Published: Friday, July 13, 2012, 12:01 a.m.
Tax cuts
'Job creators' have had 30 years
Sign up for HeraldNet Headlines
I was glad to see President Obama reopen the debate about taxes. He and Romney are on opposite sides. Romney wants to reauthorize the Bush tax cuts for billionaires and the president wants to reauthorize his middle class tax cut for those making $250,000 or less.
We have been force-fed the conservative position that tax cuts for billionaires create jobs. Since Reagan was president they have repeated this mantra. They have had over 30 years to prove this point. Yet, year after year, the plight of the middle class gets worse. It's time to conclude that the conservative approach simply does not work.
What do work are tax cuts for the middle class. Why? Because when you cut taxes on the middle class you create demand. When only billionaires have their taxes cut they don't know where to invest. When the middle class has that extra money they buy cars, refrigerators and college educations for their children. You know, all the things Americans used to do before billionaires started siphoning money out of the middle class. In 1961 President Kennedy passed a middle class tax cut that sparked an economic expansion that lasted in excess of 80 months. There is one billionaire who understands this, Warren Buffett. He has urged Americans to "stop coddling billionaires."
Mitt Romney is part of the Johnny one-note party. A tax cut for billionaires is all they ever have; they have nothing for the middle class. While the Democrats are far from perfect, at least their focus is on average families.
Steven Bates
Everett
We have been force-fed the conservative position that tax cuts for billionaires create jobs. Since Reagan was president they have repeated this mantra. They have had over 30 years to prove this point. Yet, year after year, the plight of the middle class gets worse. It's time to conclude that the conservative approach simply does not work.
What do work are tax cuts for the middle class. Why? Because when you cut taxes on the middle class you create demand. When only billionaires have their taxes cut they don't know where to invest. When the middle class has that extra money they buy cars, refrigerators and college educations for their children. You know, all the things Americans used to do before billionaires started siphoning money out of the middle class. In 1961 President Kennedy passed a middle class tax cut that sparked an economic expansion that lasted in excess of 80 months. There is one billionaire who understands this, Warren Buffett. He has urged Americans to "stop coddling billionaires."
Mitt Romney is part of the Johnny one-note party. A tax cut for billionaires is all they ever have; they have nothing for the middle class. While the Democrats are far from perfect, at least their focus is on average families.
Steven Bates
Everett
Comments
(