Tax cuts should be extended

October 24, 2012

Every time in our nation’s history that an across-the-board tax cut has been implemented, the economy has greatly improved with more jobs for citizens and more money for the federal government, since we now have more people working and paying taxes with less taking tax money.

Newt Gingrich should receive the credit Bill Clinton gets for a healthy economy in the ’90s. Clinton knew he would have a tough time getting re-elected if he didn’t sign Gingrich’s tax cut bill.

President Obama doesn’t seem to understand this principle, and it seems he will increase taxes on the middle class if the Bush cuts are also applied to the rich. He states he will not sign such an extension.

Tax increases on the rich is so negative and pure demagoguery. There are many more votes to increase these taxes (even if it really damages our economy) than votes to, for instance, extend the Bush tax cuts intact. So, it seems another example of Democrats playing politics for more votes.

Michael A. Smith
Rockford

From the Oct. 24-30, 2012, issue

One Comment

  1. Jared

    October 24, 2012 at 1:22 pm

    It does not entirely follow that lowering tax rates results in more money for the federal government. If you take it to the extreme, the federal government will get no money. So there must be a curve in there somewhere, where you maximize the tax-money in. Do you have evidence that we are above that tax-rate? Or might we be below that tax-rate?

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>