Bush tax cut extensions for Middle Class fail in the Senate. Entire debate over 70 Billion?
Earlier this week the House passed a bill that would extend all Bush cuts for those making under 250k and the bill was passed knowingly full well that it would fail in the Senate - it did. Liberals refuse to extend cuts for the super rich on the count that deficits are crushing this nation. I agree the deficits and the total debt is America's first and foremost issue, but blaming the deficits on tax cuts is less than honest. There is certainly a correlation, but regardless of what political stripe you are - do you really believe deficits are rise from tax cuts or from spending? It is illogical to assume that a central authority can spend money that does not belong to them on someone else better than the actual owner of the money. Illogical. Still, instead of cutting spending this bill is about fairness and distribution. AP reports : ""Do we want to extend those tax breaks for millionaires and billionaires at a time of huge defic...