Honorable President Obama and Honorable Congressman Boehner, I am calling on you and your fellow Republicans and Democrats to end the Bush Tax Cuts for the wealthy.
Where are all the jobs the rich are and have been supposedly creating with their tax breaks? They’ve had these Tax Cuts a very long time now. The “Trickle Down” mentality has been going on for too long. Our economy has been a “House of Cards” and Tax Breaks for the rich have only succeeded in making the rich "richer".
Due to easy credit, the majority of the population has been living on credit with no real money. The Credit hemorrhage has been happening since the late 60's when credit became readily available and has been on going for four decades. (The crash of '29 is also linked to living on too much credit, albeit only one of the variables.) Inflation of products and Necessities began in the late 70’s. The norm became overspending on consumer products, while also paying too much for housing, food, insurance and medicine. If credit was not easily available prices could not go so high as “what the traffic will bear” would have been in place. These “Necessities” have also been charged on credit and even the poor have had credit cards.
The rich have grown richer and the poor grew poorer in the past 30 years due to people spending money they don't have. This has given the “Producers of Products” wealth and the majority of the people a false belief that they are rich due to their spending ability and accumulation of "possessions" (while ignoring their debt). It became natural to live in debt so one could live well (beyond their means). There continues to be many Middle Class people who are living on their credit cards every month to make ends meet just for Necessities and eventually they will become the "New Poor". Necessities just cost too much and have been luxuries for too long.
How can you fix this economy that has come to this current state? Currently, the majority of the people can only pay for bare necessities and cannot buy products or even food: The food stamp numbers have had a tremendous rise as well as the poverty and homelessness populations risen over the past 30 years. It does not help the economy to make the Middle Class the Poor Class and the Poor Class, Homeless.
The Middle Class is living from Paycheck to Paycheck. In fact a lot of Middle Class Retirees have moved to Mexico over the past 15 years because they can't afford the basic necessities on their Social Security Benefits and Savings. And, what do you think of the American Migrant Working Class whose homes are Vans? That's another population that continues to rapidly grow. All "The empirical evidence" that I've read and seen (with my own eyes) is that trickle down doesn't work. I believe my own observations and research before I believe a lot of twisted and slanted propaganda.
How do you propose that we extend and pay for unemployment benefits so the 2 million unemployed don't become homeless in three months? To the 7 million who would have lost benefits before the end of next year? This is the "let them eat cake philosophy" and “charge it” mentality that has helped increase the National Debt over the years. There are 34 million people out of work due to the global recession. 60 million people are now in poverty worldwide. Proposing deep cuts to public services, reducing global assistance will continue to make it all much worse.
What is the reason the working people have to bear the brunt, rather than the wealthy? The government employees have taken a pay cut and an example of one dangerous job are those who track illegals crossing the borders at night. It’s been said there is waste in government, but there is also waste on the other side. What is the reasoning that a corporation needs five private jets and why does the CEO need six houses, a yacht and several cars? There is too much waste and everything is out of balance, including nature due to excessive pollution.
I ask again, where are all those jobs the wealthy tax cuts have generated?
This economy is not going to be “repaired” in a year when we will face these issues again. And in 2012 this economy might (hopefully) improve somewhat, however it will take many more years to become stable. I can’t see improvement happening when the majority pays too much for necessities and is unable to purchase much else. In the meantime the National Debt is on the back burner and will increase. We’re losing time and revenue that is desperately needed for public services for the people.