The first thing you have to understand is that to support Mr. Hodes position on letting tax cuts expire you have to be of the opinion that your property is only yours because the government allows you to keep it. This is a pillar of democrat fiscal policy. It explains why they berate anyone who dares allow a disfavored class to keep their own earnings. The phrase "irresponsible tax cuts" or any similar rhetoric, proliferate throughout the lefts discourse. So at its core the Hodes position is that the legal acquisition of wealth is little more than a royal indulgence that could expire at any moment. Put more simply, democrats cannot believe in individual property rights which should be a problem for anyone running for elected office in a constitutional republic but for some reason has not been a significant impediment.
Second, Hodes excuse for refusing to let you keep your property is that it would be irresponsible given the deficit problems we face. But the deficit problem we have today is a result of trillions in democrat spending authorized by people like Paul Hodes. (Including deficit spending the democrat House approved during Bush). Hodes will argue that it was necessary to salvage the economy, but plenty of people insisted it would not work. Since none of the other people were Nancy Pelosi, Hodes embarked on a series of bad bets with money that did not exist, none of which can be proven to have done anything useful except to give Paul Hodes an impassioned excuse to deny you more of your property.
To make matters worse for Hodes, the one bailout that more and more economists are agreeing actually did something useful was TARP, but Hodes has spent the past two years bragging about he repeatedly voted against it.
Hodes must be your traditional left wing idiot savant. To quote Reagan, “he knows so much that isn’t so.” And he is prepared to tax you to pay for his spending without regard for the impact of either upon you or the economy.
Additional Reading
http://www.heritage.org/Research/Reports/2010/08/Obama-Tax-Hikes-Defended-by-Myths-and-Straw-Men
http://tarpon.wordpress.com/2010/02/02/back-door-middle-class-tax-increases/
