July 11-13: At Netroots Nation

The Hidden History of Guns and the 2nd Amendment Book Tour Is Coming...

Thursday, June 6: NEW YORK, NY 7:30pm

Location: The Strand (2nd floor), 828 Broadway, NYC

Monday, June 10: WASHINGTON, DC 6:30pm

Location: Busboys and Poets, 450 K St NW, Washington, DC

Wednesday, June 12: PORTLAND, OR 7:30pm

Location: Powell’s, 1005 W Burnside St., Portland

Sunday, June 23: SEATTLE, WA 7:30pm

Location: Town Hall, 1119 8th Ave, Seattle (West Entrance) w/Elliott Bay Book Company

Tuesday, June 25: SAN FRANCISCO, CA 7:00pm

Location: First Church, 2345 Channing Way, Berkeley w/The Booksmith

Friday, June 28: CHICAGO, IL 7:00pm

Location: Frugal Muse, 7511 Lemont Rd. #146 (Chestnut Court Shopping Center), Darien

Saturday, June 29: MINNEAPOLIS, MN 7:00pm

Location: Common Good Books, 38 S. Snelling Ave, St. Paul

Friday, July 12: Philadelphia, PA 4:15pm - At Netroots Nation
Location: PA Convention Center, 1101 Arch Street, Philadelphia, PA

Become a Thom Supporter- Click the Patreon button

On the subject of the Bush Tax Cuts, a Republican leader finally said aloud what I assumed they were planning pretty much the entire time. Today, GOP Ranking Member on the House Ways and Means Committee Dave Camp (R-MI) promised to block any proposal that extends tax cuts for the middle class for a longer period than those for the wealthy. This of course would leave Democrats in the odd position of either moving to extend all of the tax cuts, or allowing them all to expire.

Count me as one member of the working class that would rather see his taxes go up slightly than see more of our money go to the hands of wealthy plutocrats who won't spend it and create demand, won't use it to create jobs, and certainly won't do anything else with it that might stimulate the economy.

I'm not alone in this opinion either. Mark Zandi, co-founder of Moody's Economy.com and an economic adviser to the McCain presidential campaign, testified in congress at the height of the recession that extending the Bush Tax Cuts would make an extremely poor form of economic stimulus, scoring worse than almost every other option on the table. Other conservative economists such as Former Federal Reserve Chairman Alan Greenspan and Reagan OMB Director David Stockmanhave stated plainly that "we can't afford the Bush tax cuts."

In exchange for this small increase, we would gain a measurably improved fiscal outlook for our country. The Center for Budget and Policy Priorities points out that the revenues lost because of the Bush tax cuts create the bulk of our budget deficits for 2012 and beyond.

The data makes it very clear that our country's fiscal strength is dependent on beginning to end the Bush tax cuts, and if congress can't build a consensus around President Obama's compromise proposal for allowing the cuts for the wealthiest 2-percent of Americans to expire first, then we should do the responsible thing and move to kill the Bush tax policies completely before they kill our country's future.

I'm asking everyone who reads this to consider signing this petition. I would then like you to share it on your facebook pages, twitter feeds, blogs, etc and say it clearly; if the parties can't come to an agreement to President Obama's tax compromise, then he should go through with the most fiscally responsible decision and allow all the Bush Tax Cuts to expire.

Comments

byteboop's picture
byteboop 8 years 27 weeks ago
#1

I agree with the blogger “…I would rather have my taxes go up than to extend the “Bush Tax Cuts.” I believe the country cannot move forward economically until the largest transfer of wealth, to the top 2%, is eliminated.

Add comment

Login or register to post comments

Sign Up For The Thom Hartmann Newsletter Now

  • Discover the Videos of the Day
  • Get The Daily Stack - Each & Every Article that Is Researched for the Program
  • Read Thom's Daily Blog

How Do We Take Back the Military From the Billionaire Owned Military Industrial Complex?

Thom plus logo Democrats (Bernie & Lee) in the senate proposed legislation saying what the Constitution already says: that Trump can't go to war with Iran without congressional authorization. Every Republican on the committee, except Rand Paul, voted against it.