Senator Patty Murray has signaled that Democrats are willing to play a mega high stakes game of chicken in order to press forward with President Obama’s tax plan. President Obama has proposed that the Bush Tax Cuts be extended for any person making less than $200,000 per year or any couple making less than $250,000. The President and Democrats want to raise taxes on those making more than $250,000 to pay down the deficit.
Senator Murray warned Republicans that if they press forward with their plans to extend the Bush Tax Cuts for all income brackets Democrats will let all the tax rates rise even on the middle class. Many in Washington are saying that to not extend the tax rates would send the country off a fiscal cliff and most likely lead to a new recession.
In addition to the Bush Tax Cuts expiring Congress must vote to avoid the automatic trigger that will cut billions of dollars in spending automatically from the military and other government programs.
Senator Murray said in an address to the Brookings Institute,
“So if we can’t get a good deal, a balanced deal that calls on the wealthy to pay their fair share, then I will absolutely continue this debate into 2013 rather than lock in a long-term deal this year that throws middle-class families under the bus. We will have a new fiscal and political reality. If the Bush tax cuts expire, every proposal will be a tax cut proposal and the pledge (to not raise taxes) will no longer keep Republicans boxed in and unable to compromise. If middle-class families start seeing more money coming out of their paychecks next year — are Republicans really going to stand up and fight for new tax cuts for the rich? Are they going to continue opposing the Democrats’ middle-class tax cut once the slate has been wiped clean? I think they know that that would be an untenable political position. And I hope this pushes them to come to the table with real revenue now before being forced to the table if we don’t get a deal before the New Year,”
President Obama and Democrats are playing a risky game right now consistently asking the rich to pay their “Fair Share”, the top 10 percent of wage earners pay almost half of all income taxes. Additionally it doesn’t seem that the message is resonating with voters at this time.