U.S. House ends Bush tax cut
Dear Editor:

During the eight years of the G.W. Bush administration, two foreign wars were waged, with no taxes levied to pay for them.  On the contrary, a tax cut was passed, mostly benefiting America’s wealthy, and the hundreds of billions needed for the wars were borrowed from foreign sources, the deficit passed on to those that followed.

The economic crash of 2008 resulted from the deregulation of the banking, finance, and mortgage industries.  It swept away some $13 trillion in personal investments, retirement accounts, and hope chests of American families who had trusted the stock market.  In the resultant recession, millions have lost jobs, and wages have stagnated or declined for most working families.

At last, the U.S. House of Representatives has exercised fiscal responsibility by voting to terminate the Bush tax cuts for millionaires.  The vote was along party lines:  most Republicans voting to extend the tax cut, and most Democrats voting to terminate it.

Four of five Oklahoma House members voted to extend the tax cut (Rep. Mary Fallin abstained).  Now the measure moves to the U.S. Senate.  Hopefully, our Senators will follow the House’s lead, and terminate the Bush tax cuts so that the Bush deficits can be paid off.  We shall see.

Nathaniel Batchelder



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