Wednesday, July 11, 2012
The Bush Taxcuts
Remember when President Bush proposed his tax cut scheme? The country was mired in the Bush recession and the Bush war. The theory was that if we give everyone a tax cut with the majority going to the wealthy, the wealthy would hire and the rest of us would spend. The biggest problem was that the rest of us didn't notice our tax cut, so it was too small for us to spend more and without increased sales the wealthy couldn't justify growing their business. If the theory had been correct after 12 years this economy should be booming, it isn't and the Republican solution is to make the tax cuts permanent and give more o the top wage earners. President Obama should just let the whole mess expire, at least then there will be increased revenue for the government. I for one will not miss the couple of percent that I get, I'm more worried about pay and benefits that have effectively reduced my salary 11%.