Too extend of not extend?…that is the question

Posted: July 17, 2010 in Political Commentary, The Blog!

At the end of the year the infamous “Bush Tax Cuts” are set to expire. The big question is too extend or not extend? Republications are fighting to extend the Bush Tax Cuts that will cut taxes for Americans and primarily for the wealthy top 5% of the country, while the democrats are fighting to only extend benefits for those making under $250,000 a year as well as small businesses. The argument for keeping the cuts is that to get the economy on the right track and to help get the debt down the government should give money to the wealthy because they will than “create” jobs for everyone else. The problem is that by doing this you are just making the rich richer and holding down everyone else. When you give more money to people who already have it, they are going to continue to pocket that money and continue to ship jobs over seas were it will cost them less to produce there goods and in turn keep Americans out of work. Too stimulate the economy and get the debt down you need to stabilize the financial situations of the american people and in doing this, they will be able to take the new money they have and put it back into the economy essentially getting the debt down. Under the Bush tax cuts, we were losing 750,000 jobs a month during the end of the Bush Administration and now under the Obama Administration we are gaining jobs. Over 600,000 jobs have been created this year, not a giant number like under the Clinton years but a big turn around from where we were used to. The people that are supporting tax cutting for the rich are the same people who are against extending the unemployment benefits for people out of work. The argument against extending the unemployment benefits, to quote republication nominee Sharron Angle “will continue to make Americans lazy”. Some people say that Americans just sit on their ass, collect the check and do want a job. However, while this might work in the short term if you have some money saved, the average unemployment check in our country is $300, and I don’t know about you but a standard family in the country can no live off of $300 a week so it can only get you so far. Unemployment is down to 9.5%, a slow and subtle downward change, that is a good sign but doesn’t look good. President Obama said that things would get worse before they slowly got better and he was right. Unemployment was at 8.6% when he took office and went as high as 9.9% at the start of 2010 but has since slowly dropped. The problem is that people don’t have patience when they should, Rome wasn’t built in a day and neither will correcting the economy. We need to stop giving to the rich and helping the people who aren’t as fortunate and in doing so all Americans, from the bottom to the top, will benefit.

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