My Prediction on Bush Tax Cut Expiration

Former President Bush enacted tax cuts for all income brackets ten years ago. Because the Democrats had control of Congress and did not want the tax cuts, Bush was forced to use the reconciliation process which requires fewer votes to pass the tax cuts into law, but requires that the law expire in ten years.

It’s been ten years.

I was reading in the paper today that all Republicans want the Bush tax cuts to stay in place, for all income brackets. Yes, that includes the “wealthy” and I am fine with that and no, I am not the “wealthy.”

The Democrats of course, want the tax cuts to expire so they can get more tax money. However, the Democrats only want the tax cuts to expire for the “wealthy” but remain in place for everyone else. In other words, they only want to increase taxes on the “wealthy.”

Here’s the laughable part. As usual, a few of these Democrats are siding with the Republicans “reaching across the aisle” and all that nonsense because they agree that the tax cuts should also include cuts for the wealthy.

I think that’s a bunch of bull.

Every time a small group of Democrats sides with the Republicans, it’s not because they believe in what the Republicans believe, it’s because they have some pet project, or pork barrel initiative that they want all the other Democrats to give them, or concede to them in exchange for their vote. So these few Democrats holding out will eventually “cave-in” as soon as they get whatever deal it is they want brokered in whatever backdoor meetings they have with the other Democrats.

That way they can go home to their local constituents and claim they “secured funding” for a bridge or a beetle farm or a basket weaving school or whatever the hell else they think will get them votes back home. All with your taxpayer dollars, of course.

It’s all one big dog-and-pony show.

In the end, the Democrats will get the votes they need to pass a tax cut for all but the wealthy and the wealthy will be slammed with a nice (and unfortunate for the rest of us) tax hike.

If the Republicans try to stop the Democrats and say they will only vote for it if everyone, including the wealthy, get the tax cuts then the Democrats will simply get all over the news and accuse the Republicans of hating the working man, the middle class, the average American and is refusing to give them the tax breaks they so desperately need because the Republicans only care about the rich.

The Democrats have already gone on TV calling the expiration of these Republican initiated tax cuts that the Democrats voted against in 2001, a “Republican Tax Hike” in 2010. The Democrats voted against the tax cuts, and now that they want them to stay, they are making  it sound like the Republicans are trying to raise them. Only in politics could Democrats call the sky green and the grass blue.

So, for the Republicans, and us, it’s a lose-lose situation.

Categories: Economy, Taxes

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