June 6, 2012, Fairfax, VA-Americans for Limited Government President Bill Wilson today issued the following statement praising the calls of Bill Clinton and Larry Summers to extend the 2001 and 2003 tax rates, going further by calling for the current rates to be made permanent:
"When the Obama White House loses allies like Clinton and Summers on an issue as central to Obama's reelection campaign as taxes, there is blood in the water. This episode indicates that the smart money is beginning to price in an Obama defeat, and now Democrat members in Congress will likely be seeking to distance themselves from Obama.
"Congressional Republicans should take full advantage of this growing fissure in the Democrat party leadership, and demand not just that the current tax rates be extended for a year or two, but be made permanent. And the vote should be on its own merits in an up-or-down vote, not as a trade-off for another payroll tax holiday that will further bankrupt Social Security. Nor should it be tied to another continuing resolution that accepts up front trillion dollar deficits as far as the eye can see.
"The vote should simply be on making the current rates permanent, and members can choose whether they want to destroy the economy with the largest tax increase in American history, or give the economy the certainty of where rates are going to be for the foreseeable future. And then the American people will know who stands with Bill Clinton and Larry Summers and the overwhelming majority of Republicans in Congress, and who stands with Barack Obama and the radical fringe spending lobby."
Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.