Conrad And Lieberman Come Out In Favor Of Allowing Wealthy To Keep Their Massive Bush Tax Cuts
OPS_admin | Jul 28, 2010 | Comments 0
Currently, the Bush tax cuts passed in 2001 and 2003 are set to expire at the end of this year. Progressives have long planned to allow the tax cuts for the richest Americans to expire, which would help ease the U.S. debt burden. Unfortunately, a number of Democratic senators have come out for extending the Bush tax cuts for the wealthiest Americans.
Last week, Sen. Kent Conrad (D-ND), the chairman of the Senate Budget Committee, called for a temporary extension of all the Bush tax cuts, including those for the wealthiest two percent of Americans, which the Obama administration would like to see expire. Conrad even suggested waiving pay-go rules (which apply to those cuts for the richest two percent) in order to extend the cuts without paying for them. Conrad quickly clarified that he wasn’t embracing the Republican approach, which is simply extending all of the tax cuts forever, calling that a “formula for the decline of the United States.” Today on CNBC, Conrad argued that now just isn’t the time to raise taxes on the wealthy:
We’ve got to be very careful with the timing of what we do. There’s no question in my mind that taxes have to go up on the wealthiest among us. The question is when. I don’t think this is the moment.
Watch it:
Full Story: Think Progress » Conrad And Lieberman Come Out In Favor Of Allowing Wealthy To Keep Their Massive Bush Tax Cuts.
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If we don't change our ways soon...
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: "The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choose to rebalance the use of resources to a more egalitarian pattern of consumption... or we can choose to do nothing and to drift into a downward spiral of economic and environmental ills leading to a more unequal and inhospitable future."This is the same warning that President Jimmy Carter gave Americans back in the 1970's - but it was ignored when Ronald Reagan came to power with a "more positive" message basically telling Americans we can do whatever we want. And then after 9/11 - Bush told us all we should go shopping and consume ever more.And now with corporations calling the shots in Washington - long-term sustainability of the planet takes a back seat to short-term profits. If we don't change our ways soon - and embrace clean, alternative energy and educate women around the plant - then we all could be headed for a rough century.-Thom(Is there any chance we will learn in time? Tell us here.) -
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