Our View: Tax cuts for the wealthy must go

DKS Editors

It’s pretty clear to most people with half a brain that the Bush tax cuts? simply didn’t work.

Now that the tax cuts are set to expire Dec. 31, Congress is tackling the? issue. On Wednesday, Republicans went behind closed doors for back-room? deals with Obama administration officials, but House Democrats may hold a? vote before they come to an agreement.

While President Obama has agreed to negotiate with Republicans, it took both? teams two hours to reach an agreement Wednesday morning to continue? negotiations. Forgive us for not being confident negations will actually? work, but it doesn’t appear the country is in a very bi-partisan mood these? days.

The tax cuts drove down government revenue right before Republicans decided? they wanted to invade other countries and pay for Iraqi infrastructure. And? now, they want to extend them for the wealthiest of Americans, which doesn’t? make sense.

?The tax cuts didn’t work, and anyone who tells you otherwise has obviously? been watching too much Bill O’Reilly. We support Democratic proposals that? would extend tax cuts for individuals making less than $200,000, and for? couples who make less than $250,000, which happens to be the vast majority? of us.

The non-partisan Congressional Budget Office says that extending the tax? cuts for the rich will do very little to stimulate the economy. Because the? tax cuts go to the wealthiest Americans, they don’t spend as much of their?income than the rest of us would.

?But hey, maybe the experts are wrong and Rush Limbaugh is right. It could? happen.

?Still, there is no denying that Republicans really screwed our economy, and? these tax cuts played a major role in that. If Republicans are serious about? reducing the deficits, they will agree that the Bush tax cuts for the? wealthy must go, and the middle class tax cuts must stay.

The above editorial is the consensus opinion of the Daily Kent Stater editorial board.