Speaker Nancy Pelosi will not give ground on her opposition to extending the Bush tax cuts on the wealthiest Americans, even as the White House and other Democrats have signaled that it might be time to compromise.
“It’s too costly. It’s $700 billion,” Pelosi told NPR this morning. “One year would be around $70 billion. That’s a lot of money to give a tax cut at the high end. And I remind you that those tax cuts have been in effect for a very long time, they did not create jobs.”
Exactly. The prosperity these tax cuts promised never happened. Bush was allowed to pass these cuts on the coattails of Clinton. What Bush’s tax cuts have left behind is massive debt and income disparity. Both will be carried over if extended.
We know how this book ends. Why live through it again. Learn from your mistakes.
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