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"It pays for desperately needed jobs" that won't be created because tax cuts create none.
Recall last December. Despite pledging opposition to extending tax cuts for households earning over $250,000, Obama capitulated.
On December 6, a White House press release said:
While "disagree(ing)" with Republicans, he argued that "without a willingness to give on both sides, there's no reason to believe (the current) stalemate won't continue well into next year....I am not willing to let that happen....it would be the wrong thing to do."
"As a result, we have arrived at a framework for a bipartisan agreement."
Everyone got a tax cut on income, capital gains, dividends, and the Bush enacted federal estate tax that lapsed at the start of 2010, including the super-rich (who deserve higher, not lower taxes).
As expected, Obama caved to Republicans and deep-pocketed donors who'd likely give less if they paid more.
"Shared sacrifice" for him is transferring maximum wealth from working Americans to Wall Street, other corporate favorites, and super-rich elites already with too much.
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