I agree with the recent letter to the editor from Kirk Tooley. I too find The Leader-Herald's editorials often misleading and lacking in basic factual knowledge about the subject matter being presented.
The Dec. 10 editorial was another attempt to mislead the public about the wonderful benefits of the Bush tax cuts - this coming from a paper that's always railing about the national debt.
Let me give you a quote from the nonpartisan Congressional Budget Office: "There is no single policy we have passed that has added as much to the debt, or that is projected to add as much to the debt in the future as the Bush tax cuts which Republicans passed in 2001 and 2003." You never mention how the average working person making between $40,000 and $60,000 a year saves about $600 to $800 a year in reduced taxes as a result of the cuts. Whereas someone making $1 million a year saves a whopping $130,000, more than twice the income of the working person.
Is it fair that capital gains should be taxed at a lower rate than wages? Why should how you make your money determine your tax rate? We should be encourageing work and productivity, not money manipulation and wild speculation. The country was built on the integrity of hard work and honesty. It was called the Protestant Ethic.
You also never mention how the Bush tax cuts in 2003 eliminated a corporate tax dating back to 1986. Not only did they eliminate the tax, they enacted legislation that went back and reimbursed corporations for all taxes paid from 1986 to 2002. GE got almost $900 million. Bankrupt Enron got $250 million, this after bilking $30 billion from the rate payers of California by creating rolling blackouts and raising the price of electricity 2,800 percent in one year.
What kind of grossly irresponsible public policy are you advocating for? Should we do what Grover Norquist advocates: "We should cut taxes and cut taxes until the government is so small you can drown it in a bathtub"? This is a call for anarchy. Even Republican economists like Bruce Bartlett are saying so.
The Bush tax cuts were heavily tilted to benefit the top brackets; they did not create the jobs that were promised, and they grossly expanded both the national debt and income inequality. Yeah, I'm for all that.