Tax Cuts for Wealthy’s Legacy: “It’s for the Children…”

Baucus Tasked to Work Out “Compromise” on Extending Tax Cuts for the Rich

By JC

Thanks to Big Swede Ingy, we have the theme for the upcoming battle over the Bush tax cuts. If you need a primer on this fight, you haven’t been paying attention, but I’ll start off this end-of-the-year debate with a nice little video that BoldProgressives.org just put out to put some pressure on President Obama to do the right thing.

We’re gearing up to have an old fashioned political donnybrook over the Bush tax cuts for the wealthy. We’ll get to see the right wing’s avarice in full force–as so eloquently snarked by Big Ingy–while they forget all about their opposition to deficit spending when it comes to protecting their wealth and increasing income disparity, and push their greedy self-interest in an all out class warfare battle.

And President Obama, who so adamantly campaigned to let the tax cuts for the rich expire, is on the cusp of caving in, his administration hurling itself to the right to accommodate the latest meme that only a Reagan Democrat in the White House can get the people’s business done.

Yesterday, President Obama tasked his underlings to “work out a compromise:”

“Faced with a tough decision to make on the expiring Bush tax cuts, Congress and the White House did Tuesday what they do best: They passed the buck.

With the resolution to a fight Washington has known was coming for 10 years still hanging in the balance, a small group of legislators will meet with top executive-branch officials, including Treasury Secretary Timothy Geithner and Office of Management and Budget Director Jacob Lew, sometime this week — perhaps as early as Wednesday — to hammer out a deal.

The lawmakers slated to attend include Senate Finance Chairman Max Baucus (D-Mont.)…”

Max Baucus??? President Obama didn’t learn anything by handing over his Health Insurance Reform to Baucus, so now he’s going to hand over this issue to another Reagan Democrat millionaire to find a compromise?

Mr. President, your future rests with how you proceed. If you break your campaign promise to let the tax cuts for the rich expire, particularly when your opponent has already signaled his surrender, you do not deserve to have the support of the progressive base that put you into office. If you sign a bill that extends those tax cuts, even temporarily, you have signaled the end of your presidency, as the disaffection of your progressive base will solidify against you, assuring either your defeat in ’12, or the rise of a third party candidate that either will succeed, or that could throw the election to the republican and Sarah Palin.

It almost seems as if you don’t care if the country has a republican president and Congress in 2 years. Maybe you don’t…

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  1. Ingemar Johansson

    At least a lot of kids in DC will never be taxpayers because they’re trapped in bad schools.

    “The leaders of D.C.’s school choice movement, Kevin P. Chavous (former D.C. Councilman) and Virginia Walden Ford (executive director of D.C. Parents for School Choice), today issued the following statement:

    “House and Senate Appropriators this week ignored the wishes of D.C.’s mayor, D.C.’s public schools chancellor, a majority of D.C.’s city council, and more than 70 percent of D.C. residents and have mandated the slow death of the D.C. Opportunity Scholarship Program. This successful school voucher program—for D.C.’s poorest families—has allowed more than 3,300 children to attend the best schools they have ever known.

    The decision to end the program, a decision buried in a thousand-page spending bill and announced right before the holidays, destroys the hopes and dreams of thousands of D.C. families. Parents and children have rallied countless times over the past year in support of reauthorization and in favor of strengthening the OSP.

    Yet, despite the clearly positive results and the proven success of this program, Sen. Dick Durbin, Rep. Jose Serrano, Del. Eleanor Holmes Norton, and Secretary Arne Duncan worked together to kill the OSP. Funding the program only for existing children shrinks the program each year, compromises the federal evaluation of the program, denies entry to the siblings of existing participants, and punishes those children waiting in line by sentencing them to failing and often unsafe schools.”

    Look! Another one.

    “Congress is rushing through its lame duck session to finally appropriate funds to pay out claims from the Pigford II settlement. The settlement is meant to clear up claims from black farmers who claim discrimination from USDA and also missed out on the first settlement.
    The legislation sets aside $1.5 billion to pay these claims. The legislation also makes cuts in other federal programs to “pay for” the new spending. Among the cuts are $500 million for nutrition programs for women, infants and children.”

  2. Ingemar Johansson

    Another one.

    WASHINGTON (AP) — Hours after President Barack Obama signed historic health care legislation, a potential problem emerged. Administration officials are now scrambling to fix a gap in highly touted benefits for children.
    Obama made better coverage for children a centerpiece of his health care remake, but it turns out the letter of the law provided a less-than-complete guarantee that kids with health problems would not be shut out of coverage.
    Under the new law, insurance companies still would be able to refuse new coverage to children because of a pre-existing medical problem, said Karen Lightfoot, spokeswoman for the House Energy and Commerce Committee, one of the main congressional panels that wrote the bill Obama signed into law Tuesday.

  3. Ingemar Johansson

    Need I go on?

    Dem governor cracks down on illegal children

    Russ Vaughn
    As everyone knows the only people in America who are so heartless as to report illegal immigrants to the immigration cops are evil conservative Republicans like those profiling fascists in Arizona, right?

    Right?

    Well not so fast there, Bubba.

    Left wing wunderkind, Bill Richardson, Democrat and waiting-for-indictment corruptocrat, lame-duck governor of New Mexico, has ordered the state department of children’s and family services to begin reporting illegal immigrant children to ICS.

    Oh the horror of it all! Reported by the NY Times, right? Well, no. Reported by the Washington Post and the LA Times, right? Well, er, ah, no. But the Associated press picked it up and broadcast it to the world, right? Uh, well, no. Sissy Chrissie Matthews is feeling a vibration all the way up to his prostate gland, right? Well, not so’s you’d notice, but then with that guy…

  4. JC

    What’s any of that have to do with the topic of this diary, Big Ingy? You’re spamming us here with a bunch of off-topic material.

    What, you get a big head cuz I used you in the lede?

    You guys are asking to borrow 700 billion from “the children.” All of them. Yours included.

    This topic is about giving tax breaks to the wealthy, which results in the impoverishment of the rest.

    • Ingemar Johansson

      Off topic?? You’re talking Palin and I’m off topic?

      Big picture JC.

      Your party has been the enemy of the children, especially minority children, ever since the Johnson Adm. Would we be in this mess if we had maintained the illegitimacy rate (minorities) of the 50’s and early 60’s?

      Your party has destroyed kids futures with bad schools, bad homes, fatherless families. By several generations.

      Lets look to the figures. The $700B pickup is a fallacy. Do you really think a person making a million dollars is going to willing hand over an extra 100 grand? A hundred grand pays for several accountants, maybe a couple hundred Mark T’s.

      And the wealthy children will benefit before last rites. Millionaires will pass on estates and incomes to their kids to avoid high taxes. Remember Maryland-they passed a Millionaires Tax and all the millionaires left or adjusted their income, leaving them with less than they had before the law passed.

      And finally, will the blame fall to the Reps, or will it be defectors in your party that doom your agenda.

      Dems (your version) kicking kids to the curb again.

  5. I was listening to Chris Hedges talking about his book, the Death of the Liberal Class, and he talked about how it is fairly certain that a country is on the brink of collapse when all politics is reduced to theater. And that is all this is – more theater. They are going to extend the tax cuts, and there has never been any question about that. You are seeing actors on a stage right now, nothing more.

    Something else from Hedges that ran a chill up my spine – he talked about the Obama decision that the executive branch has the right to kill an American citizen without warrant or trial, and without ever having to show evidence in a court of law. Hedges said that it is all rather benign when things are running smoothly, but if it comes to the point where we are festering in rebellion, use of that precedent will make things really ugly.

    And I think that’s what Hedges was saying – that Obama did that not for any particular reason now, but to set precedent for use at a later date.

  6. Name: Mark

    The result will be a three-year (because that will make it fall comfortably after the next election) extension of the cuts for everyone. If they weren’t so frelling dishonest they would just pass that now, as well as the continuing resolution so the government can keep wasting our money. Then they could all go home for the holidays.

  7. I believe that all the current tax rates will be extended, the only question is for how long.

    It’ll give Obama something to campaign on for the next election cycle –

    Here’s some material for his teleprompter;

    “I reached across the aisle, worked with Republicans, and made sure that nobody’s taxes went up last January – Yes We Can!”

  8. Chuck

    The filthy rich have faith in Max to protect their interests.
    I suspect they are helping Max craft language right now that will result in a net gain for the wealthy.
    Anybody want to bet that if I am worth over a hundred million today that I will be worse off after Max’s bill is passed and the details analyzed?

  9. Chuck

    JC and I have found common ground, there is hope.

  10. Obama is openly betraying his base. Clinton was more subtle. I wonder what that means.




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