Most experts say no. The Obama administration may be considering a middle class tax cut, something almost every economist recommended at the beginning of the financial crisis in early 2009. What we ending up with, was a $900 billion stimulus that failed.
Now that Democrats are facing a slaughter in November, the Obama administration may be singing a different tune. Rumor has it, a tax cut could be on the way in the form of a payroll tax rate reduction. This has many wondering what the President is going to do about the expiring Bush tax cuts.
The Bush tax cuts mostly benefit large businesses and corporations making over $250,000 a year. Some of the biggest corporations in America, who also employee a majority of the workforce are waiting to see if they will have to pay higher taxes next year. If the Bush tax cuts are allowed to expire, many businesses will cutback hiring and spending to offset the increase in taxes.
In this case, would a middle class tax cut really help our economy? The answer quite frankly is, who knows. Democrats are trying anything they can to try and retain as many seats in congress as they can. The opposition to President Obama’s policies and domestic programs is growing, while the elections are only 60 days away. The President’s poll numbers have consistently fallen since he took office in 2009. Obama’s favorability rating is currently 41 percent, down from 68 percent in January 2009.
The only hope this President has of salvaging his administration would be a complete change of policy. The excessive spending and entitlement programs implemented by this administration have been rejected by a majority of the American people. A middle class tax cut will not change the fact that the people want real change in Washington.
Author: Cityclix.net Staff Writer
Left with nowhere to turn, the democratic party has resolved to bashing any voter who may disagree with their beliefs. The recent New York mosque controversy is a prime example of just how far democrats are willing to go in their quest to silence the majority in America and mandate tolerance.
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