Dem Sen. Harkin Criticizes His Party's Position To Fiscal Cliff Talks
By Ramsey Cox - 12/31/12 11:23 AM ET
Sen. Tom Harkin (D-Iowa) criticized an emerging fiscal cliff deal on Monday, arguing Democrats were giving up too much on tax rates for the rich.
Harkin said "no deal is better than a bad deal" in criticizing a deal that could extend tax rates for households with annual income under $450,000.
"This is one Democrat who doesnt agree with that at all, Harkin said.
He argued Democrats were making permanent generous tax rates for wealthier households even as in return they were only winning temporary extensions of programs that would help the poor and middle class, such as federal unemployment benefits. Harkin also argued against extending the current estate tax, which he views as too generous.
"There might be some extended debate," he told reporters after his floor comments. He added that it is "not true" that Democrats have as a group signed off on $450,000 threshold or estate tax status quo.
is this a new concession or has that been what we've been talking about all along?
Harkin makes a great point, the concessions we're giving are permanent, and the concessions they're getting are temporary. And WE are the ones with the leverage.
the definitive B.O. biography similar to Robert Caro's LBJ.
no cuts to social security or medicare ..... going over the cliff would have