With all the talk about extending the Bush tax cuts, I can't help but to keep coming back to the same idea: Let the timebomb tax explode.
Huh? Well, Bushie and the Republicans created a tax cut that was also a tax increase with a ticking clock. Ten years out? Boom! Tax increase.
And Obama and the Dems are cowering because they don't want to get blamed for the tax explosion. But... that's exactly how the taxes were written, as a timebomb. Not only were the cuts fiscally irresponsible to begin with, but the end of the cuts was also designed to be irresponsible. And who did it? Republicans.
But Democrats are giving the Republicans a free pass on this irresponsible policy by trying to diffuse the bomb before it can explode, yet another mess that the Republicans left for Democrats to clean up. And Democrats, right out of the gate, are giving up ground in negotations by offering to extend not only the portion on middle-class tax payers permanently, but also temporarily extending the tax cuts on income over $250,000. That's just setting another timebomb tax increase for another few years out!
The Republicans smell the fear that the Democrats are exuding and are not about to take the first offer. They are gratefully accepting this gift by saying no, we want it all, tick tock tick tock. They want the taxes to either all be extended temporarily (TIME BOMB!) or all extended permanently (DEFICIT BOMB!). All the while, Republicans are beating the Democrats mercilessly for... drum role please... being fiscally irresponsible. So, the choices Republicans are offering are either another tax increase timebomb or an immediate deficit bomb... take your pick, Democrats! Mmmmwwwaahahahahahaha. Sinister grin, thunder crashing.
But it's time for President Obama to be honest with the Americans. Republicans set a timebomb tax increase and now they won't help turn it off. Republicans have the wire clippers but won't use them. Republicans' timebomb tax increase threatens our economy. Republicans' timebomb tax increase will kill jobs. And the only alternative the Republicans are offering is to reset the timer on the bomb so they can keep extorting the American people or explode the deficit.
The President has a plan to keep taxes the same on the first $250,000 for ALL tax payers. No more timebombs. Better for the deficit. Good policy, one would think. The Republicans just need to step up and clip the red wire. But they won't. Because they want fiscally irresponsible tax cuts for income over $250,000.
So, the choice is clear... which option do you like best? Take the poll...