The Bush Tax Cuts expire this year, and it's become a very controversial subject.
It's been estimated that if the tax cuts for the wealthy are allowed to expire, and the Top Marginal Tax Rate goes up to 40%, that it could reduce the National Debt by approximately 1.3 Trillion dollars over the next 10 years.
Most Democrats want the Bush Tax Cuts to expire. They also want the top marginal tax rate to go back to 40% for the wealthiest Americans, the same rate it was at during the Clinton Administration. Most Democrats argue that raising taxes on the wealthy is one of the best ways to reduce the National Debt. Most Republicans say this is a redistribution of wealth, or socialism.
Most Republicans want the tax cuts to be extended because they say that cutting taxes for the wealthy is the best way to create jobs. They believe that the tax cuts have helped our economy since first enacted in 2001.
Most Republicans and Conservatives argue that cutting taxes for the wealthy is the best way to create jobs and stimulate the economy.
Most Democrats say these are the same failed policies that cause the largest recession since the Great Depression.
Here's just a short list of some of the bills that Republicans have blocked, or attempted to block, since Obama became President:
Senator Franken’s Anti-Rape Amendment to the Defense Appropriations Bill
Benefits for Homeless Veterans
Health Care for the 9/11 First Responders who got sick from being at Ground Zero
The Jobs Bill
MURRAY'S HOMELESS WOMEN VETERANS BILL
Small business lending bill
Oil Spill Liability
Political Ad disclosure bill
Windfall Oil profits tax bill
Fair Pay Act of 2009
How do you feel about the Republicans blocking vital legislation? Do you think it's time the Republicans cared more about helping the American people than causing Obama to fail?
President Barack Obama traveled to Detroit to show exactly what his policies have done for the auto industry and our economy consequently. He talked about his reports that the auto industry is seeing record profits once again, the largest since 1999. Not only that, but President Obama talked about his new plan to invest 4 billion dollars in natural gas vehicles, along with 400 million in electric vehicles.
So how has the auto industry grown?
* Ford announced a 2.6 billion dollar profit for second quarter, GM with 865 million in its first, and Chrysler with 143 million.
* Exports have increased by 57%, including a significant rise to sales in China.
* Investing has grown as optimism of the future remains in tact.
So how exactly has the auto industry helped our economy?
* 9 of 11 GM assembly plants are working through the summer shutdown to meet demands
* GM, Ford and Chrysler's growth is resulting in 5300 new jobs for Americans
But what about paying back the taxpayers?
* GM repaid their 6.7 billion dollar loan back in April.
* Chrysler paid 1.9 billion back to the treasury that they received from TARP and 1.5 that they received for support.
* The supplier support system was cut, giving back 5 billion dollars to the public.
So, what does this say about the decision this administration made for bailouts?
The republican party sure has had a lot to say about the Democrat agenda since President Obama took office, but they have not set forth a new plan yet if they were to take control of Congress. The ideas they are focused on are:
1. Creating incentives for new jobs
2. Cutting federal spending
3. Cleaning up Congress
These are all good ideas, but there is one problem: They have not released ANY specifics on how they are going to do this. The Democratic party has been targeting this large hole in the campaign of Republicans, and so far, there has been no answer.
What do you think? The Republicans seem to have fueling support off picking at the Obama administration and promising results without any kind of tactics. Do the America people really not care about having a certain path, as long as its not the current path? This seems like it will not hold its weight come time to vote.
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