Earnings in 2010
by Emily Steinberg
The crazy discussion over the extension of the Bush Tax cuts has hit fever pitch in media land! Over the weekend, Senator Jon Kyl, (R) Arizona, appearing on Meet the Press, reiterated the GOP agenda of extending tax cuts for the rich while cutting off unemployment benefits for the jobless. Yes, this makes a ton of sense! Let's give the top 1% of Americans a huge tax windfall and leave millions of others, struggling to get by, in the lurch. Have we lost our collective minds? Our moral compass? Are we living in England during the time of Scrooge?
The reality is that the Bush tax cuts, which were not the brightest idea in the first place, considering that we were fighting two wars after 911, were supposed to be temporary. They had an expiration date for a reason. Now the GOP has morphed the cuts into must haves and cravenly says that they are necessary for the job creators. Well, where are the jobs? President Obama and the Democrats in Congress need to craft a clear & simple message to the American people: We will not sacrifice 98% of the population to the selfish wants of the Top Tier!
Here's an idea, keep the tax cuts for everyone making $400,000 a year. Anything over that and the tax cut expires. If you are fortunate enough to be making more than $400,000, God Bless you, you are doing well! And now, your tax rate will go back to what it was under President Clinton. That wasn't too bad was it? Take a deep breath, you guys still have a lot of dough. And as President Bush would say, Go Shopping!
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