Bush Tax Cuts
On New Year's Day, Indiana's four freshman members of the U.S. House voted against the so-called fiscal cliff deal. If the deal hadn't passed — and it did by a 257 to 167 margin — most middle class families would have seen their taxes go up somewhere in the $2,000- to $3,000-a-year range.
Like almost all Americans, I have watched the president and Congress argue and point fingers over who is protecting whom. What has been particularly disturbing to me is how the White House has pointed at the “entitled 2 percent’ers,” claiming they need to pay their fare share.
Economics is not an experimental science. We can't say to Congress, "Honorable ladies and gentlemen, please drastically raise taxes and cut spending all at once so we can measure the effects on the economy of changes in the federal government's budget." This is not what elected officials do.
Let's see, I'm going to buy a new Mercedes-Benz. And I think I'll buy a new Ford F-150 4x4. I'll sign up for a premium health care plan with a tiny deductible and an array of prescription drug benefits. The scripts will cost me about $4 out of pocket. And I'll take a 10 percent pay cut. If I…
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