Wednesday, December 15, 2010

Rep. Blumenauer: Reject the tax compromise!

I thank you for your opposition to the tax compromise coming before the House. It is my belief that the proposal endangers Social Security by reducing its income and breaking the wall between it and the general fund; perpetuates unfair tax policy that will be even more difficult to repeal later; and stimulates the economy insufficiently to justify its trillion dollar price tag. In the long run it causes far more economic damage than it averts.

No doubt failure to pass this bill will endanger the weak economic recovery by abruptly cutting off extended unemployment benefits and by raising taxes on lower income earners. It is unfortunate that President Obama has set a trap whereby liberal Democrats will appear to be at fault for this, when in fact it is the fault of filibustering Republicans who refuse to give up staggeringly unfair tax cuts on the wealthiest Americans. But regardless of the political fallout, voting NO is still the right thing to do. Thank you again for standing up for fiscal sanity.

Rep. Walden: Reject the compromise!

As an Oregonian, I strongly urge you to join the rest of our state's delegation in rejecting the tax legislation before you. While I certainly don't understand how liberals could support a bill that raids Social Security and continues the enormous redistribution of wealth towards the wealthy, I find it even harder to understand how alleged fiscal conservatives could support a bill that adds nearly a trillion dollars to the deficit and stimulates the economy so inefficiently.

While failure to pass this bill may cause short-term harm to the economy, its passage would cause far greater harm in the long run. I implore you to vote NO.

Sens. Wyden and Merkley: Reject the compromise!

I strongly urge you to reject the compromise tax measure about to come before the Senate. It is lousy fiscal policy and lousy politics.

Failure to renew unemployment benefits will cause much suffering and could endanger the weak economic recovery. It is unfortunate that the President has crafted a compromise in which "liberal" Democrats may appear responsible for these results. But sometimes it is necessary to do the right thing anyway regardless of the consequences -- which would still be the responsibility of filibustering Republicans, not of Democrats standing up for fiscal sanity.

In the long run, future suffering will likely be far greater if this legislation does pass. President Bush's regressive tax cuts will now come up for renewal in a Presidential election year when it will be more difficult to finally reject them permanently. The proposed bill also adds a trillion dollars to the deficit without targeting the funds optimally, undermines Social Security's trust fund when it needs strengthening, and breaks down the wall between Social Security and the general fund. All of these factors will cause far greater long term damage to the economy than any immediate damage to the current recovery from failure to pass the bill.

I desperately hope that you vote NO.