Dec 19, 2013
Obama’s Tax Cave Is Worse Than Expected
Posted on Dec 7, 2010
Based on what The New York Times describes as President Obama’s “substantial concessions to Republicans,” Democrats in Congress have reason to fret. Not only did Obama agree to extend the Bush tax cuts for the wealthy, but he caved in to Republican demands to neuter the estate tax.
Republicans otherwise refused to extend unemployment benefits at a cost of $56 billion, because, you know, that would add to the deficit. Apparently a deficit hawk is someone who adds to the deficit—in this case $900 billion over two years.
Unemployment benefits will be extended as part of the compromise. —PZS
New and Improved Comments
In a media landscape littered with sellouts, we proudly remain one of the few truly independent news sites featuring strong, uncompromising voices.
But we need your help to continue our mission of finding and publishing a range of insightful opinion and analysis from a progressive point of view.
Your gift to Truthdig goes directly back into the website. It helps pay our writers, such as Chris Hedges, Sonali Kolhatkar and Nomi Prins. It keeps our servers running and helps us make upgrades to the site and mobile experience.
In addition to donating directly to Truthdig, you can support our efforts by shopping at our new Bazaar, which is filled with items we love and think you will too. If you're in the market for books, electronics, trek gear and yoga mats, check out our online stores. A portion of the purchase price will go directly to Truthdig.
Thank you for remembering Truthdig during this season of giving, and happy holidays!