Tax Land Mines

There’s all this talk about how the Republican Party crafted a tax land mine when they put in place the Bush tax cuts with a ten year expiration — that they knew that the laws would force action by the Democratic party (you mean the Republican’s knew that after George W Bush there wouldn’t be another Republican in White House, nor would they be in control of either branch of the legislature?

Hmm… I don’t but it, but if it’s true that’s cause for major concern.

So the rational goes:

  • If the Democrats vote on the issue and they choose not to renew the tax cuts; they are seen raising taxes.
  • If the Democrats vote on the issue and they choose to renew the tax cuts for only those making less than a quarter million dollars; they are seen as raising taxes.
  • If the Democrats vote on the issue and they choose to renew the tax cuts as they are now, the Republican’s get what they want, and they are seen taking no action to address the growing deficit.

I don’t know what alternate Republican reality these analysis came from, but I certainly don’t understand why the Democrats can’t take the reigns and turn this into a political hot potato for the Republicans.

Elections are about votes; and most American’s earn far less than a quarter million dollars per year, so they aren’t effected by renewing the tax cuts for only those who earn less than that (the current strategy favored by the Obama administration)… so leverage that, show how (once again) the Republican’s want to benefit those who are wealthy, and are only providing lip service as to trying to control the deficit (it is, after all, Republican policies of the Bush administration that created the deficit we have now — remember when Bush took office there was the so called budget “surplus”).

Regardless of your political affiliation, the only real way to take control of the deficit is spend less than you take in — it’s not a revolutionary concept, and in the end it’s likely we’re going to have to both increase taxes on at least some American’s, cut waste, and likely reduce spending.

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Originally posted 2010-10-02 02:00:45.