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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRobert Reich: We have to end the Bush tax cuts for the rich & Bill Clinton agrees.
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 Clintons 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 Obamas position that they should not be.
Heres the truth. America has a huge budget deficit hanging over our heads. If the rich dont 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.
Republicans say we shouldnt raise taxes on the rich when the economy is still in the dumps. This is a variation on their old discredited trickle-down economic theories. The fact is, the rich already spend as much as theyre going to spend. Raising their taxes a bit wont deter them from buying, and therefore wont hurt the economy.
http://robertreich.org/post/24565977542
Thank you, Mr. Reich. Imagine that. Republicans twisting the words of an important Democrat to make Obama look bad. Who could have guessed?
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Robert Reich: We have to end the Bush tax cuts for the rich & Bill Clinton agrees. (Original Post)
pampango
Jun 2012
OP
pipoman
(16,038 posts)1. Maybe
we would be in a better place if Reich hadn't sold labor out to big business as secretary of labor? Haven't heard him call for revisions to his US labor killing trade agreements.
pampango
(24,692 posts)2. Is this a "blast the messenger/agree with the message" or a blast of both. Also, Reich's tenure as
Labor Secretary saw one trade agreement approved and we already had a 'free trade' with one of the countries involved. So you might want to amend your 'agreements' to 'agreement'.
Also, he may not view them as 'job killing' since the countries with the strongest middle classes and unions - Germany, Sweden, Australia, Canada among many others - also have the most "job killing trade". Of course, what those countries don't have is Taft-Hartley, right-to-work states and, now, Citizens United combining to weaken unions and the working class.
ladjf
(17,320 posts)3. Reich and Krugman are trying to give us good advice. Is anyone in government doing anything about
it? nt