Progressive Democrats have spent the better part of the week in hysterics about President Barack Obama’s tax negotiations with Republicans. The gist of the hysteria: “We just CAN’T afford those tax breaks for the rich—Republicans are holding us hostage!”
The bottom line on that hysteria is the real hostage takers are portraying themselves as victims.
Now articles are showing up about what Obama grabbed for progressives in that infamous (unlegislated) agreement, and it’s obvious progressives should’ve been whistling all the way to the deficit bank in China.
Even though the first Stimulus bombed, the provisions in the Obama-GOP tax agreement constitute what media are calling Stimulus 2.
Republicans agreed to extend unemployment, cut payroll taxes and accept sweetheart deals for college kids and their parents.
USA Today said, “Of its estimated $900 billion-plus cost over two years, roughly $120 billion covers the high-end tax cuts and the estate tax cut, $450 billion covers Mr. Obama's wish list and $360 billion covers the tax cut extensions both parties favored.”
Meanwhile the man who appears to be the only sane person left in Washington, Sen. Jim DeMint (R-S.C.), has been vocal about the fiscal insanity. DeMint issued a statement via his Senate Conservatives Fund. He will not support the package and here’s why:
- It includes approximately $200 billion in new deficit spending and stimulus gimmicks.
- It actually raises some taxes.
- The bill includes dozens of earmarks for special interests, including ethanol subsidies, tax breaks for film and television producers, giveaways for Puerto Rican rum manufacturers, favors for auto racing track owners and a handout for businesses in American Samoa.
Those are just a few of DeMint’s complaints.
Meanwhile, if the sweetheart deal the president negotiated did not please socialist progressives, nothing will please them.
In the Lamebrain Duck Congress, Democrats have continued to spend billions of dollars on non-vital legislation. They’ll keep doing that right until Christmas if we let them. These Democrats have lost all credibility when it comes to the deficit.
Republicans should dig in and hold out for less spending and no tax increases whatsoever.
If Democrats fail to act and a tax increase does ensue, voters will certainly not forget it come 2012. Whatever happens, insist the socialist progs in the Dem party man up and take responsibility for holding common sense hostage. Dems in Congress should've been down on their knees thanking Obama who is definitely the man when it comes to seizing a crisis. (Commentary by Kay B. Day/Dec. 10, 2010)