READ MY LIPS: RAISE MY TAXES
My family has done fairly well in the 21st century, thank you, in part to unnecessary tax cuts from the Bush Administration. Though not in the upper 2% of wage-earners, Uncle Sam borrowed enough money so we could enjoy a few extra toys and a second yearly vacation.
In the debate whether to end Bush windfall tax cuts which expire December 31 unless extended, there are three options: end all of them to more quickly bring down the deficit; extend them for just the bottom 98 %, to provide continued relief for the folks who spend every cent they retain, thus spurring our crumbling economy; and extend them for everyone, including the upper 2%, who don't really use that borrowed largess to hire folks or otherwise spur the economy.
On balance I support option 2 as the most humane and helpful to economic recovery. However, I urge the Administration and the Congress to reject option three, extending tax cuts for all, even if it means losing them for the bottom 98%. We need to stand up for fiscal sanity and extending them to the rich to pay off a campaign debt is fiscally immoral and irresponsible.
If they are ended for everyone then the voting public will have to decide who to blame for the suffering they will cause to the needy and our economy. If they blame the Republicans, then just maybe, we can end the siphoning of middle class wealth to the super duper rich, and begin to focus on saving our formerly unequaled economy. If the Dems get the blame, then grab your popcorn and beer, sit back, and watch as America morphs into a banana republic.
Also published in the Chicago Sun Times, December 7, 2010, and the Daily Herald, December 14, 2010
In the debate whether to end Bush windfall tax cuts which expire December 31 unless extended, there are three options: end all of them to more quickly bring down the deficit; extend them for just the bottom 98 %, to provide continued relief for the folks who spend every cent they retain, thus spurring our crumbling economy; and extend them for everyone, including the upper 2%, who don't really use that borrowed largess to hire folks or otherwise spur the economy.
On balance I support option 2 as the most humane and helpful to economic recovery. However, I urge the Administration and the Congress to reject option three, extending tax cuts for all, even if it means losing them for the bottom 98%. We need to stand up for fiscal sanity and extending them to the rich to pay off a campaign debt is fiscally immoral and irresponsible.
If they are ended for everyone then the voting public will have to decide who to blame for the suffering they will cause to the needy and our economy. If they blame the Republicans, then just maybe, we can end the siphoning of middle class wealth to the super duper rich, and begin to focus on saving our formerly unequaled economy. If the Dems get the blame, then grab your popcorn and beer, sit back, and watch as America morphs into a banana republic.
Also published in the Chicago Sun Times, December 7, 2010, and the Daily Herald, December 14, 2010
posted by Walt Zlotow at 3:23 PM
0 Comments:
Post a Comment
<< Home