I have to agree with last week’s letter writer: it was not Obama’s out of control spending and raising the debt limit but the enormous tax cuts that ballooned the deficit and forced Americans to incur more national debt.
It was not Obama’s investing in companies like Solyndra which only received a little over $500 million of taxpayers money then went out of business, I am sure, had nothing to do with raising the national debt it was the tax cuts.
The IRS also backs up the claim tax cut favored the wealthy. The IRS reports show’s the top 25% of wage earners only pay 85.6% of all the taxes collected what is really sad the report also shows that the top 50% only pay 97% of all the taxes collected. So as usually the case the bottom 50% of wage earners have to carry the burden and do so by paying 3% of all the tax that is collected. The IRS report must be wrong after all when looking at past years every time taxes were cut more people paying taxes also increased. It is strange when a company gets to keep more of its earnings they either hire more people, increase the wages of those working, or cut the cost of their product which increase sales either way more tax money is collected Once again proving tax cuts and not Obama spending more money than taxes collected is the cause of the increase in the national debt
Tax cuts are a bad thing because they do allow companies to hire more help which allows more people to pay taxes because they are working and also because they have jobs they tend to buy other companies products which then forces that company to hire more help to produce addiontal product to meet the increase in demand which creates more tax payers and also in time causes a reduction in unemployment to down around 4% to say 6% something Obama can not afford to happen. Why can’t Obama allow that to happen? You ask. Because less people will then be on the government welfare program which gives them the free stuff (cell phones and etc.) which causes a reduction of the national debt. Oh I forgot it is the tax cuts that cause the national debt to rise, not an increase of people on welfare, or the excess spending of Obama on things like his wonderful programs such as Obama care. I am also sure Obama only spending $18 million of taxpayers money on vacations he and his family have taken so far or Michelle Obama’s $12,000 dinner dress which cost more than the annual poverty level in the US, or the $1,591,200 paid annually for the First Lady’s 22 member personal staff, also has nothing to do with the rise in the national debt. Yes it all the fault of the enormous tax cuts.
Another reason the tax cuts are at fault is because when you spend $1.8 billion on travel expenses as we have for Obama and his family surely could not in any way have an effect on the national debt.
Tax cuts are always bad because people just love paying more in taxes and having less of their own money to spend on their wants and needs.
Duane Rasey, Mount Gilead