Monday, December 6, 2010

How Long Can This Go On?

From the New York Times:

"As the White House and Congressional Republicans near a deal on sweeping tax legislation, including an extension of the Bush-era tax rates for all income levels, President Obama has agreed to give up the “Making Work Pay” tax credit that was the central tax break for middle and low-income Americans in last year’s economic stimulus bill."

And what did the Republicans "agree" to give up?
"Officials said negotiators were also close to an agreement to restore the federal estate tax, which lapsed at the start of this year, with an exemption of up to $5 million per individual, and a maximum rate of 35 percent."

In other words, what the Republicans agreed to was a mammoth cut in the estate tax, in return for which Obama gave up the "central tax break for middle and low-income Americans" in his stimulus package.  The Republicans graciously consented to let Obama screw the middle class, in return for his giving a gift to the rich.  I've never heard of a negotiator who gives up on something important so his opponents will consent to let him give up on something else important.

Man, the fate of the whole world seems to have come down to how much of a craven sucker one man can be.

1 comment:

tnlib said...

It breaks my heart but I have to agree.