Anonymous
Anonymous asked in Politics & GovernmentGovernment · 1 decade ago

Why are 2 house democrats urging Obama to extend Bush tax cuts?

Is this the start of conceding Obamas way isnt working?

12 Answers

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  • 1 decade ago
    Favorite Answer

    Because in a few months people will see last's years Obama's ":cuts" were simply less with holding, and no cuts. Meaning people who normally get large refunds, will get smaller ones this year, or actually owe.

    They were also conned into believing the Bush tax cuts were only for the rich. In reality, those in middle and low income brackets, got a higher percentage tax cut then higher income earners. When that 1st reality hits this April, people won't be happy. When their taxes increase when the Bush cuts go away, they will be outright angry.

    People will rationalize, deny, and look away from lies and broken promises until it hits them directly in their pocket book. When that happens, all the "I inherited this", "It's Bush's fault", "give it more time", isn't going to be accepted.

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  • 1 decade ago

    Repealing the cuts and further taxing the high wage earners, otherwise known as job creators, will extend the recession even more.

    In California, only 200,000 people have been paying most of the state income tax. When these people lost money in the stock market crash, the state has gone $20 billion dollars in the hole.

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  • 3 years ago

    it truly is how Keynesian economics artwork. for sure you not in any respect been in an economics classification. the thanks to get out of a recession is to lessen taxes and ramp up authorities spending. FDR did this in the course of the melancholy and it worked. Ronald Reagan did this throughout a recession and it worked. that's effortless economics. even as the non-public sector is extra healthful and extra reliable, then you definately can commence to enhance taxes and cut back authorities spending to even out the deficit. Time to get an education.

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  • Cvjed
    Lv 4
    1 decade ago

    Because if they aren't renewed the current democrats will be branded as RAISING TAXES (even though they didn't!) in the upcoming elections by their republican opponents!

    those demos are probably up for re-election this year.

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  • 1 decade ago

    YES, WHEN THOSE TAX CUTS END NEXT YEAR THAT MEANS TAXES WILL BE GOING UP FOR A LOT OF AMERICANS WHICH IS THE LAST THING YOU WANT DURING A RECESSION

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  • Bush had the WORST job creation record of any full-term president:

    http://blogs.wsj.com/economics/2009/01/09/bush-on-...

    Tax cuts for the rich don't work. Mink coats don't trickle down, they just shed.

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  • 1 decade ago

    According to the leftist rationale - they must favor the rich. No wait but they are Democrats - they help the working man....Favor the rich...help the poor.......Head explodes.

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  • 1 decade ago

    Can Obama vote present on this one,you know how he feels about making decisions

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  • 1 decade ago

    Because there are a few Democrats out there that actually understand economics.

    Though it kinda makes you wonder why they chose to be Democrats though.

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  • 1 decade ago

    Yes and they smell defeat in the wind.

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