From
Democrats in Congress have a good reason to oppose the president’s tax compromise. Not only will this add to the deficit, by leaving in taxes for the wealthiest Americans, it will actually raise taxes for some poor people, according to CBS News;
“There are a couple elements of the plan, however, that could make a significant difference to Americans in terms of what they pay in taxes.
Firstly, the "Make Work Pay" credit enacted under Mr. (Barack) Obama's stimulus plan would be allowed to expire, and a one-year payroll tax cut would be enacted in its place. The payroll tax, which is technically separate from income tax, funds Social Security and Medicare.”
The site said that taxes for the poorest citizens will go up. The Republicans have flexed their muscle and many Democrats realize they got what they demanded. President Obama argues that the tax cut plan is needed to keep unemployed with an income benefits and to save middle and lower class families from high taxes at a time when they can least afford it. He claims he is thinking about the needs of the economy.
But the Republican Party wants two things. They want to take care of their rich donors, the wealthy people who want to keep their tax cuts but don’t really need them, and they want to prove to the voters they can get what ever they want from a week president willing to buckle under to their pressure.
Obama is gambling on his own presidency by caving in on Republican issues. What many Democrats in the Senate are now worried about is that their constituents will see them as unable to stand up to the Republicans. It is likely that the Democrats also feel that voters will believe there is no one in Congress to fight for the rights of the middle class rather than catering to the upper classes.
Photo from Los Angeles Times
No comments:
Post a Comment