Democrats have laid down the gauntlet, claiming they are willing to drive the American economy off the “fiscal cliff” if Republicans don’t agree to their demands to raise taxes on individuals and businesses making over $250,000 annually.
Democrats are making increasingly explicit threats about their willingness to let nearly $600 billion worth of tax hikes and spending cuts take effect in January unless Republicans drop their opposition to higher taxes for the nation’s wealthiest households.
Emboldened by signs that GOP resistance to new taxes may be weakening, senior Democrats say they are prepared to weather a fiscal event that could plunge the nation back into recession if the new year arrives without an acceptable compromise.
In a speech Monday, Sen. Patty Murray (Wash.), the Senate’s No. 4 Democrat and the leader of the caucus’s campaign arm, plans to make the clearest case yet for going over what some have called the “fiscal cliff.”
In other words, they are threatening to allow the economy to plunge into another recession if they can’t demand small businesses and job creators pay for their reckless entitlement spending during the Obama years.
Four straight years with a trillion dollar deficit, with Obama and the Democrats adding nearly $6 trillion to the national debt in the last three years, and now they are threatening to drive you over a cliff if they can’t collect more in taxes.
This from the PJ Tatler:
This is big, and it is outrageous: The fundamental difference between the two major parties is exposed for all to see. The Democrats want to punish job creators with higher taxes and are willing to hold middle class tax rates hostage to get what they want. The Democrats are lurching hard left on a pretty fundamental thing in an election year: the state of the economy. This is Jim Jones, drink-the-Koolaid stuff the Democrats are doing. They are threatening to hurt millions of Americans if the GOP doesn’t agree to raise taxes, taxes which may help bring the weak economy down if they are enacted. But if the GOP agrees to raise them it disappoints and dispirits its own base, and will share the blame for the consequences.
Bear in mind, this threat comes on the heels of one of the biggest tax hikes in American history – the Obamacare Tax.
With businesses having to deal with the cost of the Obama Tax, and now having to worry about the Bush Tax cuts expiring, a double dip recession seems likely, while unemployment will most certainly remain stagnant or grow even higher.
Obama of course, was the man who said, “you don’t raise taxes on anyone during a recession”.
Now they’re going to demand taxes be raised and intentionally attempt to wreck the economy?
Politics. Politics first, at the expense of sound fiscal policy.
Are you ready for the plunge?