I wish Obama would cut the Bush tax cuts for the wealthy. Why? We need the money and they

[Maraya1969]

don't. There is a hell of a lot of money that has been taken away from the government just to give billionaires tax breaks. He said he wants them to expire at the end of 2010 but we need the money now!

There are 243 billionaires in the US according to Forbes. And there has to be many many more multi-millionaires to have that many billionaires. I read in a government document, (which I cannot find but I do know is somewhere) that the Bush tax cuts increased the debt from the billions to over a trillion. If we could get that trillion back it would pay for a lot.

It is an untapped resource and I think it is time we tapped it.

I know our president has shown a lot of guts in his short time in office. I wish he would just do this one more "Republicans are going to scream" thing. At least give someone the job of finding out how much money could be raised if the tax cuts are cut.

[hlthe2b]

1. He's going to let them expire...

So regardless they are gone soon...

[Maraya1969]

2. They are not gone until the end of 2010. That means at least for the income

tax we will not see it until 2011. If he cut them now than the wealthy would have to pay the increased tax in April 2010. And we are in a crisis now.

[hlthe2b]

3. I'm not arguing against your position...

I just think it is a calculated decision by the administration to fight other battles right now and let this die of its own weight...