Sunday, November 14, 2010

Big Babies!

The soon-to-expire Bush tax cuts: there is no argument that the middle class income-earners will not see an increase when the Bush tax rates expire. The hullabaloo is over the idea of whether those earning over $250,000 per year should soon be required to pay 39% in federal taxes rather than the current 36% implemented under W.

Before I reveal the ridiculously simple solution, I'll make both arguments.

Dems: "We have to recoup the national debt- and middle class families should not be the ones to have to do it because it was the middle class who was hit so hard by the Great Recession which began during the Bush administration."

Reps: " There should be no increase in taxes for any income bracket during an economic downturn because the more money people have, the more they will spend. And, if employers have to pay more taxes, they will not be able to create jobs."

Dems: "The rich have had the 36% rate for years. Where are the jobs? If middle class workers are confident that our national economy is getting on track by reduction of the deficit, they will be confident to spend, and businesses with more customer traffic will hire more help."

Tea Party: "Obama is a communist. There shouldn't be any taxes for anyone."

Pragmaticlanders: "The right wants 36%, the left wants 39%, GO TO 37.5%!!!!!!!!!!!! Man, you people are STUPID!!"

Have a Great Day.

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