Robert Reich: We Have To Raise Taxes On The Rich & End The Bush Tax Cuts - & - Bill Clinton Agrees.
Robert Reich
Why We Have to Raise Taxes on the Rich and End the Bush Tax Cuts for the Wealthy (and Bill Clinton Agrees)
I was on CNBC Tuesday when Bill Clinton gave an interview saying that, given the deadlock between Republicans and Democrats on Capitol Hill, it seemed likely the Bush tax cuts would be extended in 2013 along with all spending. When asked to comment, I said Clinton was probably correct.
But, of course, Republicans have twisted Clinton's words into a pretzel. They say the former president came out in favor of extending the Bush tax cuts to the wealthy -- in sharp contrast to President Obama's position that they should not be.
It's typical election-year politics, except for the fact that the Republican megaphone is larger this time around due to all the Super PAC and secret "social welfare" organization bribes, er, donations that are filling Republican coffers.
Here's the truth. America has a huge budget deficit hanging over our heads. If the rich don't pay their fair share, the rest of us have to pay higher taxes -- or do without vital public services like Medicare, Medicaid, Pell grants, food stamps, child nutrition, federal aid to education, and more.
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http://www.huffingtonpost.com/robert-reich/obama-bush-tax-cuts_b_1576028.html