President Barack Obama just announced his latest surrender to the right-wing. This one involves the extension of tax cuts for the wealthy as well as a reduction in the estate tax. At the rate he is going, is he
perhaps angling for the Republican nomination in 2012?
The essentials on the latest cave-in are as follows:
extend Bush-era tax cuts for two years and unemployment benefits for 13 months while also setting the estate tax at 35% for two years on inheritances worth more than $5 million, a senior Democratic source told CNN.
The deal also includes a temporary 2 percentage-point reduction in the payroll tax to replace Obama's "making work pay" tax credit from the 2009 economic stimulus package for lower-income Americans, the senior Democratic source said.
http://www.cnn.com/2010/POLITICS/12/06/obama.taxes.debates/index.html?hpt=C1
The reduction of the estate tax from a 55% rate to a 35% rate is perhaps the most surprising at all. This is
the most demoralizing decision yet by this president. It is another kick in the face to his base and those who launched his presidential ascendance. Do any of you ever remember George W. Bush getting up on television and saying that he's not crazy about this proposal but let's do it?
It is now up to Nancy Pelosi to make one last stand for principle and say NO WAY! This so-called compromise
may pass, but make the Republicans pass it along with lame duck Blue Dogs. Can you House Progressives finally stand up to Obama?
Finally, if the issue was the extension of unemployment benefits and middle class cuts, then why didn't he go to an oval office address and plead for the passage of just these two particulars? He has never gone to the mat on anything. Reagan went directly to the public in intimate nationally televised speeches spelling things out in a very clear manner and urging citizens to contact their reps. Obama makes big arena speeches with snippets on the news.
It's time folks to start thinking about a challenger in 2012.