Home > Democratic, Republican, Taxes > Title I of American Taxpayer Relief Act of 2012 give the Dems what they want: More Bush!

Title I of American Taxpayer Relief Act of 2012 give the Dems what they want: More Bush!

January 3, 2013
Bush-ObamaImage Source Unknown

Bush-Obama
Image Source Unknown

I’ve been researching various portions of the American Taxpayer Relief Act of 2012 for the office. I’ve posted some links and notes about Title I: General Extensions on the TN Tax Accounting Blog. Overall Title I has exactly what most American taxpayers thought the “fiscal cliff’ negotiations were all about: continuing tax relief for everyone.

As I research Title I it is easy to see the irony of the permanent extension of The Economic Growth and Tax Relief Reconciliation Act of 2001 and The Jobs and Growth Tax Relief Reconciliation Act of 2003. These are the “Bush Tax Cuts” that Democrats fought so hard against during the early Bush years. Now a decade later the Democrat politicians have touted these tax cuts must be made permanent so tax increases won’t hurt the middle class!

The permanent extension of these tax cuts is important for two reasons:

  1. It further solidifies what independent voters have said for a long time: There is not basic difference between Democrat and Republican politicians. This is especially true for Obama and Bush, they are basically the same person policy-wise.
  2. It solidifies what Democrat politicians crave: More Bush! The Democrats love to hate Bush. Now they have a found a way to celebrate and immortalize (in tax code) their most hated favorite President!

Now going back to Title I of the American Taxpayer Relief Act of 2012. Overall I am fan of reducing taxes for everyone. However I think it would have been better to actually simplify the tax code. Instead these permanent extensions help to ensure the tax code will continue remain too complex.

Title I also includes code changes saying individuals making over $450,000 are ‘high-income earners’. By using the tax code in this way Washington continues to create arbitrary class warfare. Class warfare is nothing but an imagined talking point of opportunistic politicians. As long as this class warfare farce continues it will be hard, if not impossible, for us as a country to actually solve our social problems.

Oh well, back to my research.

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  1. January 9, 2013 at 10:43 pm
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