Solution to Tax Problem
Argument for Keeping Tax Rate
It would seem that the hot topic for today in politics is what should be done about the upcoming tax increase. The conservative news media insists that all we are talking about is leaving the taxes the same as they have been for the past 10 years. These talk show hosts insist that if the tax cuts are allowed to expire, then it will cause jobs not be created. There is only one problem with this thinking. If this is what is causing jobs not to available, then how could we have lost the jobs over the last 10 years with this tax policy. This is an illogical argument as to why we should keep the tax breaks in place.
Since the Republicans keep talking about we do not need to increase taxes on the wealthy, maybe we shouldn't increase the taxes for anyone.
Argument for Raising Taxes
The liberal media argues that we can save $700 million dollars by raising taxes to pre taxcut days on the wealthiest in America or those making over $250,000 per year. This means that we can pay down the deficit faster because we will have more money. If we cannot pay down the debt then we would have more money for other government programs.
The Compromise for Tax Extension
I am by no means an expert in the field of taxes. However I do know what makes since if two sides are in disagreement about an issue. There needs to be a compromise that both sides can be comfortable with.
Since the conservatives, Republicans and Tea Party wants to keep the taxes for those making over $250,000 then let them. However this should only be temporary to see if jobs are created because the taxes are the same as they have been for the past 10 years. If jobs are being created then the people creating the jobs must be making money or there would be no need to hire workers.
Since the Democrats and liberals want to keep the tax breaks for those making $250,000 or less I assume they will have no objection to the rates being lowered further for these individuals.. If the rates are lowered even further for those in this category, then it becomes a win/win situation for all Americans.
If those making $250,000 or less have more disposable income, they will purchase more goods and services from those who create jobs who are also the wealthiest or small business owners.. While I am not an expert, the one thing I did learn about was the law of supply and demand. If there is a demand for the goods or services, then more jobs will be created.