TWO DIAMETRICALLY OPPOSED PLANS.
Which of the two must be the right one?
The plan that the Republicans in the United States Congress for the country's down economy is old and worn out; and that is lowering taxes for all Americans and ignoring the deficit reduction that will come from a better plan proposed by President Barack Obama and the Democrats.
One is for saving the Bush tax breaks for all, which is the Republican idea, and the other is to lower taxes for the middle class, and to get high earning families and individuals, making over $250,000 a year, to make up for the difference. That is the Democratic posture.
The Republican plan is shown in what happened with a legislation that passed the U.S. House of Representatives, which is at variance with one sponsored by the Democrats, by 256 to 171 votes in the Republican controlled House.
In an article on CNN front pace at its website, the writer contends that there is a deliberate action on the majority side in the House to stall what is looked on as a solution to the fiscal crisis confronting the nation.
"Republicans seeking to shrink the size of government oppose any higher taxes and argue the Democratic plan of allowing rates to increase on higher-income Americans will stunt economic growth." (CNN, 8/02/12)
However, how about the deficit and spending, which are causing the real damage to the economy? Shouldn't a way be found to deal with those pertinent issues?
The Democratic version of the tax cuts measure deals with the problems that are assailing the economy and even farther, with helping small business owners for them to be able to hire more out-of-work Americans.
"Democrats contend Republicans are holding hostage tax breaks for the middle class -- including 97% of small business owners -- in order to keep lower tax rates for 2% of American taxpayers earning in excess of the $250,000 threshold." says the same article.
To be fair with the Republicans, there must not be a tax hike on any one in any economic strained situation, as that will hurt its (economy's) recovery. However, the Bush era tax breaks have served a section of the population, meaning the wealthy, and they are about to end; and that will increase the revenue that the Obama administration needs for the deficit reduction.
Therefore they, the wealthy, can afford to forgo the rest of those tax breaks that they have enjoyed since 2001 and beyond.
Those tax breaks have made the economy to go soar, and many people will agree that they must come to a close in order for the slow recovery to pick up speed and to build enough momentum to counteract the high unemployment rate standing at 8.2%.
The similarity between the Republican plan and what Mitt Romney, the presumptive candidate to stand for the party in the 2012 presidential election, intends to do cannot be denied, as tax cuts will become more rampant for high income earning Americans to increase their investment activities.
Trade regulations will be removed, and a free market atmosphere will favor corporations and big companies for them to "create jobs". Yet, that has been tried before and it has always led to economic prosperity for only a few, while the majority of the people struggled.
A new plan that will be fair and equitable is required for the future benefit of the all Americans, where all corporations, banks and big companies are held accountable for their part in the economy; with investment capital being moved around uncontrollably to profit the portfolios of greedy investors and their kind to stop.
One to stabilize the economy for unemployment rate to remain low, than one that will cause a meltdown from time to time to interfere with the lives of, especially the middle class, for a better standard of living, than as it (middle class) and the working people in this country are experiencing now.
Obama and the Democrats realize that the free enterprise system formed the basis of the economy, and they will do nothing to harm it; but a system without adequate controls to monitor its movements is not one the country must adhere to.
Off-shore banking systems must be regulated for enough money to stay in the country. Corporate capital interests and profits, made here and from abroad, must be taxed sufficiently to prevent the kind of shady business that will bring about an economic disaster, as one that is now common place and making many Americans to suffer needlessly.
The differences between the two plans are been made very clear, with the Republicans advocating for the continuance of the "old" Reagan-ite system, whilst Obama and the Democrats are saying America must try something new.
Obama's support for "un-traditional marriage" has annoyed many people, who think that he has morally let them down; but his ideas outweigh those that are being fomented by the Mitt Romney camp.
The only advice will be for him to leave American values alone, and that marriage is a cultural issue and not a political one; and if he can do that, he will be a great success to all Americans.