Tax cuts are always welcome by the voters and of course Republicans try to use that issue to obtain votes. We have found out as fact tax cuts are not an economic policy or plan and never do the job we are told they would do. The best example is the $1.4 trillion tax cut of the Bush administration who told the people it would keep the economy humming and create lasting new jobs. We know as fact and living proof it did not happen and was just another fairytale.
We know now that money could have been better spent on keeping social security and medicare solvent and could have paid for 10 years or more of health-care reform since the present bill before congress on health-care is estimated to cost approximately $900 billion over 10 years. It also would have been better spent to reduce the federal debt or keep as an emergency fund to take care of situations we find ourselves in today.
We actually should have known those tax cuts would not produce the economic conditions we were led to believe. We should also know by now how Republican policies get into the tax payers pockets 100 different ways. Those who have not figured that out yet are probably the ones who are talking about voting Republican in the 2010 congressional elections. The people have paid a heavy price for this shell game of cutting taxes. It is only the wealthy who came out on top of the $1.4 trillion tax cut, ask the millions of Americans who have lost their jobs under the previous administration. And of course, it is the wealthy who are financing our elected officials campaigns through lobbyist to keep the special favors flowing.
Record job losses, record oil and gasoline prices, a collapsed economy, record federal deficits and debt, a decline in real wages for the average worker and list goes on and on. The $1.4 trillion tax cut was no economic plan plain and simple. It was just presented that way by the good old party boys to sell their ideology to bankrupt America. And now they are opposing everything President Obama is trying to do to reverse the damage they are responsible for. That says it all.
The past is the key to the future if we take time to look at the facts and learn.
