For The Economy’s Sake…


Let the Bush tax cuts expire. Congress will, at some point, have to make a decision before their next taxpayer subsidised vacation on whether or not to extend the tax cuts for the wealthiest Americans that were put in place during George W. Bush’s presidency. It’s really clear to me though not clear to any viewers of FOX/Fake News that the Republicans aren’t anxious to take any action that will move the country forward given how much they loathe the POTUS represent compromise with the Democrats but, perhaps, they can consider that letting the tax cuts expire will boost their image among sane people and enhance the nation’s overall economic picture. At the very least, as the majority party in the House of Representatives, they can take credit for not looking like a bunch of backwards and crazy obstructionists paying attention to what the majority of people are saying in terms of how much (little?) our current system isn’t working.

The points are simple:

~ the gap in wealth levels between the top and the bottom has grown markedly larger;

~ the middle class is rapidly eroding;

~ new members join the ranks of the homeless every day;

~ the nation’s debt levels are staggering and, therefore, it makes no sense except to someone blinded by both greed and stupidity to extend the Bush Tax Cuts for the wealthy unless they’re just fine with knowing that over the next 10 years the nation’s debt levels will increase by another $700 billion.

The cuts were supposed to expire at the end of 2010 but they were extended for another two years when the President compromised with the Republicans and had tea thrown in his face in order to save the unemployed whose benefits were being held hostage extend unemployment benefits for those who had reached the end of the benefit period. Since then, the fight has focused heavily on removing reducing entitlement programs.

Reputable economists have long stated that cutting social safety nets such as Medicare, Social Security and Medicaid, especially during a recession, does more harm than good to the economy, while a small increase in the tax rate for millionaires will greatly help the economy.  Given this common sense, there is little room for doubt that not extending the Bush tax cuts would be the right thing to do…and since it’s clear some don’t care about the middle class, it can be done for the sake of the economy.

__________

Mr. Bennett of the Chattanooga Free Press once again has shown through his drawings how the right has “compromised” with President Obama.