Press Release

Extension of Bush Tax Cuts Yet Another Stimulus for the Rich

“The continuation of Bush tax cuts for the rich has left Republicans unified and rejoicing and Democrats and independents rebelling.  It’s unfortunate the cuts were linked to unemployment benefits for 2 million American families.  This was an unholy linkage. 

The plight of the middle class should not be compromised to appease the top 2% of Americans--the wealthiest of the wealthy. Extending the tax cuts for the rich will add $700 billion to the federal deficit over 10 years. The compromise on the estate tax, set for two years at 35 percent with a $5 million exemption amount, is another bonus for the rich. The tax cut “compromise” is another example of watering the leaves at the top and leaving the roots at the bottom dry.  Too many resources are going to too few people who don’t need them, leaving out too many that do. 

The cave in support from Democrats and liberals left the president exposed like a running back without blockers. 

While we are debating tax cuts, we are continually cutting urban transportation—green jobs, unemployment is on the rise, 59 million American are without health insurance, 49 million Americans are living in poverty and 41 million are on food stamps. 

I urge the president to tour the nation. His strength is among those that sent him to Washington; young people whose student loan debt now surpasses total credit card debt; those who live in urban communities; and labor groups. 

Republicans threatened to vote against extending unemployment insurance to millions of workers who can’t find work through no fault of their own unless the president and Democrats agreed to extend the Bush tax cuts for the rich at the cost of about $60 billion a year. Washington is not listening to the people. It is time for the people to rally and march, in the tradition of Dr. King, for their agenda. Those that love and support the president must mobilize and march to strengthen him.” 

The Rainbow PUSH Coalition is a progressive organization devoted to protecting, defending and expanding civil rights to improve economic and educational opportunity. The organization is headquartered at 930 E. 50th St. in Chicago. To learn more, please visit www.rainbowpush.org or call (773) 373-3366. To arrange an interview with Rev. Jackson, please call the numbers listed above.

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