Mr. President, I have several very important questions.
My first inquiry pertains to the fact that you want to extend the George W. Bush-era tax cuts for families earning less than $250,000. Apparently, the dividing line to be considered wealthy is a cool quarter of a million.
However, is that $250,000 net or $250,000 gross? Just thought I’d ask.
In addition, you keep referring to the middle-class, you know, the “folks…digging themselves out of the hole that was created by this great recession.”
I noticed you called it “this great recession.”
On the contrary, I thought you had led us out of the recession with all your economic hope and change.
Maybe “this” doesn’t mean current, maybe it means something else, kind of like what “is” “is.”
What troubles me is that an income of $250,000 and above is considered wealthy. Yet, over one-half of Americans don’t pay taxes which must mean they are the low-class or no-class, obviously not the middle-class.
So, exactly where is the dividing line, top and bottom, for this so-called middle-class?
Next, I’d like to know when it stops being recognized as the George W. Bush-era tax cuts and just becomes identified as the “current tax brackets.”
I believe every modern President, from Kennedy to Nixon and from Clinton to Bush, have tried to set tax policy.
In fact, more than likely, every President since George Washington has also tried to do the same.
I suppose it would be politically difficult to call it the Kennedy-era tax cuts or the Reagan-era tax cuts.
In addition, it would not be politically smart to just simply announce that you want to raise taxes on the most productive people of our workforce, small business (gross-net). On the other hand, since in your mind it’s still Bush’s war, Bush’s credit collapse, and Bush’s unemployment problem, I guess it’s easy enough to keep calling it the Bush-era tax cuts.
Finally, Mr. President, who is the linguistic coach that inspired you to use the word “folks?”
As a Harvard educated and well-schooled public speaker, the down home approach may play well for the Beltway, but for the majority it gets a little aggravating after a while. But, maybe, just maybe, that’s the whole idea.
Give tax breaks to a class of people that doesn’t exist, blame a President who’s no longer in office, and talk as though you’re a resident of Green Acres.
That’s an interesting strategy.
Mitt Romney, please take note.
Along with his 40-years of dedication in the financial services industry, Bill is the President and CEO of GPSforLife, has recently authored a highly successful book entitled 44th: A Presidential Conspiracy, publishes his dynamic monthly financial newsletter MacroProfit, and faithfully continues his third decade on the radio with It’s All About Money, which can be heard weekdays on Money Radio in Phoenix and in podcast form on his website (and on smartphone apps) published at billtatro.com weekdays at 5pm Eastern. Bill can be reached via email at firstname.lastname@example.org and on Twitter @tatroshow.