Congress is extending tax cuts to the wealthiest Americans again, but at a great cost to the rest of us. Sure, our representatives tell us they help all Americans, but that’s not true – unless you think all Americans are helped by giving workers who make under $40,000 a year a refund of LESS than $17, while those who make over $1 million a year will get about $43,000.
Why are we giving $43,000 to people who already have more money than most of us will ever earn in a lifetime?
The problem, too, is that giving tax cuts to the wealthy also puts us more in debt.
Right now, every person alive in the United States owes over $27,000 towards the national debt. And if you only count people who are working, the amount is a stunning $60,000 each! If you had to start paying this off at current interest rates, you’d have to make monthly payments of $226 a month for the next 100 years. And Congress thinks now is the time to give millionaires more than $42,000 each?
And it’s not like there are just a few millionaires. In 2004, there were over 2.3 million of them. That’s a lot of people who have the potential to receive such tax breaks, while those of us who earn under $40,000 a year will get to celebrate our big tax cut by taking our family of four to McDonalds and blowing the entire amount there.
This country is in debt to the tune of almost $9 trillion dollars. Just since Bush came into office the amount per person has risen by $10,000.
And Bush isn’t slowing down his spending. Each day, we borrow $2 billion more dollars – a lot of that from foreign countries. We owe Japan $668 billion and China over $260 billion. We even owe Caribbean banking centers almost $100 billion. Caribbean banking centers? And what’s going to happen if any of them suddenly call in their loans? I don’t know about you, but I don’t trust China to have our best interests at heart.
Zach Wamp voted for these tax cuts. Voted for increasing the deficit. Voted for placing our future into the hands of foreign governments. It’s time for Congress to be as careful with the money as we are with our own family budgets. As Bush used to always say – Congress is spending “our” money. It’s time to restrain Congress’ desire to give tax cuts to those who don’t need it. It’s time to reduce unnecessary spending that pushes our debt higher and higher.
It’s time for us to run our country like we run our families… on a budget we stick to.
What is the outcome for families that act like the Bush administration? A dismal and trying time of rebuilding, a time where they probably can’t afford health care, a better environment for their children, and better security for their homes.
What is the outcome for our country if we don’t make changes NOW?
… Pretty much the same.
I’m a Fighting Dem running for US Congress in the third district of Tennessee. I’m running a grassroots campaign against a long-term Republican incumbent who has chosen not to honor his term limit pledge of twelve years ago. Please visit my website at http://www.terry06.com and help take America back! I need and very much appreciate your support!