27th November 2012
There is an uncanny irony that has emerged from the bowels of the tax fight – one that is lost in all the banal details of the pitched battle. Democrats have fallen in love with the Bush tax cuts, which they fought so vociferously to block in 2001 and 2003.
While the Democrats are demanding that we raise taxes on the rich, they are stridently demanding that we extend the Bush tax cuts for the rest of American taxpayers (or non-taxpayers). The irony is that Democrats spent several years during the Bush years protesting how the Bush tax cuts were nothing but handouts for the rich. Now, they are correctly asserting that if we don’t extend the Bush tax cuts, low and middle income earners will be severely hit. Woops!