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View Diary: White House: Holding middle-class tax cuts hostage hurts economic growth (37 comments)

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  •  Which is why we let it expire (1+ / 0-)
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    coppercelt

    The problem right now is that the situation of non continuance is seen as a tax increase.  If they expire, then we will be in a situation where Republicans will have to vote against a tax cut for the middle class.  We will also be in a situation where retail sales are going to drop, so hopefully that will give some motivation to vote for the middle class tax cut, which will result in immediate cash in the economy.  Also note in January when paychecks go down this will look like a pay cut to employees, thus increasing pressure on employers to raise pay.  

    Really, the Bush tax cuts were only ever there to benefit the wealthy.  They get an increase in discretionary income, while allowing corporate profits to increase by allowing employees to gain a pay increase though lower taxes rather than actual compensation.  It was a boondoggle constructed by the neocons to put the country into recession and limit power of the average person.  And the average person is so willing to fight over minimum wage jobs that they were more than happy to be suckered in.  It must go.

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