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View Diary: President Obama calls on Congress to protect tax cuts for the middle class (70 comments)

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  •  It doesn't amount to much for the little guy (4+ / 0-)

         I make about $100,000 a year, and the Bush Tax Mistake saved me about $200 a year.  No big deal because the Bush Tax Mistakes were skewed to his "Haves and Have Mores".  
          Even Obama talks about $250,000/year salaries.  I have never made that much money in one year, ever.  
          The fiscal discussions talk in Trillions of dollars over ten years.  Those are hard numbers to get my mind around.  Even a yearly number in Hundreds of Billions is too big sometimes.  But if we broke it down to a monthly number, I can understand that.    If we did that, Obama's $2,000 annual tax hit breaks down to $166 a month.
          At my end of the Bush Tax Mistake spectrum, it's about $16.  A case of beer a month.  I can handle that.  

    •  The issue (0+ / 0-)

      is that these small changes cause people to be more cautious in spending.

      Middle class spending drives the economy.

      Failing to extend unemployment benefits will crush the economy because more than a million people will suddenly have no income.  Unemployment benefits barely cover food for a family, so all of it is spent each month.

      If you add up everyone's $16 or $166 per month, that's literally millions of dollars not being spent to drive the economy.

      Right now the recovery is so tenuous that every dollar counts.

      So it's a bigger picture than whether we can afford a case of beer every month.  

      Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek. Barack Obama

      by delphine on Sat Dec 29, 2012 at 09:46:15 AM PST

      [ Parent ]

      •  BTW (0+ / 0-)

        not implying your comment was about unemployment benefits.

         Just used that to illustrate the major impact on the economy if just a million of us stop spending.

        So millionS of us spending $2,000 less per year, or $200 less per year, can have a huge negative impact on our economy, as well.

        Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek. Barack Obama

        by delphine on Sat Dec 29, 2012 at 09:50:31 AM PST

        [ Parent ]

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