Tax Cuts For Wealthiest Americans Likely to Continue, Many Say
September 2, 2010
U.S. (ChattahBox Political News) – It is bad enough that the Republicans are pushing to keep tax cuts for the wealthiest Americans, making the faulty excuse that it will keep the rich from spending in a troubled economy (apparently forgetting the massive wealth and huge annual income). But now moderate Democrats are looking to continue the bad economic practices of the Bush-era, as well.
According to a report by McClatchy, many Dems are now jumping on the bandwagon, accusing the White House and other liberals of wanting to impose tax hikes on small businesses. There is nothing in the plans that will be drafted into a bill this month that states this, but it sounds good, right?
Either way, the Democrat reluctance not to renew the cuts for anyone making over $200,000 (or $250,000 joint) per year seems to be more about votes than actual beliefs. The Dems are a hair away from losing the majority in a few months, and the Republicans are beating rhetoric like a dead horse.
What people seem to forget is that Bush had some horrible economic practices. Yes, you could argue that Clinton doing away with certain Depression-era laws was a bad move. I would be inclined to agree. But that doesn’t stop the fact that it was the ridiculous practices of the GOP that started the problem.
Think of it this way: we started in a surplus of several billion dollars when Clinton left office, the largest in U.S. history. The only reason the deficit was not higher by the end of the Bush-era, when the major problems started, was because that was burned through first.
I am not saying Dems aren’t partially to blame, but come on, people. Do you really think extending the practices of one of the biggest economic disaster presidents in U.S. history is the way to go?