Actually it is because they are (right now) afraid more of what Congress will or will not do about the debt-tax issue thing that is set to expire at the end of December. Meaning that when it does,
everyone rich and poor will all be paying more in taxes. The average you-and-me worker will be paying $2,000 - $3,000 more per year. Those tax cuts for the rich will expire as will a lot of the exemptions they had been getting will end.
And so on.
Republican House Speaker, Boehner is already at it and has stated ONCE AGAIN that he will NOT allow even the possibility of ANY tax rate raises for the rich class.
(Bottom line, HE and others do not want to pay more)
This from CBS
Quote:
Republicans continue to draw a line in the sand against higher tax rates for upper-income earners as they seek to topple the conventional wisdom that Mr. Obama has the upper hand in upcoming negotiations on averting the potentially economy-crippling set of tax increases and automatic spending cuts due to hit in January.
Mr. Obama faces a tough, core decision: Does he pick a fight and risk a prolonged impasse with Republicans, or does he rush to compromise and risk alienating Democrats still celebrating his victory?
Many of his Democratic allies hope Mr. Obama will take a hard line when he addresses the matter Friday. Republicans warn that a fight could poison efforts for a rapprochement in a bitterly divided Capitol and threaten his second-term agenda.
Mr. Obama has been silent since his victory speech early Wednesday morning, but Capitol Hill Republicans have filled the vacuum with vows to stand resolutely against any effort by the president to fulfill a campaign promise to raise the top two income tax rates to Clinton-era levels.
"Fiscal cliff" talks hinge on taxing wealthy
Top Dem: Boehner's "fiscal cliff" remarks "a good first step"
Boehner says new taxes OK if spending reduced
"Raising tax rates is unacceptable," House Speaker John Boehner, R-Ohio, declared Thursday on ABC. "Frankly, it couldn't even pass the House. I'm not sure it could pass the Senate."
Boehner will address the "fiscal cliff" ahead of the president Friday, with remarks scheduled for 11:15 a.m. ET.
A lot is at stake. A new Congressional Budget Office report on Thursday predicted that the economy would fall into recession if there is a protracted impasse in Washington and the government falls off the fiscal cliff for the entire year. Though most Capitol-watchers think that a long deadlock is unlikely, the analysts say such a scenario would cause a spike in the jobless rate to 9.1 percent by next fall.
It goes on (no idea what he said as I wasn't home)
So really, it is up to the Senate and Congress as to whether or not...