Obama: Bush Tax Cuts For Wealthy Will Not Be Extended, Period

[JDPriestly]

41. Well, the Republicans want austerity.

This spreads the austerity. The Republicans only wanted to impose it on the old, the very young, the poor, the lower middle class.

This spreads it across the board. If they don't want to do away with all the tax cuts, let the Republicans negotiate some alternative to protect middle class tax cuts.

Of course they won't. They don't care about the middle class or the poor.

All the tax cuts have to go, including those on capital gains. They should revert back to what they were before the Bush tax cuts.

If we want to make taxation fairer, we can tweak the tax code after that.

But right now, the rich are walking away with too large a share of the wealth of the nation, and the Bush tax cuts are part of the reason.