Myths About Tax Cuts

The average family which earns $40,000 a year will receive $800 under the tax cut plan agreed to by President Obama with Republicans. That equals about $75 a month, give or take a few dollars. Of course, most reading these words will witness an increase in medical insurance costs because we are still at the mercy of private medical insurance companies whose overhead is 16% compared to the 4% that it takes to administer Medicare. So, we get $75 a month and a wealthy person will garner $25,000 and up from their current income. It is fair, after all, they have company paid medical insurance, and they get to eat lunch free as part of a “business expense” item. Sorry, I forgot the free enterprise doctrine of the Republican party. These wealthy people will rush out to invest in new companies and create jobs. Of course they will, just as they have been doing the past two years. Ah, the myth of benevolent wealthy capitalists whose only thought is the welfare of the American people. In fact, they are so concerned that sometime this month Wall Street types will be rewarded from bonus packages that range over $150 BILLION.

We Americans got screwed. We got screwed by the Republican Party and a president who refuses to fight back. Oh, if you live in New York City, Metro card rates go up $30 a month so you really did not get an extra $75 a month, did you?