There is no catastrophic “fiscal cliff.” Both parties have embraced the term “fiscal cliff” to describe a return to the federal tax rates that existed before both political parties passed of the Bush tax cuts in 2001.
If someone like me gets tax breaks, shouldn’t there be provisions for low- and moderate-income working families — provisions such as a state earned-income tax credit, a proposal killed by the Senate?
Fair is fair.
All three major indexes are set to rise today after President Barack Obama signed a $858 billion package Friday renewing tax cuts for another two years and extending expiring unemployment benefits through next year.
The Senate overwhelmingly passed a sweeping tax package today that would save millions of Americans thousands of dollars in higher taxes while also reducing their Social Security taxes and extending jobless benefits.
To say that Bush won approval solely through his claim of weapons of mass destruction is unfair, simply because most political elites in Washington have the same access to information as the president does.
Democrats have called every spending increase they’ve pushed through in the last year and a half “urgent.”
But when it comes to middle-class Americans’ tax cuts that are about to expire, Democrats are taking their sweet time. At least we know where their priorities lie.
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