Tags: palin | tax | lousy | deal

Palin Criticizes Tax-Cut Extension Compromise as ‘Lousy Deal’

Friday, 17 Dec 2010 07:17 AM

Former Alaska Governor Sarah Palin criticized congressional Republicans for accepting a “lousy deal” to stop taxes from rising for all income levels next year.

Palin, a favorite of fiscally conservative Tea Party activists, said Republicans should wait until next year to pass legislation extending the Bush-era tax cuts that are due to expire on Dec. 31. In the new congressional session that convenes in January, Republicans take control of the House and expand their numbers in the Senate.

“It is better to wait until they are seated and get a good deal for the American public than to accept what I think is a lousy deal,” Palin, the 2008 Republican vice presidential candidate, said in an interview broadcasting today on ABC’s “Good Morning America.”

The $858 billion tax-cut and spending plan extends through 2012 all the tax reductions on income, capital gains and dividends that were enacted in 2001 and 2003. It continues expanded unemployment insurance benefits through 2011, cuts payroll taxes by 2 percentage points during 2011, and lets businesses write off 100 percent of capital investments between Sept. 9, 2010, and Dec. 31, 2011.

Palin praised President Barack Obama for what she called a “flip-flop” on his campaign pledge not to extend tax cuts for families making more than $250,000 per year and for individuals with annual incomes exceeding $200,000.

Since his Dec. 6 agreement with Republicans on a compromise bill, Obama has faced a backlash from some fellow Democrats, who argue that the measure provides too many tax breaks for the wealthy.

“He, you know, can term it ‘compromise.’ I term it ‘flip- flop,’” she said. “I was thankful that he did, but it’s still not good enough.”

Palin, 46, is a possible 2012 presidential contender.

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