House Dems reject Obama's tax plan

By Thomas Lifson

Left wing Democrats in the House of representatives have decided to raise everyone's taxes January 1st because President Obama's compromise "framework" doesn't punish higher income earners with tax increases. This is as clear a demonstration as one could find of class warfare dementia on a mass basis. CNN:

Defying President Obama, House Democrats voted Thursday not to bring up the tax package that he negotiated with Republicans in its current form.

"This message today is very simple: That in the form that it was negotiated, it is not acceptable to the House Democratic caucus. It's as simple as that," said Democratic Congressman Chris Van Hollen.

There is no way that this action will help anyone in America, least of all those lower income earners whose taxes will increase, and those who will lose, or never get, jobs as employers face higher taxes.

Update: The move is purely sumbolic, as Speaker Pelosi has the power to bring up the matter on the House floor.