I broke out my Casio DF-320TM calculator (around $8.00 at Wal-Mart) and did some math regarding the nasty Republicans trying to stop the extension of a current tax break Democrats in the Senate have offered next year.
Here is how it plays out:
If the income of a taxpayer is $50,000.00 a year and the BUSH TAX CUT is extended another year, that taxpayer keeps $1,000.00 dollars MORE next year than if the BUSH TAX CUT expires.
That is what the Republicans want and why the conservative new House members, for the most part, have held out for extending the BUSH TAX CUT for one more year, 12 months, if you will.
But the tax cutting Democrats want to pass the Senate bill which extends the BUSH TAX CUTS for TWO months, NOT a full year, which comes out to $166.68. That breaks dowen to .48 cents per day right in taxpayers pockets.
So this is the dilemma the Republicans are in and why the news media, pundits, and progressives are in high visibility mode bashing the hapless Republicans.
The suddenly tax cut friendly Democrats are willing to let taxpayers keep $166.68 more next year than those greedy Republicans who counter with a $1,000.00.
No wonder America is in shock.
When Congress meets next year the crazy Republicans should double down and go for a three year extension, $3,000.00, of the BUSH TAX CUT and settle this once and for all.
The tax cutting Democrats could counter with their own offer of SIX months, or $500.00, and really show how tax cutting they are.
I have had some trouble finding out the amounts of each side’s tax cut in news articles, as well as the tax cut being referred to as the dreaded BUSH TAX CUT, which according to Democrat folk lore, put us in the Barry Sowetoro Depression.
While the Republicans are home for Christmas I hope they can explain to constituents how $1,000.00 is more than $166.68.
That shouldn’t be too hard. And it is the right thing to do.
I know this becasue I heard Senator John McCain badmouthing House members about this issue, taking sides with the Democrats. Whenever you see John McCain siding with Democrats against Republicans you know the Republicans are doing the right thing.