Monday, August 22, 2011

Depends on Who's Benefitting

Should the Congress let tax cuts expire? If you ask Republicans, it appears that their answer depends on if it's the rich or the poorest part of the population.

Many of the same Republicans who fought hard to keep the George W. Bush-era income tax cuts from expiring on schedule for the rich are now saying a "temporary" tax cut for lower income people should end as planned.

Rep. David Camp, R-Mich., chairman of the tax-writing Ways and Means Committee, and a member of the House-Senate supercommittee tasked with finding new deficit cuts, says that tax reductions, "no matter how well-intended," will push the deficit higher. But he didn't worry about that when it concerned the wealthiest citizens, even though this constitutes a much bigger tax break for those citizens.

We think those Republicans are looking ridiculous and hope they look ridiculous to you also. But to them, they have likely convinced themselves that their wealth and power hierarchy is reasonable.