July 25, 2012

A very important vote took place yesterday in the Senate.  In a vote of 51-48, Senate Democrats voted to pass a plan that would allow tax cuts to continue for those earning household income less than $250,000.  The Republican proposal aimed at extending the tax rates for all. The Democratic tax plan is now headed to the House, where it is expected to die, due to Republicans outnumbering Democrats.

The debate over the tax cuts aligns perfectly with the differing views of President Obama and Governor Romney.

Democrats in favor of the proposal believe:

• Taxes should remain low for the low and middle class
• The top 2 % earners should pay their fair share to reduce the Nation’s deficit

Republicans in opposition believe:

• The plan hurts small businesses that hire workers
• No taxes should be raised while we are in this economic crisis

The vote in the House will take place next week, until then there has yet to be any collaborative headway made to address the ills of the economy.

What are your thoughts? What do you find to be best for the country?

Spill the Beans Below…