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The president’s deficit commission has given us advanced notice of their findings to reduce our national deficit.
Big hits on Social Security. One wonders why, given that removing the cap would solve the problem for the next 75 years. However, removing the cap would be a tax increase on the well-to-do, so instead the commission recommends lowering the top income tax rate to 23 percent.
Say what? Twenty-three percent! I know, I know, so they can create the jobs they have failed to create over the past 10 years. Tax cuts don’t create jobs, demand creates jobs and if we continue to shift money from the middle class there will continue to be little demand. Does anyone see a trend here to make the middle class sacrifice instead of the upper class? I certainly do.
But perhaps the leadership of the commission is recommending taking two loaves, while the commission final report will only recommend taking one loaf. That way we will be so relieved, and accepting they are only taking one loaf. A one loaf that will still be devastating — simply stated, the obese telling the starved to go on a diet.
It’s strange Republicans so concerned about the deficit see nothing wrong in extending the Bush tax cuts, which will add $700 billion to our deficit. Sen. DeMint is now saying Republicans are willing to compromise as long as President Obama agrees largely on their terms. Seems logical to me — they will compromise if the president agrees to what they want.
Are we living in crazy land, or is it just me?
JAMES E. LONGHOFER