In 2003, the George W. Bush Tax Bill was passed by both houses of Congress. The deal was this: A small tax break for the middle-class (i.e. working class), and a huge tax restructure for the millionaires and billionaires. The argument was, and it made some sense, that the very rich would take this extra money, retool their factories, remarket their products, and help start a whole bunch of new jobs. This all occurred six years before Barack Obama took office. So we have to ask the question … what happened to the money, and what happened to the jobs it was supposed to bring?
We know it made the profit picture better for some corporations. We know that some corporate executives got tremendously large bonuses, and we know many of the new jobs were scattered all over the world. Not here in the good old USA.
Now, the same tax bill is being put up for a re-do before Congress. The argument is the same as 2003. Do not tax the very rich because they need the money to have new start-ups and to hire new people. Isn’t this the same argument we heard in 2003? Again, it begs the question … where are the new jobs?
In the meantime, the country is hard-strapped for money and the very rich have put a lot of their money into off-shore banks and programs that are dodging the tax man.
America has a Constitution that in part was put together so the government could tax the citizens and take care of their fiscal responsibilities. It isn't right, and it is hurting the country, that the richest among us are not carrying their fair share of tax responsibility.
Wake up, America, before it’s too late to save this country.
Ronn Mott, a longtime radio personality in Terre Haute, writes commentaries for the Tribune-Star. His pieces are published online Tuesday and Thursday on Tribstar.com, and in the print and online editions on Saturday.
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RONN MOTT: Politics and Taxes
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