Tax Deal Not a Stimulus PackageCan you guess who the above statement is attributed to?
...insisted that the tax-cut deal between Republicans and the White House isn't a second stimulus and that the agreement would promote growth despite adding to the deficit.
Hint: It belongs to a congressman who also insists tax cuts grows federal revenue. Click here to find out.
Once you understand that stimulus applies only to the working poor and middle-class, it'll be easier to realize that the growth he is referring to is for the wealth of rich people. But ...if tax cuts counter-intuitively grow federal revenue, how could the deal add to the deficit?
Hypocrisy squared to the power of ten.
In the end, the House vote wasn't close, with 139 Democrats joining 138 Republicans to approve the bill. The Senate passed the bill comfortably as well Wednesday, 81 to 19. The bill represented a major shift for Obama, as he abandoned an oft-repeated campaign promise that he would end the policy of cutting taxes for the wealthy.