Why extending the Bush Tax Cuts for Millionaires is such a stupid idea

If Obama extends them for another year, or two - they will be set to expire right in the middle of the Presidential Campaign season.

Citizens United groups will be orgasmic running ads that say "Obama will raise your taxes".... and they'd be right! Unless of course he compromises again to avoid this.


Politically, the smart thing to do in my opinion is end them NOW, not in the middle of a heated campaign season. If we end them now, it will be much less of a talking point by the campaign. Of Course the repugs will bring it up every chance they get BUT they will not be able to use it as a scare tactic - If you vote for Obama, he will raise your taxes.

The sunset clause was put in their for a reason, and this is the perfect time politically to let them expire.

End of story.

They do not create any new jobs. They explode the deficit. They drive wages down. Supply side economics is designed to fail.

Give the middle class family $1,000 and he immediately puts it back in the economy.

Give the millionaire $100,000 and he puts it directly into his off-shore bank account.

That isn't stimulating anything but the interest on the millionaire's account.

as well to extend them. If Obama extends them, it's only going to bite him in the behind while he is trying to run for another term.