American Gadfly

Commentary, Critique, and Insight on Contemporary America

Wednesday, August 23, 2006

Mantra for the tax cutting crowd

Those few remaining staunch Bush supporters and others from the tax cutting crowd like to tout the supposed benefits of cutting taxes - more money in people's pockets (the richer you are, the more money that seems to appear in Republican tax cuts), and supposed economic stimulus that might ensue.
I have a mantra I would like everyone with such beliefs to repeat - there is no such thing as a tax cut in a time of record deficit spending. Whatever tax cuts Bush has enacted are not real. They are only an avoidance of the inevitable. We are passing on to our kids and future generations a massive debt burden. The tax cuts Bush has implemented only put off the day of reckoning for such massive debts further in the future. It is like a bank giving you a minimum payment break on your credit card bill, while your balance keeps growing with interest.
I suppose I should not be complaining. My spouse and I have a combined income of around $250,000 per year. The Bush tax cuts have meant more money in my pocket, so why should I care what happens to our future? I have a child, for one. As I watch him growing and understanding more, should I explain to him that my selfish desire to minimize my taxes today and indifference towards a fiscally responsible government will mean massive tax increases in the future for him?
I hope the so-called conservatives who back Bush will wake up to the nightmare they are creating. Cutting taxes and increasing spending is the worst form of Cut and Run politics. Eventually, someone will have to pay the piper.

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