Editor: Until the $2.5 trillion I.O.U. to the Social Security trust fund is repaid in full, no tax cuts should be made permanent – for anyone. Furthermore, since according to the Congressional Budget Office, extension of unemployment benefits has the highest positive impact on the economy – nearly $2 (1.8) of economic growth for every $1 of expenditure - of any governmental economic policy and far more than the national economic benefit of income tax reduction, unemployment benefits should be extended before any taxes are cut at all.
The Simpson-Bowles Deficit Commission is recommending raising Social Security retirement age, reducing Social Security and Medicare benefits, and massive defense spending cuts to save $4 trillion over 10 years – which is roughly the same amount that would be spent on 10 more years of Bush era tax cuts. Since these unfunded tax cuts would most benefit the wealthy, and unfunded extension of unemployment benefits would cost $12 billion, or less than 2% of that to extend the tax cuts above $250K for 10 years, this is pure and unadulterated class warfare.
On another note, Arizona Senator Jon Kyle's politicization and hold-up of the ratification of the START nuclear arms treaty with Russia, thereby threatening national security, verges on treason and is a clear violation of his oath to uphold and defend the Constitution, which provides for the common defense. Country first – then party, Senator Kyle.
Daniel Wells, Tracy