If the grown-ups were honest about this fiscal mess, they would admit the tax cuts must end for all. The ending should be in stages to reduce the likelihood of the need for public assistance for working\working-poor families. Although $250K is different for different parts of the U.S.A it does mean you are not in the ghetto. There is no $250K/individual ghetto in America. If you are reading this posting and you know of such a ghetto, please let me know for I need to move to that state. If taxes go up for individuals making $250K and above they will not face a need for public assistance or eating cold food in the dark in a cold home. Economist may I have a reality check for all?
In the short-term we will moan and groan but we will be ok. Last week I paid my bills with the exception of the gas money required for me to go to work. I, my child and even the stray cat have eaten all week. Although I have no tree, partridge or even a pear, I do have electricity and gas. I am growing closer with my teen by showing to him how to prepare meals from scratch. I explained to him how paying now while saving a little will allow us to have a better life later.
I admit, I do not know macro from micro economics but I do know we did better in 1994 than in 2004. We must end the Bush Tax Cuts now while the rates are low on our loans. It is better for us to pay than for our children, grand-children, and the generations after them. We can end this mess now. We allowed Bush and the GOP controlled Congress to issue a tax cut before we paid the deficit in full in 2001. What company, other than Hostess or Bane Capitol, pays a bonus before an increase in revenue? It is time we end the fiscal insanity of the GOP federal money grab. Take me over the cliff.
President Obama must stand strong on his campaign promise to us? We stood in unnecessary long lines for up to eight hour and voted for $250K not $400K. The GOP lost seats in both the House and the Senate. The GOP does not have an austerity mandate. GOP austerity for all but corporations (think oil subsidies) is not the answer for our nation. The President must not back down on $250K with no cuts to the fiscal social safety nets.
I have been over the cliff for years. I am not dead yet. Between social safety nets, family, friends, and a will to just live I am still here. I know we as Americans will come together to keep our nation strong after the cliff dive. Please contact Congress and the White House.