The federal tax dustup is in full view on national TV. Obama is mad, and it shows on TV. He wanted to hike taxes on the upper middle class ($250K). He didn't have the votes to make that happen. He doesn't want to impose a tax hike on the entire country, that would leave us stuck deeper in Great Depression 2.0, and everyone would blame him for that disaster. The Republicans said the only income tax they would accept is no tax hikes for anyone. And they have the votes to make that stick.
So Obama cut a deal, no tax hikes for anyone (good idea) in return for more unemployment payments (mediocre idea). Plus some other tax breaks that I don't fully understand yet, and 35% estate tax with a bigger exemption. The Republicans signed on. The Democrats are furious, they think Obama got rolled.
Obama clearly is mad at everyone. He called the Republicans "hostage takers" which is sorta dumb. After you cut a deal with someone, you don't call them names. He then proceeded to lecture his democrats on the virtues of compromise, which came across as patronizing.
Politics as a blood sport. Can be fun to watch on TV.
1 comment:
While mindless celebrity gossip sometimes takes attention away from real world problems; it also serves as distraction from the constant flow of bad or
sad news. Commonly, news content should contain the "Five Ws" (who, what, when, where, why,
and also how) of an event. Though these often seem complicated when seen on national news programs, they are
relatively simple to construct.
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