By Joseph Weber, The Washington Times
Vice President Joseph R. Biden Jr. on Sunday defended what he acknowledged as a “morally troubling” decision by President Obama to extend tax rates for all Americans as part of wide-ranging interview on key national and international issues.
Mr. Biden said the president still thinks extending the George W. Bush-era rates for the country’s highest wage-earners, along with everyone else, is “morally troubling.” He said the president broke his 2008 campaign promise on the issue to help only the middle class.
Mr. Biden said the president will try over the next two years to have the rates revert to Clinton-era levels. The tax-cut extension was part of a deal with Republicans that also provides tax credits to businesses and extends jobless benefits to millions of Americans.
“This compromise was to help people who were drowning,” he said. “There are people out there who cannot afford a Christmas tree, much less gifts.”
He said the legislative package could stimulate the economy by as much as 4 percent, and he repeated an administration warning that delaying a bill and causing a big tax increase on Jan. 1 could result in a “double-dip recession.”
The vice president said confidently that his years as a U.S. senator make him the administration’s chief Capitol Hill negotiator. He said the president would sign an omnibus congressional spending measure, which would cover defense and other agencies, even if it includes lawmakers’ pet projects known as “earmarks.”
Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!
We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.