Look, we know Maine senators Olympia Snowe and Susan Collins only appear moderates by contrast with their rabid, attack-dog, mama-grizzly Republican coreligionists (I've reported on that before). But seriously, Olympia and Susan? Opposing Obama's tax plan because it cuts taxes for 95-percent-plus of Americans, but lets tax breaks expire for people making over $250,000 a year?
The Associated Press is reporting that Senate minority leader Mitch McConnell swears every Republican senator has promised to block Obama's plan.
Of course this comes as Moody's releases a report that says rich people who get tax cuts don't spend their extra money, but save it. That runs contrary to the Reaganite trickle-downers, who say tax breaks for the rich are the best way to help lower-income households. The logic there? Giving the money TO the lower-income households would mean they'd just spend it. While giving the money to rich people would create demand for consumer goods (like Jaguars, in-ground swimming pools, and yachts), and that demand would mean businesses would have to hire more people. Which would give lower-income households more money. After it was laundered through several layers of society, each of whom took their vig.
Good thinking, I say.