November 19, 2010
I’ll be honest; I’m having a hard time finding a way to start this post. I mean, where do you begin? When something like this come from the Republican leadership, you’re mind starts going in circles and doesn’t want to stop. See if you have the same reaction: Representative Mike Pence (and Senator Jim DeMint?) are admitting that the Bush tax cuts did not work. Yet, they are two of the loudest voices in favor of extending the tax cuts for the rich, because not doing so is “a job-killing policy”.
OK, before you try to read any further, do what I did. Walk away for a couple of hours and try to overcome the dizziness.
“PENCE: Jim DeMint and I are offering legislation on Capitol Hill today to say, look, let’s make all the current tax rates permanent, uh, and then let’s start to work from there toward putting in place the kind of policies that’ll really get this economy moving again. You know, I think it’s fair to say, if the current tax rates were enough to create jobs and generate economic growth we’d have a growing economy. It’s not working now. Let’s at least give some certainty there and then we’ll fight for more tax relief.”
“Let the rich keep the tax breaks they’re already getting and we’ll fight for more later!” Are you kidding me!? Are — you — kidding — me!!?? Now where did I put that thing? Oh, here it is!
Look! Every one knows that more and more tax cuts is the Republicans answer to every single problem in government and the country. It’s just something they are not ever going to let go of. Even John Boehner admitted that the reason he came to Washington in the first place was to get rid of taxes. That revelation came to him when he earned his very first pay check and realized that he wasn’t getting the full gross amount.
Personally I think all tax cuts should be allowed to expire. 90 percent of the country may still be in a recession, but the country’s future can not withstand tax cuts for anyone right now. But to extend the tax cuts to the rich is insanity: Rich Americans save their tax cuts instead of spending them. So where’s the advantage of giving them more tax breaks? Except, of course, to them.
We only have to glimpse into the rear view mirror to see how well tax cuts have worked relative to economic growth and employment. George W. Bush cost the country $4 trillion of tax revenue over 10 years with his tax cuts (on top of what he spent) only to see our economy crash, millions of jobs lost, the deepest recession since the 1930’s and another $4 trillion-plus to fix the problem his Party contributed mightily to. How many more trillions are we going to let the Republicans spend before we say “No! No more! We’ve had enough of your lies”!