Forum Post: The Bush Era tax cuts expire December 2012!!
Posted 13 years ago on Oct. 11, 2011, 12:14 p.m. EST by Doctor
(8)
from New York, NY
This content is user submitted and not an official statement
Are we wasting our time and resources with the tax cuts? It's a manufactured crisis from Washington, designed to pit Americans against each other. They expired last year and Obama renewed it to continue until after the next election. Take that for what you want, but all this talk wastes time and alienates people. There is no way to repeal it now because it will never pass through Congress.
I think we need to focus our message. Get lobbyists out of Washington. Revert campaign financing laws so corporations are not bribing our leaders. Reinstate The Glass-Steagall Act to ensure big business does not drive us into another fiscal crisis. Deregulation lead us into this mess and we need to go back to what worked!!!!
You do realize that those cuts, which were not really "Bush's" but rather more accurately those enacted by Congress during his administration and supported by Democrats as well, affected everyone right? Arguably more so at the lower end considering that the income levels were raised by a larger percent so that more people at the lower end fell within the lower versus next higher bracket. That is, rather than paying 15%, they fell back to pay only 10%.
If you simply let those expire then, at least proportionately, many more people at the low end will be affected than at the high end.