Representative John Boehner wants to make the Bush tax cuts permanent to reduce uncertainty in America saying, “ you can't invest when you don't know what the rules are, when you don't know what the tax rates are going to be next year. And that's why making these permanent would be the most important thing we could do to create jobs in the country.”
While it is admirable that Representative Boehner wants to reduce uncertainty, how many millions of Americans are facing uncertainty when it comes to keeping their homes, their pensions, or are facing the uncertainty of staying alive in Iraq or Afghanistan?
Is Representative Boehner concerned about relieving their uncertainty? Let’s face it, how many Americans make over $200,000 per year? It certainly isn’t the majority, it’s the minority.
A retired member of Congress leaves his job in government and then goes to work as a lobbyist for a bank or corporation with the starting salary of $500,000, and that’s on the low end. How is cutting this person’s taxes going to create jobs?
Since the taxes were enacted in 2001 and over eight million jobs have been lost, how is keeping the tax cuts permanent going to create more jobs? If those tax cuts worked, we’d have those jobs now.
The founders understood a good credit system is necessary to promote prosperity. Our credit system is broken, tilting towards growth for banks only, who have trillions parked at the federal reserve earning interest while refusing to lend. Tax cuts aren’t going to make them lend this money to create jobs.
Reducing uncertainty is a luxury many of us won’t be afforded, but one thing is for certain, those who are able to donate large sums of money end up with the rules in their favor; like tax cuts for lobbyists, politicians and the banking billionaires who pay them.
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