‘Bush Tax Cuts’ Should Be Renamed, Says Former President
Matt | On 10, Apr 2012
George W. Bush is living in the lap of luxury these days.
He stays pretty much out of politics, save for a few appearances here and there. When he left the White House, he was serious that he was not going to relive his disastrous eight-year presidency.
The former president did make a speech on Tuesday to the New York Historical Society where he addressed the Bush tax cuts and their importance to the economy. In short, he wishes they were named something else because he feels people would be more willing to keep them. Republicans want the tax cuts to stay in place to help “job creators.” Democrats, meanwhile, don’t see the point in giving away more money to people who don’t need it.
I have to side with Democrats using the Republican logic. We simply cannot afford to give away money with $14 trillion in debt as a nation. I’m not saying to never issue tax cuts. But, at some point financial wisdom has to set in. If you cannot afford tax cuts, why continue to push for them?
Whether or not the tax cuts are ushered in under a different name, they still don’t have a permanent place in the U.S. economy. The financial landscape of this country is much different than when Bush was in office running up a sickening war tab coupled with the tax cuts.
What is truly needed is an overhaul of the U.S. tax system as a whole to make it fair for all income-earners.
ANSWER IN THE COMMENTS SECTION BELOW:
Do you see the Bush tax cuts as helpful or hurtful to the U.S. economy?