A highly inappropriate term for the extension of the
Bush Tax Cuts!
In December 2010 the
tax cuts were set to expire. President Obama and the Congressional Democrats wanted to let the
tax cuts for the richest 2% expire and extend the
tax cuts for the other
98%. Also at this time, the federal unemployment payments were set to end. Congressional Republicans didnot want to extend the unemployment benefits because it was "too costly," so they held the long-term unemployed hostage until Democrats extended the
tax cuts for the richest 2%!!!
Obviously, the Democrats went along for the sake of the unemployed and to keep the
tax cuts for those that actualy needed them. Republicans showed their true colors (caring only for the rich) while the Democrats were again the ones showing fiscal resposibility!