Unemployment And The Economy: Show Us The Cuts To Pay For Tax Relief

By William Finch on September 4, 2010, 3:59 pm Posted in Finance News

Rep. Paul Ryan, the well-known Republican congressman from Wisconsin has been challenged by Democrats to find the so-called $700 billion for the cuts, the Republicans think they can find to continue the Bush tax cuts for the top 2% of the population. The Republicans have not been specific in where the cuts are to take place. He believes he knows where they can be found. But where is still the question.

Ryan And Republicans

Congressman Ryan and the Republicans have made it a religious crusade, so to speak, to make sure the wealthiest 2 percent of the population retain their tax cuts. There is not one Republican, or at least one that is of importance to the new Right, that says a tax cut for the wealthy is a detriment. The only one that comes to mind is Mort Zuckerman of the the Daily News and U.S. and World Report.

Tax Extension Funds Must Be Found

According to the original 10 year tax cut, when expired and not continued, funding must be found through cuts elsewhere. This is just a fact. Sen McConnell (R-KY) was recently interviewed. He could not seem to understand that the shortfall of money in discontinuing the tax cuts had to be found somewhere by law.

 

Tax Cuts For The Rich

The amazing thing is that this issue is not going to help Republicans in November. People are voting on the economy and their jobs. They fear further job losses. Of course there are a number of low-information voters who actually lose sleep at night worrying about the rich losing their tax cut. These same people are worried about the decline in the sale of yachts which inevitably will be a result of no tax cut continuation for the rich. By no tax cut it is meant, letting the Bush tax cuts expire.

Related posts:

1. Bush-Era Tax Cuts: Expiring Cuts Could Increase Treasury Revenues
2. Unemployment And The Economy: The Democrats Plan
3. Unemployment And The Economy: Bush Tax Cuts Now On The Table
4. Immigration Reform, Bush Tax Cuts, Gay Rights – Obama Touches It All
5. Bush Tax Cuts: Democrats Now Willing To Consider Compromise

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