Showing posts with label George W. Bush. Show all posts
Showing posts with label George W. Bush. Show all posts

Wednesday, December 15, 2010

Why George Bush Must Be Smiling.

I was going through the news sites tonite and something on CNN.com caught my eye. The headline read "Why George W. Bush must be smiling". I thought how odd that was. Usually, President Bush is getting trashed.

The author writes in his article how the ex-president must really be enjoying all the hoopla over the current tax debates. Knowing his tax cuts are surviving his presidency; he deservedly should feel proud.

Though President Obama ran on a platform of change, not much has changed. Most of Bush's policies are living on. Most of his counter terrorism policies have survived. The expanded off shore drilling are continuing. Afghanistan is still in the forefront overseas and has expanded.

But mostly the current tax rates will be continuing. Obama knows that they are inevitable, so why not just go along and put a little of his own flavor on them.

For a presidents decisions to live on in further administrations is not an unheard of event. Take F.D.R.'s social security. Lyndon Johnson had Medicare. So also, Barack Obama will have health care.

The decision to leave the tax rates as is and not raise them makes sense for the hard times we are in. If taxes were raised, the backlash would be tremendous. Just revisit the question in two years and then make the decision. Better yet, just keep the rates as is and cut the budget by 10%. But that's another post altogether.

Old George W. Bush hasn't said much since leaving office and basically I like it that way. But as time goes on, we are seeing the good things he accomplished for the country, bear fruit. The democrat that replaced him has basically  accepted many of his policies. Keep smiling George, you did good.

Thursday, September 2, 2010

The Bush Tax Cuts

Official photograph portrait of former U.S. Pr...Image via Wikipedia
There is alot of rumbling about the Bush Tax Cuts coming to an end this year. President Obama has been saying he wants the tax cuts to end for the rich but stay for the middle class. 
 
Senate Democrats don't have the votes to pass the Obama tax increases, according to the web site money.cnn.com. Even Democrats know it's a bad time to raise taxes in a faltering economy. 
 
They claim they'd favor a temporary extension for a year or 18 months. Some democrats even want to make the tax cuts permanant. Their theory is that second quarter GDP expanded at only 1.6 percent annual rate for the second quarter. So its not the right time yet.
 
In the Senate the votes are just not there to pass the Obama tax increase. But in the House Obama has the votes to pass his bill. September 13 the Senates recess is over and debate will start over the Obama tax bill. The senate has more deficit hawks than the House and with the Republicans it will be hard to make any quick progress. 
 
Senate Budget Chairman Kent Conrad, D-N.D. said last month he would be reluctant to let anyone's tax cuts expire just yet. He went on to say,"In a perfect world, I would not be cutting spending or raising taxes for the next 18 months to two years. " also that "The downturn is still very much with us". 
 
I disagree with the raising of taxes. Our representatives still don't have a clue how their spending and over taxation is one of our greatest problems. Having stability of the tax rates is important to business and personal planning. Also the Estate tax being brought back is unfair to family's. A lifetime of work has to be double taxed and family wealth has to be stolen from heirs is a disgrace. 
 
Further, I would like to see an across the board 10% reduction in the Federal budget. Just like my budget spending has been reduced in these recessionary times. I have had to increase my work extra to fill some income shortfalls. The government should be run like we run our home finances.



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