Obama's big tax and spend bill
...The increases on capital gains are something only an economic light weight like Obama and his followers would think is smart, since it will ultimately reduce revenues because people want be turning over their investments as much in order to avoid the tax. This Obama incredibly claims as "social justice." In other words it is pure idiocy on stilts.
The Senate-White House compromise is a Beltway classic: The biggest tax increase in 20 years in return for spending increases, and all spun for political purposes as a "tax cut for the middle class." But taxes on the middle class were only going up on January 1 because the politicians had set it up that way, manufacturing a fake crisis. The politicians now portray themselves as scrambling heroically to save the day by sparing the middle class while raising taxes on small business, investors and the affluent.
But the failure to cut spending is the reason this bill is so bad. It will increase the deficit at the same time it raises taxes. Who in the world thinks that is smart? Only the 20 percent of the country who admit to being liberals.
If House Republicans vote this down, I will back them. I will also back them if they go for more cuts to get the debt ceiling raised. Obama is not smart enough to do the right thing for the economy and he relied on a group of low information low functioning voters to get reelected. We should not humor them by pretending they know what they are doing.