After the December 8th press conference by President Obama conceding to go against his own political agenda and compromise with Republicans over the Bush-era tax cuts, it looks as if the progressive loons in the far-left wing of the Democratic Party are going to put politics before the people and stop the package dead in its tracks.
“This is not an abstract debate. This is real money. It will make a real difference in the lives of the folks who sent us here. A long political fight that carried over into next year might have been good politics, but it would be a bad deal for the economy, and it would be a bad deal for the American people.”
President Barack Obama
In addition to affecting the financial lives of individual Americans, the uncertainty over the future of the Bush-era tax cuts is playing a crucial role impeding business stimulation and job growth at a time when both are critical for America’s economic health.
The package not only includes a two-year extension of the tax cuts for those making less than $250,000 per year, but includes the two-year extension for all Americans with no income limitations which the far-left opposes with fanaticism.
In addition to an extension of the tax cuts, the legislation would also allow for an additional extension on unemployment benefits which are due to expire at the end of this month, affecting millions of Americans.
But what really has liberals riled up is the estate tax provision, also known as the “death tax,” which would make the first $5 million tax-free for each spouse totaling $10 million, with the remainder being taxed at a rate of 35%.
At a time when President Obama appears to be regaining some common sense and moving to the center as Bill Clinton did when the Democrats were wiped out in 1994, the far-left liberals continue to pound away at the final nails in the Democratic coffin by enforcing their ideology at the expense of the American people despite being tossed out of office.
Rep. Gary Ackerman (D-N.Y.) illustrates the liberal tantrum best on MSNBC when he referred to the tax-cut extension package as the “Republican Wet Dream Act.” His crude correlation shows that he and like-minded Democrats have truly lost touch with why they are in office, and will shove their agenda down the throats of America with zero regard for the lives of the everyday American people who elected them.
In a morning after Democratic caucus, the liberal wing of party voted to reject the compromise that President Obama advocated, going so far as to say, “F**k the President.”
Soon to be ex-House Speaker Nancy Pelosi is threatening a refusal to bring the compromise for a vote before the House floor, while Senate Majority Leader Harry Reid has said that he won’t let the package go through the Senate without substantial changes.
The move is a sharp rebuke to Obama as he continues to argue,even going so far as to having a joint press briefing with former President Bill Clinton to lend credibility that Democrats must get behind this package or the nation’s economy could be severely damaged and the recovery might begin to move backwards if it fails to pass.
“Both sides are going to have to eat some things they don’t like. We don’t want to slip back into a recession. We’ve got to keep this thing going and accelerate its pace. I think this is the best available option. I don’t believe there is a better deal out there.”
Former President Bill Clinton
“We are going to keep on having this debate. We are going to keep having this battle. But in the meantime I am not here to play games with the American people or the health of our economy. If I have to choose between having a protracted political battle, on the one hand, but those folks being hurt – or helping those folks and continuing to fight this battle over the next two years. I will choose the latter.”
President Barack Obama
Because progressive left Democrats have no interest in everyday Americans except for on Election Day, the fight appears to be escalating into a protracted political debate that will only serve to hurt the American people and economy.
The Democrats are fine with a two-year extension of the tax cuts, but only for those making less than $250,000 per year which would certainly do nothing to stimulate job growth. Further, they simply will not compromise on the liberal Holy Grail estate tax. The $5 million per person tax-free amount is out of the question, and the 35% tax rate thereafter is far too low.
As the ticking of the clock begins to slow for the 111th Congress and the members prepare to go home, many for the last time, they are asked how they will face their constituents. They actually have the nerve to justify their actions by claiming this is an abstract battle that really means nothing because when the Republicans come to power in January they will sweep the package through to a President who is willing to sign it.
The time for the 111th Congress to come to an end could not come soon enough. This blatant example of liberal lunacy is going to cost all Americans further economic pain and hardship as jobs remain sparse, paychecks become smaller, and unemployment insurance for millions of Americans depending on it will expire. It just goes to prove that the far-left liberal zealots who now represent the power base of the Democratic Party are definitely not looking out for you.