Democrats Twice Defeat Fair Taxes on Rich
Caving in on tax breaks for the rich when Obama had almost a 40 vote lead in the HOR and 59 senators guaranteed the republicans victory in 2012 as they tie increases in taxes to the rich with increases in social security taxes for the poor. I do not believe anybody – let alone a Harvard lawyer – would not know this. The Bush tax cuts for the rich cost us 800 billion dollars over ten years. Contrast that to the much higher tax rates of Eisenhower, Nixon, and Clinton when we shared our wealth and all prospered as a country.
Defeating the Buffet tax for millionaires cost us 50 billion dollars over 10 years. Obama and the democrats failed to even get the Buffet Tax passed. They did not even try. The democrats are completely responsible for both. They actively saved the Bush tax cuts which would have automatically expired and did not even try for the Buffet Tax which was recently defeated by the democratic senate. They are betting they can blame the republicans and people will be too stupid to know the difference. They may be right. Contrast the “I can’t do anything because of the evil republicans” with Bush who did whatever he wanted whenever he wanted regardless of the makeup of congress.
For more documentation see
Economic Graphs – http://newprogs.org/blog/2012/03/02/economic-graphs