Economy

Republicans Pull A Bizarro Robin Hood

May 11, 2006 ⋅  E-Mail Article ⋅  Print Article ⋅ Post a comment

The Republican politicians have given themselves a large pat on the back in regards to resolving the tax issues they have been debating for some time now in Capitol Hill. However, is this tax relief for the rich once again or is there real substance for all to enjoy? The House Republican leaders say they are prepared to move forward on tax breaks worth approximately $70 billion over the next five years, the breaks are mostly bonuses for those who are investors, or are considered to be middle-class income families.

However, most middle class income families are struggling to make it by and they do not really fall into the investor category so where is the real relief other than the upper part of the middle class and the fortunate enough individuals who are invested in stocks and bonds? What is the real deal for the average American taxpayer? Most likely you will get more of the same, more hardship and less security, the measures being passed by the house are just band-aides for the time being, they do not really address the budget deficit issues at their core, nor do they really create fiscal responsibility in Washington. They create a false sense of economic growth when in reality they are just fudging the measuring sticks. How much longer can the Government function taking 1 step forward and two steps back?

Supposedly the Senate will clear the bill for President Bush’s signature by Friday, this will help President Bush attain a milestone he set for himself thus he will achieve one of his top tax priorities while also giving a boost of good PR to his Republican party members on Capitol Hill. It’s a win\win for the President and the Republican Party but it is a non-event, maybe even a potential catastrophe, for the average American taxpayer.

Reportedly the bill will offer a two-year extension of the reduced 15 percent tax rate for capital gains and dividends, this was not set to expire for a few years so I really don’t understand why the issue was addressed so promptly, nor was the issue very important. We have seen the mess the alternative minimum tax has caused, this too has only benefited the rich, it actually is punishing the Middle Class and I defy any tax accountant to tell me otherwise. .

How can we give large tax breaks while fighting the war in Iraq as well as the war on terrorism, drugs, and illegal immigration, not to mention education? Where are the real leaders of this country, I want substance for my vote in the next election not more temporary band-aides.

President Bush Needs Better Tax Plan

Related Posts