Monday, December 6, 2010

Obama Was Right to Extend the Tax Cuts to Everyone, Given November 2

I support Obama's decision to compromise with the Repubicans, and continue the Bush tax cuts for everyone - including millionaires - for the next two years.  It's best course of action now, given the unfortunate results of the election on November 2.

Those results will put the Republicans in control of the House, and more Senators as well, in 2011-2012.  For those disappointed with Obama's compromise, they should look at their and our failure to convince Americans to vote for more progressives in the past election.   Why should the Republicans accept the Democratic approach of making the rich pay their just freight, when the populace has given the Republicans the whip hand?

Progressives who wanted to play hard ball, hang tough, and dare the Republicans to be responsible for tax increases for everyone, and no unemployment insurance for Americans whose benefits have run out, are likely doing fine financially, and have no need of unemployment insurance.  I can't image anyone else - Democrat or Republican - gambling with these issues at stake.

I've long said that I'd like to see a society with no taxes for anyone earning under a million dollars, and millionaires and above paying much more.   Whether this is closer or not to happening in light of today's compromise is not clear.   But what does seem undeniable is that this is the best way to go, given the circumstances.
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