I thought I understood where both parties stood on the state of our economy: Both agreed job creation was #1. Both were for lowering taxes, for the middle class at least, in order to spur consumer spending. This would create demand, production, hiring, and eventually MORE tax revenue. We would "grow" our economy out of the mess we're in. Textbook simple.
But now I read that neither party is too keen on extending the Bush tax cuts set to expire January 1st.
"Independent analysts say that the expiration of the tax cut could shave as much as a percentage point off economic output in 2013, and cost the economy as many as one million jobs." NYT, Oct. 1, 2012
Now we're being told that our economy can take the hit. One hundred sixty million Americans would see their taxes go up an average of around $1,000 next year. But....I thought....??
I understand why the whack-o ultra-right / Tea Party wants to stir the pot. Their style since they got to Washington is to follow, ironically, the old Leninist credo, "Worse is Better". The worse things get on their opponents watch, the more "the people" will demand their leadership (and I use the term leadership loosely). But now the Democrats are throwing us under the bus, too?
We, you and I, the middle class, are being played for chumps this election year. Where are our responsible REAL leaders? Ronald Reagan, the darling of the Tea Party, I'm sure would be the first to slap down his party's Young Guns today.
He and his responsible opponents across the aisle would be working night and day* to get our economy back on track, not sabotaging the entire country in order to make themselves look good. Why do I think that? Because that's exactly what they did. They got RESULTS. All we're getting today is SCREWED!
S
*BTW...Did you know the House of Representatives has been in session only three (3) days since August 1st? Or that their salary is $174,000 a year? Are ya feelin' the love?
I'm sure they'll get something done at the 11th hour, after the election is over. If nothing else they'll table the problem to 2013 or 2014. That seems to be how it does.
ReplyDeleteYou know though if it comes down to would I rather lose that extra $1000 a year from the tax cut or let my mom's social security get cut to lower the deficit then I'd take the former. Though I'd rather assholes like Romney pay more in taxes than I do. I mean it's just absurd that the more money you have the less you end up paying percentage wise in taxes. If you think about it even if I pay 100% tax that's like 2% maybe of what Warren Buffett brings in in a year.
BTW, I read on Yahoo this morning that Denmark is the happiest country on the planet. So better start packing. Strangely Canada was #5 on the list with Quebec being the happiest part of that. So maybe I'll just go sneak across the Detroit River over to Windsor, not that I've ever had much happiness in Canada; that place hates me for some reason.
Actually I left a couple decimals out of my calculation. It's more like .0002%.
DeletePT is right, nothing will happen until after the election.
ReplyDeleteI guess that asshole Romney could pay more taxes if he simply stopped giving away 1/4 of his income to charity because gvmt can spend his money so much better than his charities could.
Oh and PT you really do hurt your liberal cause by calling the opposition an "Asshole." I lean conservative, but I still call MY president Mr. or President Obama. Dissent is good, but I still believe in respect...just sayin.
Maybe when he's president I'll start to respect him.
DeleteBoth parties lie to us about taxes. Let's face it, taxes are at an all time low (no matter what the Tea party thinks) and the deficit must be lowered. Raising taxes is the only way to secure our country and our future. The question is: which party do you trust to do the best job of making it so everyone shares this tax burden fairly. To me, the answer is clear.
ReplyDeleteAgree with Stephen on this one. If you or I as responsible individuals owe a lot, we need to raise our income (work overtime, take on a second job, whatever). Our government needs to do the responsible (unpopular) thing and raise taxes.
ReplyDeleteOf course I won't "like" it - but I'll put up with it if the burden is distributed fairly.
Steve, Peeper....I wouldn't necessarily disagree, but keeping the tax cut to kick- start spending and grow the economy is also a viable option.
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