John Boehner, Majority Whip and Leader of Congressional Republicans, calls middle class tax cuts "chicken crap"!
Virtually all of us agree that there should be an extension of tax cuts for small businesses and individuals earning less than $250,000. The question is should we tax the super wealthy or continue giving them a tax holiday?
Since our nation is in hock for $14 trillion dollars, perhaps it’s time to tax the wealthy. By taxing the wealthy, we will only impose an additional tax of 4.6% on their incomes, increasing the highest marginal tax rate from 35% to 39.6%: hardly a bankrupting scenario for those making millions of dollars every year. And perhaps they should pay more in taxes, since are not those multinational corporations—primarily owned by the super wealthy—responsible for exporting all of those jobs to China and laying off millions of American workers?
Maybe a suitable compromise would be to extend the Bush tax cuts to those making less than $500,000 per year….But I do not feel any sympathy for those earning millions of dollars every year. Did they feel any sympathy for all those Americans laid off over the past few years? And we all know by now that giving the wealthy a tax break doesn’t create more jobs here in the USA…maybe in China, but not here!
John Boehner, the Majority Whip leading the Republicans in Congress, called the middle class tax cuts for those making $250,000 or less, “chicken crap”, even though the Democratic proposal would maintain the current tax rates for 98% of Americans, while letting the rates of the top 2% return to their pre-Bush rates. Apparently the Senate Republicans won’t vote for these middle class tax cuts unless the super wealthy, whom Boehner and other Republicans seem to primarily represent, are included in these tax cuts. But if the wealthy, who certainly can afford to pay their taxes, are included in these tax cuts, it will increase our national debt by $140 billion over the next two years. Soon our country will be following Ireland and Italy into bankruptcy and receivorship.
John Boehner, those middle class tax cuts are not chicken crap. Ask the middle class taxpayers.
The Barefoot Accountant—is a Certified Public Accountant, Certified QuickBooks ProAdvisor, operating an accounting, tax, and QuickBooks consulting firm in Berlin, Connecticut, Accountants CPA Hartford, Connecticut, LLC. Bill has instructed graduate and undergraduate courses in Accounting, Auditing, and other subjects at the University of Hartford, Central Connecticut State University, Hartford State Technical College, and Purdue University. He also taught GMAT and CPA Exam Review Classes at the Stanley H. Kaplan Educational Center and at Person-Wolinsky, and is certified to teach trade-related subjects at Connecticut Vocational Technical Schools. His articles on tax and accounting have been published in several professional journals as well as on several accounting websites. William was born and raised in New Britain, Connecticut, and served on the City's Board of Finance and Taxation as well as its City Plan Commission. Bill is a crazed animal lover, feeding birds, squirrels, chipmunks, skunks, possums, stray cats, and any two-legged or four-legged critter traversing through his yard. His backyard in Berlin, Connecticut has been certified as a habitat suitable for wildlife by the National Wildlife Federation.
Bill also writes an Accounting, QuickBooks, and Tax blog: Accounting, QuickBooks, and Taxes by the Barefoot Accountant. For entertaining articles, please see his listing at The Amazing Brighenti.