The president is asking the House to retain the Bush tax cuts for individuals annually earning $250,000 or less (98 percent of the population).The Republicans want to retain the Bush tax cuts for everyone.
Think about this. "Everyone" includes the 2 percent who earn (mostly on their investments) an average (for a 40-hour work week) of $93,000 per hour. Raising their taxes to 30 percent of their total income would reduce their take-home pay to roughly $90,000 per hour.
Why are the Republicans so determined to keep the tax rates for the super rich at the present level rather than to return to the level of the Clinton era (when we had a balanced budget and low unemployment)?Because, they say "these are the job makers." "Raise their taxes and unemployment will go up."
No evidence supports this assertion. Look around you. Where are the jobs ? Why are there fewer jobs now than before the tax cuts ?
Contact your representatives to express your concern.
- Judith Cieslak, Valparaiso