Amy Dean, writing at In These Times, challenges conventional wisdom about tax cuts and their ability to create jobs. She calls handouts to the wealthy “blind faith” in their relation to the labor economy. Tax cuts are not investment in the economy. They are a give away with most of the reward going to those who have the most. I strongly recommend Dean’s article.
President Obama and several allegedly liberal senators are saying they are being forced to compromise on tax cuts for the top 2% and the estate tax. The president even compared the Republicans to hostage takers. We tend to forget that Obama's first stimulus included 40% in tax cuts. That strategy hasn’t moved the unemployment problem. We need leadership. We’re getting politics.