The race-baiting backfired at the Democrats and president Obama. America felt betrayed by the first post-racial President when he started to play the race card when talking about the Arizona law or about his racially incomplete coalition of power.
So Democrats and President Obama decided to follow the example of Shirley Sherrod who overcame racism by turning to class warfare. The Bush tax-cuts entered the election debate front and center.
Every progressive talking head told you how the Bush tax cuts are for the rich and how the Bush tax cuts got us into unsustainable deficits. Really?
If Congress decides to keep the evil Bush tax cuts for the folks making less than quarter a million dollars a year they will be keeping the tax-cuts for the 95% of the households that currently receive them.
I guess the Bush tax-cuts were for the middle class after all.
Only 5% of the households that receive the Bush tax-cuts make more than $250K a year. The rest 95% are small business and middle class households. It is exactly for those who create jobs and today refuse to do so because of the uncertainty in the rules and regulations in Washington DC.
The unemployment continues to be the biggest problem in America today. While the stock market is blooming it appears those blooms are fruitless – no jobs are turning out of them. The main reason is the overall uncertainty in the minds of the consumers and the small business about the future government policies on the economy.
The Obama administration produces continuous dithering, empty speeches, and ideological nonsense instead of giving firm answers on the future tax environment.
The ObamaCare Law acts like a Transformer Robot – starts as an insurance reform – turns into a monster sucking tax revenues and throwing fire balls at health care providers who give too much care to the seniors.
The difference between the Transformer and the ObamaCare is that the first takes a minute to unveil its true self and the later needs 4 years of buzzing, sucking everything on its way and attacking while growing bureaucracies and commissions in size and strength.
Those middle class households that currently receive 95% of the Bush tax-cuts cannot plan for the future (the near future – the next year). Lawmakers do not want the Bush Tax cuts to expire in the current environment of high unemployment. It is possible President Obama will avoid addressing the issue until the 2010 elections are over. He can always say he is waiting for the newly appointed Debt Commission to give him suggestions.
The commission will produce a report after November. There is a possibility that the post-election “lame duck Congress” will vote on the Debt commission proposal that will include tax-hikes (possible carbon tax and VAT) and spending cuts (adjusting of the retirement age, restricting social benefits for the wealthy).
Meanwhile 10%-17% of the Americans continue hopelessly to file job résumés.