Bush Tax Cuts: Obama Isn’t Getting Full Support From Democratic Party

By Richard West on July 29, 2010, 8:57 am

President Obama has been talking lately about eliminating the Bush tax cuts. The cuts that he is proposing the eliminate are the ones that effect the top 2% of the American public. The tax breaks for the rest of the country will be maintained. Even without action, the tax cuts will end after this calender year. Republicans are up in arms spouting their supply side theory and some Democrats are even questioning this move

Tax Cuts

Every President changes up the tax laws and it seems like the next President always tries to undo them. What President Obama is pushing, would restore the taxes to a near Clinton level. In this economy, it makes sense that most Americans need to keep more of their money. More and more of them are out of a job. Because money is so scarce, people aren’t spending money and are sending more and more industries out of business.

 

Democrats Have Spoken Against This Plan

Most Democrats in congress have just remained quiet. However, some have begun to argue fervently that the tax cuts are a win win for everyone. They recognize that adding taxes to an already burdened economy can only make things worse. Obama wants to tax more to shrink the massive federal deficit that he himself has created. Some of the silent Democrats are arguing that the only reason other party members are speaking up is to try to cater to the right come reelection this November. It is creating some strife within the party. Internal Strife is never good for a system. Other Democrats have begun to argue that they should delay the end of tax cuts by 2 years. That is a compromise that both sides of this issue may agree to.

Related posts:

1. Bush Tax Cuts: How They Will Affect The Wealthy & Middle Class
2. Bush Tax Cuts: Do Democrats Up For Reelection Lean To A Go
3. Obama Business Supporters Disappointed over Tax Cut Delay
4. Tea Party Movement Guiding GOP Back To Its Roots & Liberals Out
5. Bush Tax Cuts Expire: Most Recent Poll Results