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How the Tax Cut Extension Legislation Hurts You, Me, the Nation

Updated on December 12, 2010

Bad clip!

Has the President turned against us?

The Bush tax cuts did not stimulate one single job during the past 10 years. How does Pres. Obama think that extending them will create jobs in the next two years? It makes no sense.

The unemployment benefits that this new extension is supposed to create will not go to those who have been out of work for 99 weeks or more.

The rich get a further tax break with the lowering of the estate tax.

In order to pay for these further tax extensions, we will have to borrow from China and other creditor nations.

The tax extensions will increase the deficit by nearly $900 billion. And in the coming two years, the Republicans will use that increase as an excuse to seek cutting Social Security and Medicare benefits, perhaps even trying to privatize the V.A.

To add insult to injury, those making less than $20,000 a year will actually see their taxes go UP a bit. Didn't know that, did you?

The President has not made a good deal. In fact, the only ones who benefit from this deal are the wealthy and their Republican supporters in Congress. 

To make things worse, we'll have to go through all of this again at the end of 2012. The Republicans are already making plans to get these tax cut extensions made permanent.

There’s no way around it. The Republicans have once again gotten their way and the President has simply rolled over without a fight--just as he did with health care reform, Guantanamo, Don't Ask Don't Tell, and the big bailouts. Oh, well...

No wonder many of the Democrats are upset. And Obama had the nerve to reprimand them in public, even though he never gave nearly that amount of criticism to his opponents on the Right.

Mr. President, you are doing your base a great disservice. Don’t be surprised if you fail to find us on your side come 2012.

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