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Letter to Editor: Expiration of Bush Tax Cuts

Crystal Lake resident Jim Thompson shares insights about the impending expiration of the Bush tax cuts.

 

Letter to the Editor:

"Have you noticed that liberal establishment spokesmen have been calling the Bush tax cuts “tax cuts for the rich” and almost unanimously opposing them?

Now, when they are about to expire, the White House is saying that the expiration of the Bush tax cuts would cause family taxes to jump an additional $2000. If the Bush tax cuts were merely “tax cuts for the rich,” then how can their expiration hurt the poor and middle-class families?

The truth is that the Bush tax cuts helped everyone, but they especially helped the poor and the middle- class according to data from the non-partisan Congressional Budget Office.

To close the budget gap solely by taxing those over $250,000, the tax rate would have to be over 130% -- an impossibility! Trends under the current tax structure show that taxes are growing back to historic levels but that spending is growing much more, predicted to reach over 25% of Gross Domestic Product in less than ten years.

Revenue is not the problem in this country. Spending is.

That’s why I’m so glad I’m going to be represented by Congressman Peter Roskam in the new Sixth Congressional District. Peter understands that the real problem our country faces is Washington’s out-of-control spending. He is an advocate of extending the Bush tax cuts, reforming the tax code to eliminate loopholes and make it fair for all, and for common-sense economic policies that will help jumpstart our economy.

Keep up the good work, Peter."

Sincerely yours,

Jim Thompson, of Crystal Lake

 

Have an opinion you want to share? Email your Letter to the Editor to Stephanie.price@Patch.com. Please include your full name and hometown.

McCloud December 20, 2012 at 12:40 PM
Great article. Just want one person to help explain to me how raising tax rates, regardless of who, helps grow the economy. I've asked and have yet to be satisfied with an answer.

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