The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Election Rhetoric:
Taxing the Wealthy

Feb 6, 2012

In his State of the Union address, President Obama denounced tax cuts that allow wealthy people to pay taxes at a much lower rate. As an example, he cited the extension of the Bush tax cuts, saying, “Right now, we’re poised to spend nearly $1 trillion more on what was supposed to be a temporary tax break for the wealthiest 2% of Americans.”

The extension of these tax breaks were passed in December 2010 by the Democrats working with the Republicans in Congress. President Obama himself signed them into law!

Obama and the Democrats had denounced these same tax cuts for the wealthy, when they were running for office in 2008.

What do YOU believe – pre-election promises or post-election actions?