President Barack Obama (image left) has bent over so far backward in appeasing the right wing’s dream of attaining huge tax cuts for the wealthy that America -- if not the president -- will pay a dreadful price.
Republicans may have pulled a knife on Democrats in the so-called “tax deal” or “compromise” on legislation giving millionaires and billionaires huge tax cuts, but Democrats will be committing hari-kiri if we succumb.
Putting America an additional $858 billion in the hole, of course, is the Republicans’ idea, not the president’s, but it is the president who will take the blame for the higher deficit in the short run. Most Democrats, of course, hoped to let the tax cuts to expire on Jan. 1 as President George W. Bush and Republicans in Congress had agreed.
President Obama’s “compromise” extends those cuts another two years (when Republicans would no doubt try to make them permanent.) Democrats have been urged to approve the legislation on grounds it will create jobs and be good for the economy. The legislation offers tax relief for all taxpayers, reduces Social Security taxes in 2011 and extends jobless benefits for many longterm unemployed.
In time, despite the U.S. Senate’s 83 to 15 trial vote to approve the controversial tax bill, Republicans will feel the verdict of history. In the meantime they revel in their temporary achievement. At the time, many Democrats feigned content with the so-called compromise. Most believe the “compromise” to be neither wise nor fair, even, I’m sure, by many who voted it. Senate leader Harry Reid (image right) is among those who fell victim to the Republicans’ extortion and urged its approval.
President Obama tried to bolster support by calling upon former President Bill Clinton to fortify his effort to have the tax cuts approved by congress. Many Democrats, however, believe Obama caved in unnecessarily to the Republicans. He could have fought harder and longer.
Extension of the huge tax cuts for the wealthy is neither the best way to create jobs in America (they did nothing to create jobs in the 8 years of the Bush Administration) nor is the addition of more than $800 billion to the deficit necessary or wise. It is clear to Democrats that Republicans plan to use the deficit as an excuse to cut social benefits for the middle class including Social Security, Medicare and health care.
The president has stated that it’s the “nature of compromise, sacrificing something that each of us cares about.” While his statement is true there is a significant difference between “compromise” and “extortion.” Republicans have been saying – and voting – “no” ever since his election in 2008. Their insistence on giving exorbitant tax cuts to the millionaires and billionaires while the poor and middle class suffer in an era of declining wages and unemployment, is definitely not “compromise.” Republicans' refusal to approve any legislation unless and until the wealthy are granted outrageous tax cuts amounts to nothing less than legal extortion.
Unless President Obama reverses course, begins acting like a Democrat, and starts using his veto pen against the coming Republican onslaught against the middle class, he will lose one important vote in New York (mine.) I may be a lifelong Democrat, but I will not take part in the destruction of the American middle class.
