Tax Extension Debate Lacks Credibility

President Obama, feigning concern for budget deficits, has repeatedly argued that the government should not extend the Bush tax cuts to the "wealthy" because it cannot afford the $700 billion price tag.

This argument has been repeated time and again in the fawning news media, without so much as a hint of balanced coverage. As a result, most Americans believe the middle class tax cuts can be achieved without busting the federal budget. However, the tax breaks for the "wealthy" will bankrupt the country.

If you doubt this, search your newspaper or watch the television coverage for any mention of what the middle class tax cuts will cost taxpayers. You won't find the number anywhere. That's because the media is aiding and abetting the Obama charade. Class envy is the stock and trade of Democrats and their surrogates in the media.

It is not like the financial impact is difficult to find. More than a month ago, the Congressional Budget Office estimated that extending the middle class tax cuts over the next decade will cost $3 trillion. Raise your hand if you have seen or heard this number in any of the news reports during the current debate?

Extending the tax cuts for everyone, including the so-called wealthy, would cost the government $3.7 trillion over the next ten years, according to the CBO. That figure includes the $700 billion that the president is so fond of shoveling out to the lap-dog media. No one in the media ever mentions the $700 billion is for ten years.

This is only the latest example of media bias that many in the industry so passionately claim exists only in the minds of right-wingers. (My favorite example is the corrupt San Antonio Express News.)

If there is to be an honest debate over extending tax cuts, then all the facts should be weighed, not just those that favor the president's position.