Friday, September 17, 2010

Self-serving Senator from Indiana

Apparently not all retiring Senators care about doing the right thing on their way out the door. With "Democrats" like Evan Bayh who needs Republicans?

Sen. Evan Bayh (D-IN) has adopted the Republican line when it comes to the Bush tax cuts, even though he likes to style himself as a deficit-hawk.

Today, MSNBC’s Chuck Todd asked Bayh about the poverty data, and whether there is a disconnect between the real economic pain that people are feeling and lawmakers squabbling over tax rates for the wealthy. Bayh agreed that there is a disconnect, but then concluded that the poverty increase means lawmakers should forget about “fairness and things like that” and cut taxes for the rich: [...]

Bayh conceded that the top two percent of earners doesn’t include many small businesses, but said that we should spend more than $800 billion to cut their taxes anyway, because “we want them doing more hiring, more investing, and at least hanging in there from a consumption standpoint.” However, according to a new study from Moody’s Analytics, the rich are more likely to save the money if their taxes are cut than spend it.
Of course, he falls into that top tier of income earners, that tax break will come in handy for Mr. Bayh in his retirement. The only good news here is he'll be gone by January.

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