Sunday, July 8, 2012

McConnell Offers Obama "Deal" On Bush Tax Cuts: Extend Them

Republican Senate Minority Leader Mitch McConnell offered a "deal" to President Obama on tax cuts for the wealthy, due to expire in December: keep them going one more year. This would follow the previous "temporary" two-year extension. The White House doesn't see this as a bargain:

"What we ought to be doing is extend the current tax rates for another year with a hard requirement to get through comprehensive tax reform one more time," said Senate Minority Leader Mitch McConnell, R-Ky., speaking on CNN's State of the Union.

President Obama and aides have shown little interest in a one-year extension, saying the Bush tax rates should be extended for middle-class Americans but ended this year for the wealthiest.

..."Do you think we are a Bush tax away for a millionaire away from a flourishing economy?" [Former White House press secretary Robert] Gibbs said. "Or should we protect and keep taxes low for middle-class families and give them a chance?"


labman57 said...

McConnell insists that he wants to compromise on tax cuts.

Unfortunately, the Republican concept of compromise -- a key component of any meaningful negotiation -- is for the opposition to discard their own beliefs and completely embrace the conservative point of view.

In short, their notion of negotiation involves capitulation by the opposition­.

Suggestions that tax cuts for the ultra-wealthy will stimulate job growth is simply their cover, their disingenuous talking point designed to try to sell their Reaganomic bill of goods to the public. Ultra-wealthy Americans made a major investment in the Republican Party during the 2010 mid-term elections. The GOP is simply carrying out the job for which they have been duly paid.

Jeff Tone said...

Labman57, you are precisely right on all counts: the Republican inability to compromise, the fraudulent rationale for tax cuts for the wealthy and the need to satisfy the constituency that supports their campaigns.