Many tax cuts for wealthy also kept

San José, CA – Early New Year’s Day, the U.S. Senate voted 89-8 to pass a compromise bill to put off the so-called ‘fiscal cliff.’ The bill now goes to the House of Representatives, where Republicans are likely to try to get even more tax breaks for the rich.

Right wing hypes fear of a ‘fiscal cliff’ to extend tax cuts for the rich

The federal government is on course for large spending cuts and tax increases starting January of 2013. This comes from a combination of three things: the end of some of the Obama administration stimulus that began in 2009; the end of large tax cuts, especially for the wealthy, done under the Bush administration; and automatic spending cuts designed to reduce the federal budget deficit. While some of the tax increases would not fully take effect until April 2014, and others could be reversed, the right wing is using fears of a ‘fiscal cliff’ to try to extend tax cuts for the rich and block planned cutbacks in military spending.

Republicans Respond with Tax Cuts for Rich

San Jose, CA – When the price of gasoline spiked above $3 per gallon, Republicans responded by proposing a $100 rebate. This was widely condemned as a public relations stunt at best and an insult at worst as working families are weighed down by high gas prices, rising interest rates and cuts in pensions and health care. But you don’t hear complaints about the Republicans coming from the rich.