Dems Unlikely to Repeal Bush Tax Cuts
Submitted by fritzpardue on Wed, 09/01/2010 - 7:19pm
I just finished reading an article by a writer for McClatchey News that the Democrats in the Senate will probably not repeal the Bush tax cuts.
First off, there is nothing to repeal. President George Bush could not get his tax cuts aimed at the richest Americans through the Senate and had to rely on "reconciliation", a manuver now condemned by Republicans as "Un-American". Because reconciliation was used, the bill only had a life of ten years and Bush and the Republican led Senate knew this and voted to end the tax cuts after 2010, not a majority of Democrats, but Republicans.
Now our Democratic Party which did not have the backbone to stand up and vote against Bush's War In Iraq, did not have the guts to deny corporatists like John Roberts and Samuel Alito a place on the highest court, did not have the character to fight for a public option for health care and thereby reduce our being victims of a merciless for profit health care system, may not have the resolve to show some fiscal sanity and let the tax cuts expire but expect us to vote for them in November.
The Republicans was to extend the tax cuts without paying for them in the budget but would refuse any stimulus packages, no matter what part of the economy it is aimed at, unless they are paid for.
The theory of Reagonomics was if you give rich people tax cuts, they will use that money to invest in new business and thereby spur the economy into growth. IT NEVER HAPPENED.
Those well heeled tax payers put the money into stock purchases, T-Bills, CD's and other things that DID NOT create jobs but only created more wealth for them.
The real poster child of the Bush tax cuts was Bill Gates who was asked by a news reporter following the passage of the tax cuts, "What will you do with all that money, build another factory?"
Gates answered,"Yes I may, but not in the United States."
If the wealthy want tax cuts, let them get them the old fashioned way, let them earn them.
Meanwhile I see no reason to reward cowardly Democratic office holders for their timidity.
- fritzpardue's blog
- 734 reads
Truth in Advertising
Let's at least use accurate terminology. What the Democrats will not do is repeal the Bush/GOP tax hikes, enacted in 2001, that are scheduled to take effect on January 1, 2011.
______________________________________________________________________
Not everything that can be counted counts, and not everything that counts can be counted. -- sign on Einstein's office wall.
Odd use of the word "truth"
The tax code was changed thusly:
source
Use of the word "lowered" might lead a person to believe that they were indeed "cuts".
Environmental Defense Fund
Cell phones will be to the 21st century what tobacco was to the 20th.
And you might link this post to the one
about getting less involved in the Democratic Party. No freakin' way these cuts should be made permanent. Gutless DC Dems.
Environmental Defense Fund
Cell phones will be to the 21st century what tobacco was to the 20th.
The last I read about this, was the Dems are considering ...
extending the cuts for everyone, except those over $250 K. The original bill will expire in Jan, so there is no 'repeal' involved.
Extending the cuts..
...for those making less than $250K, is indeed Obama's plan. But it appears that Republicans are prepared to allow the 2011 Bush tax increase to take effect for everyone instead.
______________________________________________________________________
Not everything that can be counted counts, and not everything that counts can be counted. -- sign on Einstein's office wall.