Excerpt:Some Republican pundits have criticized President Obama, saying his budget plan along with his plan to allow the tax cut for wealthy American to expire is a "war on the rich." They like to say that raising taxes for the wealthy is punishing the wealthy for doing well. In truth, the wealthy get wealthier in a robust economy and giving them tax breaks doesn't create a robust economy.
President Bush made the tax cuts for the wealthiest Americans temporary. Had the tax cuts worked to stimulate the economy, it's likely that the tax cuts would have been made permanent but the current economic meltdown proves that cutting taxes for the wealthy doesn't create jobs and doesn't stimulate the economy. Still, those in the GOP who have no alternative plan to stimulate the economy but choose instead to criticize President Obama's Economic Recovery Act have no answer and fall back on the conservative mantra, "cut taxes."
As the GOP criticizes the Obama administration for raising taxes for the wealthiest Americans, what they don't seem to understand is that the vast majority of Americans aren't wealthy and actually believe that the richest Americans should pay more in taxes. It is simply more evidence that the Republican party is out of touch with average Americans. It seems from their recent actions that they are intent on listening to lobbyists and wealthy donors.
To read the entire article and view video, go here.*Note: I had to upload the video to Youtube myself and apologize for the Tivo bar in the middle of the video.
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