Republicans Wimp Out, Fail to Oppose Democrat Plan to Tax Wealth ProducersSubmitted by emalvini on Mon, 11/19/2012 - 13:09
Republicans Wimp Out, Fail to Oppose Democrat Plan to Tax Wealth Producers
November 19, 2012
Congress is currently in discussions with the Obama administration about enacting a new round of taxes to pay for profligate government spending. The increase will fall on the “rich,” defined by the government as anybody who earns more than $250,000 a year.
House Speaker John Boehner’s “top earners” category does not include the financial elite. Photo: Gage Skidmore.
Democrats are all for taxing the so-called rich, while Republicans favor going after entitlements in order to confront the so-called “fiscal cliff.” Republicans, however, have agreed to not “explicitly reject the suggestion they accept a Senate-passed bill that would allow tax rates to rise on top earners,” in other words the last remaining producers of wealth in the United States