Rep. Richard Neal (D-MA 02) indicates he might side with Republicans on extending 'Bush tax cuts' in exchange for a longterm defict plan

Given his support of Wall Street deregulation, restricting a woman’s right to choose, and tepid support of universal health care, it is well known Rep. Richard Neal (D-MA, 02) is a reluctant Democrat. Still, recent comments he made to The Hill newspaper about possibly supporting an extension of all the Bush tax cuts for another year, are as shocking as they are bad economic policy.

‘Rep. Richard Neal (Mass), the top Democrat on a House Ways and Means Subcommittee that deals with taxes, said he would listen to a proposal for some “breathing room” if he thought a substantial deficit deal could be achieved.’

Instead of worrying about 'breathing room’ for a deficit reduction deal that as last year's pursuit of a ‘grand bargain’ showed congressional Republicans are not interested in forging, Neal should remember, the Bush tax cuts laid the groundwork for the trillions in debt we are now facing and exacerbate the problem of wealth inequality.

As usual, Neal defended his comments with a spokesperson, saying his record ‘speaks for itself’, but the people he is vying to represent in the newly drawn First Massachusetts Congressional District as well as those he currently represents, need someone to speak for them.

 Andrea Nuciforo, the Berkshire Middle District Register of Deeds and former State Senator from Berkshire County, who is mounting a primary challenge against Neal, is calling on him to vote against extending the Bush tax cuts on the top 2%, instead of bending over backwards to please the tea party types in congress, whether they are Republicans or Democrats. 

 

 

 

Tags: Bush tax cuts, Richard Neal, Massachusetts First Congressional District, Andrea Nuciforo for Congress, budget deficit (all tags)

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Greenspan: Bush tax cuts cause 'a larger and larger (budget deficit) effect'

June 30, 2012

On Friday, while lamenting the lack of discussion among Washington policy makers about the so-called ‘fiscal cliff’, former Federal Reserve Bank Chairman Alan Greenspan told CNBC that:

“The bush tax cuts, for example, had a ten year end to them. why, because in the post ten year period, if you allowed them to stay, they would have a  larger and larger (budget deficit) effect, so they cut them off."

The Republicans have known since day one that the Bush tax cuts cause ever larger budget deficits.

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Incidental to gathering the above quote I found that CNBC misrepresented the quote in their transcribe at: http://video.cnbc.com/gallery/?video=3000098363

This is the actual quote from the video: (6:45) "the bush tax cuts, for example, had a ten year end to them. why, because in the post ten year period, if you allowed them to stay, they would have a  larger and larger (budget deficit) effect, so they cut them off."

But CNBC’s transcript flips the meaning: “the bush tax cuts, for example, had a ten year end to them. why, because in the post ten year paerd, if you allowed them to stay, they would have a larger and larger effects, so they cut them off.”

by aahpat 2012-06-30 11:50AM | 0 recs

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