The so called Bush Tax Cuts will expire at the end of the year and the Democratic controlled congress should let them expire with the exception of those earning under $250,000.00 a year. As usual, the Republicans are using the issue as a wedge to divide the people by saying it will be a tax increase for the wealthy if let to expire.
Former President Clinton would have a field day with the Republicans on this issue and would point out that the legislation was passed by the Republican controlled congress who put a sunset date of December 31, 2010, which means the tax rates would revert back to the previous level. If that is a tax increase it is the Republicans tax increase, not the Democrats.
Everything the Bush and Republican controlled congress did turned out to be a financial disaster for the middle class, the economy, for the creation of new jobs and was catastrophic in creating record federal deficits and debt for the country for eight straight years. Every major expenditure of the Bush administration was unfunded, including the prescription drug benefit that cost the government $1.2 trillion over 10 years and is still being paid for by the people and the Obama administration. That benefit also gave the people the donut hole that Obama's health care legislation closes.
Trickle down economics during the Bush years gave the country and its people the worst economy and loss of jobs since the great depression. Trickle down economics and unfunded expenses are trade marks of the conservative Republican ideology to bankrupt the federal government and deny the government needed revenue to finance programs that really matter and make a difference for the country and its people. That says it all.
