While I think that more money for lower income Americans through an extension of the current tax rates would be helpful to drive demand, I think that the GOP needs a "waterloo" of their own, to use Senator DeMint's words. For that reason I hope that Democrats DO NOT cave in on tax cuts for the wealthy no matter how much it pains them to let unemployment benefits expire. This is a problem of the Republicans making and the Democrats need to stop slashing their own wrists in their attempts to fix it. Every single progressive group out there should be taking the CSPAN footage of Republicans voting AGAINST an extension of middle class tax cuts and they should be blanketing the airwaves denouncing the GOP for standing against the American people with tax cuts for the extremely wealthy. Expose this rabid crusade mentality that is driving the opposition to vote against 70% of the people (CBS news poll) to extend tax cuts for the ultra rich. I am so sick and tired of hearing them on the news shows talking about how money to the top creates jobs. If the bottom 97% can't afford to buy anything, then the top 3% aren't going to be creating jobs.
From the Huffington Post: