Democrats fail to extend Bush era tax cuts before leaving to go back home. The big news from the mainstream media, seems to be that Obama wanted them only for the middle class. The problem is, however, that the middle class for the most part doesn't create jobs. With unemployment still around 10% nationwide, creation of jobs is what the middle class seems to want more than anything.
The Democrats will try to blame the Republicans if nothing gets done by January 2011, but, they will fail to mention that they had control of both houses and failed to extend the cuts. The truth is that over 30 democrats signed a letter to the house speaker, Nancy Pelosi, they wouldn't support any legislation that raised taxes on anyone. I have yet to hear any of the media ask President Obama about the lack of support from members of his own party.
The sad fact is, they are trying the same old game of class envy to advance their political agenda. This year, it is coming at the expense of the unemployed.
They think that the public is some how going to believe that things will get better if we just give it more time and give them more money to spend. The fact is the only thing getting better is the hope of finding a job working for the government. If you look at the facts, the public sector is growing faster than the private sectors. There is an inherent problem with this, it takes private sector money to support the public sector jobs. The government doesn't create wealth, wealth comes from the private companies. When the government adds jobs, it must collect more money to pay it's employees.
This gets me back to the tax cut extensions. There is trillions of dollars sitting on the sidelines of private business. Right now, the uncertainty of the what the future may bring, has many business men sitting on their reserve cash looking for clear answers as to what future cost are going to be.
With possible tax increases coming in January 2011, the unclear cost of what the Democrats Health Care plan will do to the bottom line, it is no wonder that every one is on the sidelines.
I have talked to several business owners, the main theme seems to be, "just tell me what it's going to cost! If I have a number to project future expenses, I can plan accordingly." With no way to tell what is going to happen, most business people are unwilling to take a chance that thing will actually be any better in the near future. If the Bush era taxes are not extended, that may mean possible more job cuts, rather than new hires according to most people I talked to. They say, "If my expenses to pay for health care go up due to the new Obama plan and taxes go up as well, we will be forced to cut staff. If we are not making more money in this economic environment, we simply can't afford the added cost." This will in turn, ad to the already high unemployment numbers and we could face a year in 2011 far worse than the past two.
So, if you are working for a small or mid-sized company, it may be in your best interest to contact your local representative and pass along your feeling about whats going on in congress. The Democrats controlled both houses and the Presidency, and could have done something, if they had wanted too. The elections are coming closer, it is up to you to decide if they have worked for you or themselves. Maybe, it's time to take the credit card away from these people and make them start looking at the bottom line. The bottom line? IT'S OUR MONEY NOT THEIRS! The more they take, the less we have, they can't give something that they don't first take.CQ's Politics in America 2010: The 111th Congress this book covers all of the votes, how your member of congress voted and what happened in congress. Find the truth, don't let them lie and say I did or didn't vote for something.