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I'm sure I'll make some people angry here, but I don't agree with either side concerning the Bush tax cuts. It takes considerable effort to remember anything that the last President Bush gave us that was a good idea -- this includes the tax cuts. Those tax cuts were not put in place to help true middle-class Americans. The way I see it, the cuts served two main purposes: create a budget deficit so large that Democrats would have to cut social programs and to make the wealthy even more so -- both through the immediate tax breaks and, also, from the increased money to spend when the social programs are cut.
Due to the Great Recession, it could have been done gradually, but all the tax cuts should have been repealed. Think about it. While there are excesses that could be cut from the budget, we need most of the things done by the federal government, and these things cost money. Despite the fact that we keep hearing how low inflation is, how much does it cost to do and buy things now as compared to 10 years ago. The same services the federal government performed 10 years ago cost much more now. If we still want agencies that protect the food supply and track diseases and weather and maintain critical infrastructure, etc., then we have to pay for them, so why would anyone think the federal government could still do all these things for less and less money? The tax cuts were never paid for. When the Republicans passed those cuts, they increased spending by leaps and bounds with 2 wars and an overly generous (to the pharmaceutical industry) prescription drug policy for medicare. Now those same Republicans want to cut Medicare AND Social Security, and Social Security has nothing to do with the deficit since its revenues come from a separate tax. Just raising the payroll tax cap a little combined with a slight increase in the tax for everyone would take care of any future shortfall, but no one hears even the Democrats talking about that.
In short, while the Republicans have labeled liberals as "tax and spend," Republicans seem to be "spend and spend" with no regard for the revenue to pay for it. Conservative strategy is to cut programs that favor the common person to pay for the military-industrial complex, and their favorite way to do that is to bust the bank then demand to cut social spending.
dkf
(37,305 posts)Now that the middle class has it firmly in mind that they pay their fair share and cannot be expected to pay more the only avenue left to balance the budget is to cut spending.
The republicans have won.
Left Turn Only
(74 posts)I feel you're right, but I hope you're wrong.
kydo
(2,679 posts)they were winning but this isn't over. In away this is similar to football. Team rethug has pretty much been dominating but kinda like the Texans tonight for all their dominance in the stats they only scored field goals. No slam on Cinci but the Dems are not like them, in this game it isn't over. The Dems got the momentum back right now and there is still plenty of time on the clock. Sorry I got football on the brain.
dkf
(37,305 posts)Only the rich can afford to pay higher taxes.
That doesn't pay the bills.
Once you've lost the need to sacrifice argument, you've lost the ability to sufficiently fund government as is.
samsingh
(17,571 posts)vile, treacherous, things
pansypoo53219
(20,906 posts)or the CREDIT CARD PARTY.
dkf
(37,305 posts)Is there anyone?