PRESIDENT OBAMA’S tax deal with the Republicans is a betrayal of the middle class. The estate tax proposal is nothing but the class warfare that I would expect from the most extreme right. However, the worst is yet to come.
A favorite GOP tactic is to run up the deficit, then cry, “Oh no! We have a big deficit!’’ and call for cutting all government spending that helps average Americans. With the giant spike in the deficit that would be created by Obama’s gifts to the elite, we will be hearing this sales pitch louder than ever.
The worst idea in Obama’s plan is the payroll tax reduction. Cutting Social Security’s dedicated revenue helps the Republicans in their never-ending refrain that Social Security is “unsustainable.’’ When the time comes for the so-called temporary tax holiday to end, the farce with the so-called temporary Bush-era tax cuts will repeat. The GOP will bombard the public with ads saying, “The Democrats want to raise your payroll tax.’’ There’s a good chance the tax will never revert, and that will be the beginning of the end of Social Security.
All Democratic presidents have defended this system, until now. Our middle-class society is on the brink.