Do you think the Republicans in Washington should support the compromise on the extension of Bush tax rates? Before you decide you should know a few things about the bill currently on the table.
First, it includes approximately $200 billion in NEW DEFICIT SPENDING AND STIMULUS SCHEMES. This is money that will be borrowed from other countries and repaid by our kids. Conservatives, we sent you to Washington for a reason! If you are going to spend more you have to CUT something of equal value.
Second, this bill only extends the current tax rates for two years. I don't know of any business who does "temporary two-year planning" for their business game plan. Businesses make decisions based on a long-term vision. Businesses will not create jobs without certainty regarding what their tax situation will be well into the future. A two-year extension is nothing more than a band aid on a hemorrhaging wound. And the current proposal does not extend all of the tax cuts. It creates for the first time in 10 years, a "death" tax of 35%. That means you work your entire life, pay taxes your entire life, and if you've worked hard enough to have an estate to leave your kin, the government will take 35% of it. For farmers and small businesses it means you may have to sell the assets to pay the tax. How ludicrous is this?
Third, this bill includes DOZENS OF EARMARKS FOR SPECIAL INTERESTS. This includes ethanol subsidies, tax breaks for the entertainment industry, tax breaks for Puerto Rican rum companies, favors for auto racing track owners, hand outs for businesses in America Samoa, and many, many more. WHAT THE HECK IS UP WITH THIS PROGRAM?
I believe the Republicans in Washington who can make or break this bill should NOT GO ALONG WITH IT. We elected new Conservative leaders to put a stop to the "earmark" agenda and deficit spending. I know many of them won't be in control until January, but those who are currently there need to know that any Washingtonites who vote for this will have to answer to the American public in 2012. It's the first big vote for the Conservatives. I hope they do what they promised us they would do. Or they too will be gone. After January, 2011 they can pass a bill extending the Bush tax rates forever, a bill that does ONLY THAT and is not LOADED WITH OTHER JUNK. Watch THAT stimulate the economy and create jobs.
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