In Defense of keeping The Bush Tax Cuts

The way the media portrays the Bush tax cuts you'd think that only the richie riches of the earth would be affected. Or so I thought until I talked to my former editor at the paper I used to work for. He told me that if the tax cuts expire he stands to lose a fortune in taxes. As he is not a right wing nutbag (although he is an unhappy Republican), I decided to look into it to see what he was talking about. Come to find out that everybody is affected by these tax cuts from the poor to the rich. Not a good idea during a Depression to raise taxes unless you want things to get far far worse. For example the lowest tax bracket would rise from 10% to 15%, not an inconsiderate amount. For all of us self employed or on unemployment, this would be a greater burden than some would be able to process. The death tax, of which I support to a certain extent, would tax at 55% all estates over 1 million. This is not a large amount and anyone with a couple houses and a good stock portfoloio coiuld easily top this amount. Why are we equally taxing everyone? The rich need to pay more. Period. Cut taxes for the rest of us and raise taxes and those making more than 20 million a year. For those of you crying that capital investment creates jobs I would ask what jobs? They've all been outsourced to India and China. I would propose tax breaks for anyone creating jobs with this so called wealth but the rest I'd make pay through the nose. The richest of this country pay very little in taxes regardless of what you hear, due to generous tax breaks, write offs and loopholes. The middle class is the one getting squeezed hardest and are the ones least able to afford it. The middle class is disappearing and only by keeping the Bush tax cuts alive, at least for those that need it, are we going to get by. The Republicans have always proved to be the party of the wealthy and powerful, while snookering the rest of the hicks with promises they will never keep or appealing to religious nonsense. The tax cuts must stay or else we will head into a real Depression, one that may be coming regardles of what we do at this point.