Extend The Bush Tax Cuts --Wait Just One Minute!

We can't have tax cuts for those "Rich" people who make more than $250,000 a year. Bush is bad and tax cuts are bad! This has remained the tag line for vast majority of democrats since before Obama was elected.

Now there are a handful of democrats stating publicly that they are in favor of extending the Bush tax cuts. Interesting how things come out in the end.

Two more Senate Democrats called for extending tax cuts for all earners—including those with the highest incomes—in what appears to be a breakdown of the party's consensus on the how to handle the expiration of Bush-era tax cuts.

Sen. Kent Conrad (D., N.D.) said in an interview Wednesday that Congress shouldn't allow taxes on the wealthy to rise until the economy is on a sounder footing.

Hold on just a minute here! Does this mean that "trickle-down" economics DOES work? I thought that by allowing top income earners to keep more of there money had no positive impact on the economy. At least that's what we were told by Obama.

Sen. Ben Nelson (D., Neb.) said through a spokesman that he also supported extending all the expiring tax cuts for now, adding that he wanted to offset the impact on federal deficits as much as possible.

They are the second and third Senate Democrats to come out publicly in recent days in favor of extending all the tax breaks for the time being. Sen. Evan Bayh (D., Ind.) made similar comments last week.

"As a general rule, you don't want to be cutting spending or raising taxes in the midst of a downturn," Mr. Conrad said. "We know that very soon we've got to pivot and focus on the deficit. But it probably is too soon to cut spending or raise taxes."

The comments from the senators represent a departure from what appeared to be an emerging unified Democratic stance on the Bush tax cuts, which held that those for the wealthiest Americans should be allowed to expire.

I thought we were recovering? We were just a week ago, right, what happened?

This is yet another example of how the government is attempting to spin the economic picture to "appear" as if things are getting better. The administration wants to avoid references to the "Misery Index" from the Carter years. You can only hide the truth for so long. The cat's out of the bag, we are not on the path to recovery and this episode shows that the administration is not making decisions conducive to recovery.

If Trickle-Down economics doesn't work, why are some democrats worried about a tax increase for those who make more than $250,000?

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