
This bill added 900 billion to the national debt over 2 years. You can forget about congress doing any meaningful cutting of debt. That includes the republicans.
You can always count on democrats to get caught in their web of lies.
The GOP are the BIGGER hypocrites here.
They added more spending and bigger deficits...completely independent of the tax cuts.
The EXACT OPPOSITE of what the party ran on in 2010.
Their betrayal didn't take long at all.
More of the same,NOTHING has Changed.
LOOK OUT BELOW
This is all a head fake by obama.
He comes out and announces that he has made a deal with the still minority repubs. He doesn’t include the still majority democrats. Pelosi and reid are NOT going to allow the tax rates to be extended. They want the tax rates to increase. So when Jan 1 comes around and the income taxes reset back to bill clinton era rates, obama can claim that he really wanted to cut taxes but his own party wouldn’t play ball. Not his fault.
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