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Originally Posted by flstf
I suspect the administration thought that if they had not given tax cuts to the wealthy then the whole tax bill would fail and everyone's taxes would go up. Then all we would hear durng the next election cycle is that President Obama is responsible for raising the middle classes' taxes.
I don't think there are enough votes to get it passed with the $250K limit and next year with the new Republicans coming in it would be impossible.
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It is a perfect storm, and this issue was a no win for Obama and the Democrats whatever way they went. If they raised taxes, they may have gained some support from deficit hawks, but the unemployment and economy might be stagnate. The GOP would run on lower taxes = trickle down, with big business ready to help them for a few years achieve that. The long term unemployed would be hurting and the media would pick up on their story over and over.
Now if in two years the economy is better Baraka_Guru's prediction will be right.
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"The Republicans will take most of the credit for this recovery and will suggest that the continued tax cuts were responsible for bolstering growth and saving America from Obama's "reckless spending" and that making the tax cuts permanent and repealing the health care reform is the only true way to allow America to thrive after so many years of turmoil. "
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Vote for the dem's to raise taxes, vote for us to lower them for the wealthy, which you might be one day...