I listened to an interview with David Stockman, the architect of Reagan’s economic policy, on 60 Minutes and This Week. He said there is great folly at extending the Bush tax cuts for any of us because it’s not paid for. He recommends that if all the Bush tax cuts were allowed to expire, that action would close the budget deficit and put this country on a sound fiscal footing.
Reducing our deficit would also allow the government to perform needed functions like sending out Social Security checks, providing for air traffic safety and giving our troops safe and effective equipment, government functions that few would deny. We should all be able to agree upon this responsible action. During World War II, all Americans shared the sacrifice for our country at war. They rationed gas and food and everyone was subject to the draft. We need that same sense of shared sacrifice because we have millions out of work, out of homes and have troops fighting in two wars.
Middle-income people who have jobs and taxable income will probably not even notice their income change because so many will be doing the same. People of wealth, whose lowered taxes over the past 10 years have not resulted in job creation, can afford to pay more.
Let’s encourage our local representatives to push Obama to allow ALL the Bush tax cuts to expire and bring us together in a shared sacrifice for the country we all love.
Cathy Ferbrache-Garrand, Bothell