CNN and the rest of the left remain in a tizzy over BO considering "extending the Bush tax cuts" -- a euphemism for "not doing a tax increase in a recession".
A major part of their consternation is that they believe their own marketing lies on the tax cuts:
The tax cuts of 2001 and 2003 provided relief for middle- and upper-income Americas with much of the benefits going toward wealthier citizens, which they argued would accelerate economic growth. The tax cuts reduced rates cross the board on income, dividends and capital gains. They also slashed the estate tax while lowering the tax obligations of married and working poor Americans.
Much as "global warming" is now "climate change", they HAVE changed from merely always saying "tax cuts for the wealthiest Americans" to the slightly more truthful "much of the benefits going toward wealthier". The original ratios were the same as what we have just been discussing: $3 TRILLION for those less than $250K a year income, $700 Billion for those over $25K over a 10 year period. That is over 4x the benefit for those making less than $250K, thus showing the lie of that commonly uttered statement "tax cuts for the rich". In fact, it is really more dishonest that that number, because the folks over $250K are paying over 95% of the taxes.
Much of what Bush did was "reality based", so as reality on things like Gitmo, Patriot Act, jobs creation, etc, so much to the chagrin of the MSM and the far left, as BO is faced with reality rather than political campaign rhetoric, he is forced to bow to reality. It is possible that makes Bush smile, I don't know -- but to the reality based, it really isn't any sort of surprise at all. My guess is that Bush smiles when things are going well for America -- the exceptional America of limited government and personal liberty, while the media weeps for things going well for that America. The America they want is "US Europe" -- just like Greece, "free" only as in "free from religion, morality and patriotism".
Nor is the fact that the left continues to rail against reality surprising -- the only way they can actually "have their way" is a totalitarian regime, and while most of them don't realize that, it would be the ultimate result of their efforts. Thus, our founders wisely tried to make it difficult to have unlimited government ... the scourge of BO has yet again been an example of their wisdom.
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