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I see only two reasonable alternatives:
1. Let the Bush tax cuts for everyone expire next month.
2. Renew the cuts for those earning less than 250K.
Looks like the dems are going to cave, though. And the pubs will try to either gridlock any measures to restore the economy or reinstate their tax cut/trickle down jibberish that will result in higher deficits and a double dip recession. But then, no one sould expect the pubs to be reasonable. They've gone after their own reasonable members with a vengeance. The ones left behind are hyperpartisan idealogues who do not have any interest in advancing America.
While that seems to be the most reasonable option, the Repubs don't want the rich to feel a 'hit' of any kind. I would rather let ALL of the tax cuts expire rather than have them ALL extended, and use the money to extend the unemployment benefits. Of course that means that the 'middle' will be paying more taxes, at least those of us who are still employed - I don't mind paying a bit more if it helps those who are unemployed.
I don't think I understand the title of this thread. But somehow we have to reconcile our spending and taxing. Either
1) Congress appropriates money to be spent on various items for the following year. Then tax rates are adjusted to ensure sufficient revenue is collected to pay those bills. Or,
2) Congress sets tax rates for the coming year. Then appropriations are adjusted to fall within the anticipated revenue.
Many Republicans used to call for a Balanced Budget amendment. I'm all for it. Beware, however, that the minute this goes into effect, there will be a massive tax increase, because neither party will be willing to make the kind of cuts required to balance the budget.
I don't think I understand the title of this thread. But somehow we have to reconcile our spending and taxing. Either
1) Congress appropriates money to be spent on various items for the following year. Then tax rates are adjusted to ensure sufficient revenue is collected to pay those bills. Or,
2) Congress sets tax rates for the coming year. Then appropriations are adjusted to fall within the anticipated revenue.
Many Republicans used to call for a Balanced Budget amendment. I'm all for it. Beware, however, that the minute this goes into effect, there will be a massive tax increase, because neither party will be willing to make the kind of cuts required to balance the budget.
But instead, greedy politicians and their useful idiot voters push all this off onto our grandchildren, who will be forced to pay those increased tax rates, because greedy people wanted to make their lives easier today.
As we speak, Elizabeth Warren is running for president, proposing $1.4 trillion in new unfunded taxpayer giveaways, to make going to college free, and paying off tuition loans. Once again, saddling their grandchildren with the huge bill that will come due.
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