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SpinDistribute.com Article Directory

The following article was published in our article directory on December 8, 2010.
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Obama has Agreed to Give to the Rich Tax Cuts

Article Category: Business

Author Name: xia zihui

Obama said he and the Republican Party has reached an agreement for a period of 2 years of tax cuts in exchange for Republican support of his "unemployment relief bill" to extend 13 months.

Day, Obama and the Democratic Party met at the White House level, after which he announced a long before the media and Republicans reached a "framework" agreement. In the agreement, Obama gave the Democratic Party has always insisted on the annual income of $ 200,000 (the total family income of 25 million U.S. dollars), over ninety percent of the population in the U.S. middle class tax cuts permanent, but agreed Republican Members, including the rich against tax cuts, including plans for all Americans.

In order to stimulate the U.S. economy, former U.S. President George W. Bush has developed a massive tax cut plan, which will expire Dec. 31 this year, the United States government must be established before the new tax relief plan of tax cuts expire program. 2 December, the U.S. House of Representatives voted the proposal, agreed to extend the tax cuts on the middle class, but no tax cuts for the rich.

But the proposal failed in the Senate by 4. It is because of tax cuts Republicans dissatisfied with the Democrats, the Republicans rejected the talent program at the crucial moment, so Obama had to make a "compromise", the Bush administration's tax cuts intact developing 2-year extension .

6 Obama's position, a Republican by the media as a "victory." Some liberals within the Democratic Party has clearly expressed disappointment with Obama. Senate Majority (Democratic) Leader Harry Reid and even said it was Obama Madui Fu's "surrender." Media analysts say the Democratic Party was once the "defection", Obama can only help Republicans in Congress to ensure clearance of the agreement.

Forced to compromise with the Republican Party in exchange for that support

Although some Members of the Democratic Party dissatisfaction Obama, but Obama says in frustration that, even if do not like to have to do so, because the Republicans to compromise on U.S. businesses and the economy is critical.

Democrat Barack Obama said: "I have no doubt, we see that this compromise proposal, he will not like it. In fact, there are also things that I do not like that on the richest Americans continue to cut taxes. But tax cuts can only be implemented for 2 years ... ... when the American people expect us to solve the problem, we can not continue playing politics with the wrist. "

Obama also said, had agreed to extend the original 2-year tax cut plan, and Republicans in order to achieve a "swap" agreement, which Republicans in Congress to support his proposal would "unemployment relief bill" to extend 13 months. So-called tax cuts, can not be regarded as "unilateral compromise."

It is reported that the resistance of the Republican Party, U.S. House of Representatives rejected a 18 month extension of unemployment benefits, guarantee proposal. This means that starting from December, 80 million Americans unemployed will lose this benefit.

The White House report released earlier, if the "unemployment relief bill" not taken action before the expiration of the Congress, by the end of 200 million Americans will lose their unemployment benefits next year, about 700 million people lost their relief.

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