Wednesday, December 15, 2010

For any one who might care the least bit:


The recent extension of the Bush tax cuts and the unemployment benefits just goes to show everything that is wrong with America today.

What do I mean when I make this statement? It's simple, and please bear with me.
We are going through one of the worst "recessions" in our countries history. I put recession in quotes because that is what the government's financial analysts are calling it. If we were in another time we would be calling it a depression.
With the Bush tax cuts about to expire the whole country is in an up roar over making them permanent  or letting them just roll back to what they were before they were lowered. So what happens? A "compromise".
The Republicans agree to extend unemployment benefits to several million unemployed Americans, and some Democrats and the President agreed to extend the Bush tax cuts for two more years.   We think this helps the country? Here is a thought you might not have heard.
First of all what were the reasons we were told that the tax cuts should be implemented to begin with?
The countries economy started to slow down at the time President Bush went around the country convincing everyone that they would be good for us and the country.
 He said things like; the American people need a tax cut; that corporation will take the money and re tool, up grade and modernize and create good high paying jobs here in America. Unfortunately, none of that happened.   What did happen was that the corporations took their money, gave out bonuses, and moved their jobs over seas that helped the Chinese, the Indians and the Mexicans, in other words anyone but Americans. In the mean time this country lost more jobs under the leadership of George Bush then under any other President in recent times. I believe that since the promise of the tax cuts were high paying jobs here in America didn't come true, then the tax cuts should be repealed on that basis alone. We were promised something if something happened. It didn't happen, so why keep the tax cuts? Some would argue that the tax cuts did help some Americans. Are these "some Americans" of the top five percent financially of the country?

That's the first part of why it was bad for our country.

The next part of this sad picture is the fact that since the jobs weren't created by those tax cuts, we now have up to twenty percent of the country(official and unofficial estimates) unemployed or under employed, creating the need for more and more  jobless benefits with a taxable base shrinking.
How do we pay for unemployment benefits while cutting the taxes that could be used to pay for them? Answer: MORE DEFICIT SPENDING!!!!
Also what was agreed to by both sides in Washington was a cut in social security taxes. At a time when we are being told that the sky is falling when it comes to the social security fund running out of money, cutting what people pay into it doesn't help the overall situation, it worsens it. But then again, that is what the so called "conservative movement" has been about these last several decades.They have been trying to repeal any and all vestiges of the "New Deal".
Social Security would be financially  healthy if the government would just put back the money that it "borrowed" from it during the eighties and nineties.

Finally, the name of the blog;
" The Middle Of the Coin".


I believe what we have in Washington are two defunct parties who don't really listen to the American people anymore and haven't for a long time. To me there is very little difference between the two parties and as I have said time and time again, they are just two sides of the same coin. So right now I stand on the thin part of the coin, in the middle so to speak.


Wake up America!

Till next time,
Jess