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Edited on Mon Sep-13-10 11:09 PM by w8liftinglady
Please evaluate for spelling,grammar and content before I publish....Thanks.
I have read with sad curiosity comments by elected officials on renewal of the Tax Relief Bills of 2001 and 2003.Before making a decision on this,we-as those the elected officials supposedly represent-must educate ourselves on the circumstances and results.
The Tax Cut of 2001 (Economic Growth and Tax Reconciliation Act) was intended to relieve the Recession of 2001 by stimulating spending and encouraging saving.It favored largely those making over $200,000/year,and resulted in a $1.75 trillion dollar tax cut.Shortly after passage,the tragedy of 09/11 occurred,and the needs of the nation dramatically changed.Wars were declared in Iraq and Afghanistan.At that point,the bill should have been repealed.Instead,The Tax Relief Bill of 2003 was passed,again favoring those making over $200,000/year.It was estimated to be a $500 billion dollar tax cut.
To date,the cost of War in Iraq and Afghanistan has been $1.079 trillion dollars.This does not count the Veterans Administration costs.The War in Afghanistan is escalating,and the "war" in Iraq has stabilized with "only" 50,000 troops assigned.It's not all bad news,though.Corporations are making a killing(no pun intended) thanks to our troops.
Since 2001,the U.S. has lost 5.5 million manufacturing jobs. Since 2001, over 42,400 factories have closed in the U.S., and another 90,000 are considered at severe risk of closing. The reason behind this is drastically increased outsourcing of American jobs to other countries.More and more "white-collar" employees are beginning to see their jobs outsourced as well.At the same time,CEOs of these same companies have seen their salaries rise and tax rates lower.
These are two examples of how the "Tax Cuts" have benefited Americans.98 per cent of Americans are in dire straits.Two per cent of Americans are doing great.As we enter a new decade of war,do you want to see reduced Tax breaks for the top two percent continue?As employment worsens,do you want to see America devolve into a Third-World nation?Support continuation of these tax breaks,and you may take credit for the unraveling of America as we knew it.Thanks a lot.
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