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Cyclops: Debating with myself over Bush tax cuts
by Bryan Gray
Oct 19, 2010 | 1210 views | 0 0 comments | 4 4 recommendations | email to a friend | print
If you believe economic issues easily fall into “black and white” categories, you haven’t been thinking. I recently had a debate with my Republican and Democrat self concerning the current war of words over extending the Bush tax cuts for all Americans.

DEMOCRAT CYCLOPS: “It’s obvious that we should go along with Pres. Obama and keep the tax cuts for individuals making less than $250,000 in taxable income. But those making more should appreciate their opportunity to thrive in this country and pay the mere 4.6 percent more the President is requesting.”

REPUBLICAN CYCLOPS: “They already pay more. Even more important, the higher income folks are the very people who will spend their money, invigorate the economy, expand their businesses and create new jobs for everyone else. Give $100 to a middle-income family and they’ll pay off a credit card. Give $1,000 to a high-income person and he’ll buy a Cadillac. Which one of these creates jobs and spurs the economic recovery?”

DEMOCRAT CYCLOPS: “Get real. Mark Zuckerburg, the boy-wonder of Facebook, has earned $559,361 every hour of every day for the past year. Requiring him to pay an additional 4.6 percent will hardly prevent him from buying his expensive cars and helping the economy. The problem in American is that the rich keep getting richer and the poor keep getting poorer. Warren Buffet, the third richest man in America, was astounded to find that his secretary paid a higher tax rate than he did.”

REPUBLICAN CYCLOPS: “Small business will be victimized by the higher tax rate – and small business is the prime originator of jobs. Just because a person is ambitious, skilled or intelligent doesn’t mean he or she has a responsibility to be everyone else’s keeper. Higher taxes on the higher-income taxpayers will hurt our ability to emerge from the recession and decrease the gifts of charitable organizations. And I don’t define $250,000 as being wealthy.”

DEMOCRAT CYCLOPS: “No, that’s not wealthy. But it puts them into the top 2 percent of the total population! And let’s face it, to have $250,000 in taxable income a person would have to make about $300,000 a year. Under the Obama plan, a person earning $300,000 in raw earnings would only pay $1,753 more to the IRS. I don’t think his family would be forced to eat dog food by paying a bit more to help balance the budget.”

REPUBLICAN CYCLOPS: “But I want him to spend that $1,753 to help the economy, not give it to the government. And I’m disgusted that Congress adjourned to campaign instead of voting up or down on this important issue.”

DEMOCRAT CYCLOPS: “On that we can agree. They should have let the American people know where they stood.”

REPUBLICAN CYCLOPS: “See, there is a chance we can come together and do what’s best for the country.”

DEMOCRAT CYCLOPS: “Yes – unless the Tea Party nuts destroy the country first.”

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