Bush Tax Cuts, Unemployment Benefits and National Deficit

By Padmini Arhant

The 111th Congress with Democrats still in control of the House and Senate is challenged by the White House capitulation to the Republican unsustainable deal on Bush tax cuts.

Fortunately the House passed the bill per initial democratic plan - allowing tax cuts to the wealthy expire and granting permanent tax cuts to the families with income $250,000 and below.

There are different proposals from the majority and the minority in Congress.

Republican members unanimously dedicated to the top 2% wealthy Americans getting wealthier at the rest of America’s expense pushed tax cuts extension for the multimillionaires while disregarding their irresponsible claim’s devastating impact on the ballooning deficit – the primary political slogan that enabled Republican victory in the recent mid-term election.

Unlike the Republican minority, the Democrat majority are divided on this issue.

The Senate Democrats have laid few options – Some favor the House version which is the initial Democratic strategy outlined above. It is unequivocally a pragmatic solution to the status quo.

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Thank you.

Padmini Arhant

Political Irony in Republican Congress Victory

By Padmini Arhant

Bush Tax cuts Expiration and Preserving Social Security – The Republican members’ opposition to this issue is no surprise considering the campaign financing received during the November 2010 election.

However, should the consequences be the struggling majority bear the burden of the privilege to the top 1% in the society?

The earlier proposal offering permanent tax reduction to middle income families earning $250,000 or less and subjecting those earning more to the progressive tax structure on the residual income adequately meets the requirements in income distribution and deriving national revenue that could perhaps be applied to deficit reduction.

In fact, by passing the above prudent measure the Congressional members would be relieving the tax payers across the board from excess taxation and allow voluntary economic stimulus through consumer spending.

The Republican members’ gridlock in this legislation would derail the needful tax breaks to all deserving taxpayers in the tough economic times.

Remaining article...contd.@www.padminiarhant.com

Thank you.

Padmini Arhant