Fareed Zakaria on CNN today...How can Congress make a huge dent in the deficit in one fell swoop?
BY DOING NOTHING!!
Letting the Bush tax cuts for the rich expire would be the right step in reducing the massive federal deficit. The big banks, big corporations, the rich are sitting on billions of dollars just waiting for the right time to invest.
The rich have their tax cuts, they are hoarding their billions, yet the economy sucks and there is no lending going on for small business, there is little hiring..... so how is it the tax increase will be a negative?? They have their tax breaks and THAT is causing a negative!
Kevin McCarthy (R-CA) on C-Span today says if the tax cuts are allowed to expire then a huge tax increase will effect small business and individuals.
OH CRY ME A RIVER!! GOP LIES!!
If the Republican Party were to gain the majority they would tackle healthcare, financial reform and work to lower taxes and create jobs, according to McCarthy. He went on to criticize the Democrats and their policies, saying, “If you look at national polls, more people believe Elvis Presley is still alive than that the stimulus created jobs.”
So there you have it, the GOP wants to cut taxes, they think that will stimulate the economy and grow jobs. WE HAVE HUGE TAX CUTS IN PLACE NOW AND IT'S NOT DOING A DAMN THING FOR THE MIDDLECLASS!!
We all know tax cuts for the upper 1 to 2% do nothing for the middleclass. It only caused huge deficit increases. Keep on crying GOP, this time it will not work.....
Former Fed Chairman Alan Greenspan said that the push by congressional Republicans to extend the Bush tax cuts without offsetting the costs elsewhere could end up being "disastrous" for the economy.
In an interview on NBC's "Meet the Press," Greenspan expressed his disagreement with the conservative argument that tax cuts essentially pay for themselves by generating revenue and productivity among recipients.
"They do not," said Greenspan.
Republicans want to keep the tax cuts in place but won't say how they will pay for them. Is this their secret plan to eliminate Medicare, Medicaid and Social Security? Is this the way for the GOP, the corporate whores to rid the country of poor people? Because we all know the top 2% don't need SS or Medicare, surely not Medicaid. Damn people don't be so dumb!!
