Jump-start economy

To the Editor:

Have you noticed that liberal establishment spokesmen have been calling the Bush tax cuts “tax cuts for the rich” and almost unanimously opposing them. Now, when they are about to expire, the White House is saying that the expiration of the Bush tax cuts would cause family taxes to jump an additional $2,000. If the Bush tax cuts were merely “tax cuts for the rich,” then how can their expiration hurt poor and middle-class families?

The truth is that the Bush tax cuts helped everyone, but they especially helped the poor and the middle class, according to data from the nonpartisan Congressional Budget Office. To close the budget gap solely by taxing those with incomes more than $250,000, the tax rate would have to be more than 130 percent, an impossibility.

Trends under the current tax structure show that taxes are growing back to historic levels, but that spending is growing much more, predicted to reach more than 25 percent of Gross Domestic Product in less than 10 years. Revenue is not the problem in this country. Spending is.

That’s why I’m so glad I’m going to be represented by Congressman Peter Roskam in the new 6th Congressional District. He understands that the real problem our country faces is Washington’s out-of-control spending. He is an advocate of extending the Bush tax cuts, reforming the tax code to eliminate loopholes and make it fair for all, and for common-sense economic policies that will help jump-start our economy. Keep up the good work, Peter.

Jim Thompson

Crystal Lake

Comments

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Northwest Herald.

More News

Comments

Reader Poll

What's your favorite part of a parade?
Floats
Candy
Kids' enjoyment
Other