Video: Jim Webb Defends His Vote to Extend Bush Tax Cuts

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    It’s interesting, just when you think that politicians like Jim Webb don’t read the blogs or care, you get an event like Chap Petersen’s Business Leaders Breakfast this morning, where you get called out by name by the guy you “drafted” for Senate (and helped raise $4 million online for), because of criticism on your blog. In this case, I had questioned how Webb could reconcile his commitment to “Jacksonian Democracy,” as well as his repeated (and passionate) talk in 2006 about how America was breaking into “three pieces” economically, with his vote to extend the Bush tax cuts for people who earn far more than any reasonable definition of “working class.” The response?  Mostly defensiveness, and as far as I can tell, incoherence. Anyway, I guess I’m happy that Webb at least cares what I think! LOL

    UPDATE: On the “flip,” Sen. Webb speaks about foreign policy matters.

    • Elaine in Roanoke

      The reasons he gave do make some sort of sense, although not in terms of his assertions during his campaign. He stated that he has always said he won’t vote to increase taxes on earned income. I assume that means that he would vote to increase taxes on dividend and capital gain income, but he wasn’t clear on that.

      I agree with him on the stimulus effect of the tax extension. It would have been devastating to millions of people if unemployment had not been extended, plus the business tax breaks will stimulate job growth. My complaint is that we gave up an awful lot by foregoing high-income tax increases, plus the 2012 time table was made for the GOP to take advantage of.

      He’s also right that TARP didn’t work as planned because the banks and financial people didn’t do what they were supposed to: free up credit using TARP money. Plus, I agree that we have to avoid what happened to Japan after the 1980-1982 recession. They are still muddling along.