Obama posted an Organizing For America video to state his case for his tax cuts compromise. Obama continues to talk about compromise and bipartisanship. All Obama accomplished was alienating the base and continuing the same tax cuts that haven't stimulated the economy. I continue to be convinced that the Deficit Commission was nothing more than political theater.
Obama loses any pretense that he is concerned about the deficit. All of the tax cuts will add to the deficit. Obama froze federal pay without even attempting to use it as a bargaining chip. Unemployment extension could have been a separate fight. Republicans would lose politically if they hold up unemployment extensions. Instead, Republicans can say they supported aiding the unemployed.
The Obama administration and Republican Party deal dropped the estate tax from 45 percent to 35 percent for people giving $5 million to their heirs. Obama laughably says the tax cut deal with stimulate the economy. Speaker Nancy Pelosi is not happy about the estate tax deal.
“We believe the estate tax in the bill is a bridge too far,” the Speaker said. That provision shifts the balance in the agreement to Republicans and “ends any kind of symmetry between the two sides.”
What makes matters worse is that their is no certainty in the tax structure system. This is horrible policy. Come 2012, we will have the same political fight during a presidential election year. Progressives are not going to believe Obama's promise of repealing the two top upper-income brackets when he is up for re-election. The middle class will have uncertainty about their tax rates. The federal government will have a harder time calculating deficit reduction (as if either party cares) and the budget. Early leaks of the price tag are $700 billion to $900 billion. Obama and the Republicans are digger a deeper fiscal hole for tax cuts that don't provide stimulus.
This was the time for Obama to fight. The complaint from some progressives is criticizing Obama helps the Republicans. This is about the American people. Obama and Republicans are placing their personal political priorities above stimulating the economy and dealing with the deficit. The federal government needs to start another FDR-style jobs program. Roosevelt was able to employ 4 million people in the first two months of the program. $700 billion to $900 billion being wasted on tax cuts could be used to give people jobs.
Obama's idea of getting tough is talking down to his own base.
And we will be able to feel good about ourselves and sanctimonious about how pure our intentions are and how tough we are, and in the meantime, the American people are still seeing themselves not able to get health insurance because of preexisting conditions or not being able to pay their bills because their unemployment insurance ran out.
LynnW49 read that Obama comment and posted how Obama's so-called health care reform is financially hurting her.
Thanks to the bridge plan in Obamacare, I did get health insurance this fall. In the first 3 months, it has gone up 20% so that it now costs more than the insurance plan I lost before Obamacare. I have the right to criticize the Obama compromises on health care. I now have insurance, but I will not have it for for long because the rate increase makes it unaffordable.
I am not saying that the Republicans are better because they certainly are not. The current version of the GOP is a right-wing fringe group run by people like Jim DeMint. However, Obama's policies have real world consequences to many Americans. The holiday payroll tax will have a negative impact of Social Security revenue. Millions of American seniors depend on Social Security. To say we can't criticize is because it will help Republicans misses the point that are elected leaders are suppose help the American people. We are seeing a lack of leadership from Obama and Republicans.
i like site
ReplyDelete