Quote:
Originally Posted by epitome
I hate how people forget that the Bush tax cuts were supposed to be temporary and now that decade of tax cuts that couldn't be supported needs to be made up for.
They should have never been. Things have to be put back in place.
If a can of soup has always sold at $1 and it goes on sale for 50 cents for a week nobody says "the price has gone up" afterwards because they realize it was a sale that ended.
The Bush tax cuts were a sale and it's ending.
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That's not the original way it happened.
What happened was our country was running a SURPLUS.
I remember Bush on t.v. when he announced the tax cuts. He said (correctly), that the money belonged to the American people and he wanted to give it back.
That is the right thing to do. Bush was right 100%.
BUT...he turned around and started spending like a drunken sailor.
And not only on wars. But also on the prescription medication bill and tons of other social spending and foreign aid spending.
He never saw a chance to spend money that he didn't take.
And you're right that once he started spending like crazy we no longer had a surplus and it was time to re-think the whole thing.
But if he had kept govt. spending at the rate it was at...then yes, the tax cuts should have been done and the lower rates preserved.
And also don't forget that every year...until now...Obama said the tax cuts had to be kept because it was a "bad idea to raise taxes during a recession"
He only changed that when he ran for re-election this year and had to appeal to the tax and spend far left wing of his party. For his first 3 years he kept the "Obama tax cuts" firmly in place and lobbied to keep them.