September 14, 2010

When the “Bush tax cuts” were created were meant to expire at the end of 2010. Only now is it a problem, especially for Republicans who seem hell bent on saving billions for themselves and their rich friends and not caring how they add to the deficit which they claim is destroying America.

During 2001 through 2006 the Republicans absolutely controlled Congress and the White House and during that time they decided not to extend the tax cuts or make them permanent. It was a stop gap political maneuver and gave them time to spend trillions of dollars on two wars and pass Medicare Part D, all of which was put on the nation's “credit card”.

Then after all this they decided to deregulate the banking industry to the point that we had a financial meltdown in the Fall of 2008. And incredibly, just before it happened Republicans were saying the economy was great when in fact it wasn't and they knew it wasn't. They were again protecting their rich friends.

The rich, after getting their generous tax cuts saved their money and during this time no extra jobs were created because of those cuts. The deficits were never lowered because of the rich making investments with their new found money. If the cuts are extended for the rich the economy will not be improved and no jobs will be created.

Republicans only want tax cuts for the rich and want nothing to do with the middle class which they are purposely squeezing to financial extinction. Amazingly they can get the deluded to believe tax cuts for the rich are good for them.

If all this seems weird, it is. It is also BS.