Monday, August 23, 2010

Tax Cuts....

8-23-10 logical brain
A few weeks ago I was on a mini rant about the Bush Tax Cuts (here)…. Since then, I’ve been looking around my middle class neighborhoods (both in DM and KC) and thinking about this more…. How best to spur on the economy?

Well, my neighbors and I (none of us make over $200,000... most of us not even close to that) and we seem to be doing a better job of “employing Americans” than any wealthy investor might.

At my house we have been doing home repairs and got a new roof. Neighbor Sue got new living room furniture (leather couch had “Made in USA” tag), she also hired her hardwood floors to be redone. Ann and Roy also got a new roof, Tamara and Doyle got a new kitchen, neighbors in KC are having their house repainted. Neighbors Chris and Paul hired local landscaping company to install a water garden and new patio.

Our spending directly is employing small business people in our communities. That way they can feed their families without government help.

That’s why I say, give the tax cuts to the middle class and NOT to the wealthy 1 or 2% of the US population. After all, what REALLY have they done with their extra money since the tax cuts Bush gave to them? I didn’t see any large spurt in our economy back then. All I see is more money going back into the pockets of politicians and their campaigns.

The “trickle down” economic mind set just does not work. It only creates more poor people which in returns requires a bigger government to take care of them.

If people truly want smaller government, then give more money back to the middle class and make laws that favor the working middle class.

OK, that’s my rant for today!


  1. PS: I know my friend Teresa will remind me that I too got a tax cut from Bush. Yes, I do remember that $600... peanut. We gave it to our church, since we didn't need it at that time. Now I would spend it on myself, since things are now tighter.

  2. Dear Ms. Rant....can we stop revisiting the past... we can't change it... but we can change the future. Can we rant on "why hasn't obama given a tax break to the middle class.. now that he's been in office 1.5 years? Why was that not his first priorty or even second?

    I added to the local economy by going to the fair 8 times in the last 12 days...

    Had to say this.....

  3. Sister Ann, “those who forget the past are condemned to repeat it”. Obama can not un-do the mess in just 1.5 years. Grid lock between the parties looks to be the down fall of our country. Neither side wants the other side to “win” a victory at improving things…. So they continue to oppose each other just for the sake of opposition.
    PS: I know we can always count on you to help stimulate the economy. Thank you for doing your part :)

    "just saying....."

  4. Dear godmother,
    You are correct when you say you have given the employees of those small businesses the ability to work on that particular job, but in fact it was the owners of those small businesses who were able to give those employees steady employment. Without sufficient capital resources, those owners would not have been able to provide stable employment to those individuals. Small business owners (those in the upper and upper middle class) fuel our economy. Between 36 and 39 percent of small business owners are in that top 2% that would receive a tax hike should the Bush cuts not be extended. When you take money out of small business, they either have to increase prices (thus effected the rest of us in lower tax brackets negatively-higher prices) or they have to fire workers (still us poorer kids), neither of which will help improve the crapbag of an economy we have today.
    Your Economist/finance scholar goddaughter! :)

  5. Well Chelsea I do value your knowledge on this all…. But I guess my pea brain can not seem to grasp this concept. It seems really sad that 2% of our population controls the economy and the rest of our fates.
    I thought “the masses” have buying power. If we aren’t able to afford goods and services then there is no need for a certain small business.
    As an artist, wouldn’t I want to sell 5000 paintings for $100 making $500,000 and making 5000 people happy rather than sell one painting for $500,000 to some wealthy person? If I sold 5000 painting I would have to hire help and provide employment to a few other people. (this probably is a silly example and I should just stick to what I know, cancer research).
    It just seems like "all our eggs" shouldn't be in "one basket".. i.e. the top 2% wealthiest.