McConnell: Richest Americans ‘Hit Hardest’ by Recession (Video)
September 14, 2010
(ChattahBox Political News)—Senator Mitch McConnell (R-KY) knows which side his bread is buttered on. Yesterday the Minority Leader delivered an impassioned speech on the senate floor, supporting tax cuts for the richest Americans. He reminded his colleagues that our country has been hit hard from a deep recession. And who in America has been suffering the most? The rich. What about the poor and middle class who have lost their homes, lost their jobs and are now making weekly trips to food banks to feed their families? You know, the same people who Republicans have attacked as lazy hobos. No, sorry. According to McConnell, people making over $250,000 a year are “the people who’ve been hit hardest by this recession.”
McConnell made his plea to extend tax cuts for the wealthiest top 2 percent of Americans, as he introduced a bill extending the soon to expire, Bush tax cuts across the board. Extending tax cuts for the rich will not stimulate the economy and will add $700 billion to the deficit. But the GOP is planning to hold a tax cut for the middle class hostage, to ensure the rich also pay lower taxes.
McConnell delivered his remarks in the wake of Rep. John Boehner’s (R-OH) statements over the weekend that he would vote for a middle class tax cut that excluded the rich, if that’s all the Republicans could get. McConnell quickly came out with a statement throwing cold water on Boehner’s olive branch to Democrats, declaring he would filibuster any attempts by senate Democrats to extend tax cuts only for the middle class. Boehner’s House colleagues, including Rep. Eric Cantor (R-VA), also spoke out against Boehner’s support of middle class tax cuts.
McConnell doesn’t have the votes to get his tax cut legislation passed, but he is setting the stage for a showdown with Democrats, who also don’t have the 60 votes needed to overcome a Republican filibuster.
“We can’t let the people who’ve been hit hardest by this recession and who we need to create the jobs that will get us out of it foot the bill for the Democrats’ two-year adventure in expanded government,” McConnell said.
Republicans have been defending a tax cut extension for the rich, saying a tax increase would hurt small businesses. But Boehner acknowledged on” Face the Nation” on Sunday, that not extending the Bush tax cuts to the rich would only affect about 3 percent of small business owners. And the majority of those small businesses are doctors, lawyers, accountants and so on—not the type of businesses that create job growth.
This game of liar’s poker will play out through the November elections.