Inadvertent Insights from the Wall Street Journal

Inadvertent Insights from the Wall Street Journal

The Wall Street Journal reports: “The House approved legislation Thursday that would extend current tax rates on income up to $250,000 while allowing taxes on higher earnings to rise, a largely symbolic vote that pointed to divisions among Democrats in the waning days of their dominance on Capitol Hill. The bill passed 234-188, but 20 Democrats opposed it — mostly lawmakers who lost on Election Day and who agree with Republicans that it is bad policy to let any tax rates rise amid a fragile economy.”

Hook, Janet 2010. “Tax-Cut Vote Shows Democratic Divide: House Passes Extension Excluding Higher Incomes, a Largely Symbolic Effort Reflecting Unhappiness With White House.” Wall Street Journal (3 December): p. A 5
http://online.wsj.com/article/SB10001424052748703377504575650901731419966.html?mod=ITP_pageone_1

Are we to believe that giving tax breaks to the super-rich will do wonders for the economy or that the people are clamoring to give aid to those worthies.

What about this Democratic divide? That only a few right-wing Democrats remain in the House; that the remaining Democrats generally oppose Obama and yet get elected. Their vote was largely symbolic because most of them know that Obama will cave and they can get credit for supporting the little guys who make less than a quarter million dollars a year. Then they can go about cutting benefits for the real little guys.

Question of the day: What is the most courageous decision that any politician today has been willing to take?

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