To the editor:
We need to hold U.S. Rep. Tom Latham and U.S. Rep. Steve King responsible for not coming up with solutions for the current Republican-made crisis. The talks should include the fact that these are past debts owed by the United States that include Iraq and Afghan wars and Medicare Part D that were not funded. What would happen to anyone of us who dared threaten the bank to which we owed money, that we were not going to pay them until we got our finances in order?
As the details of the Republican Cut, Cap, and Balance proposal become public, it is obvious that it is not about the deficit. Tax cuts of 1.5 trillion for the wealthiest through lowering their tax rate from 35 to 23 percent and abolishing the alternative minimum tax just aggravates the deficit. Any revenue that is raised by closing tax loopholes enjoyed by top income earners and corporations are given back in tax breaks. These are components of a power and wealth grab not a solution to the U.S. budget. Tax breaks are a budget expenditure, referred to as "tax expenditures" in Economics. They increase the deficit.
The bipartisan Gang of 6 plan cuts Medicare, Medicaid, education, children's programs, Head Start, environmental protections, etc. along with increases in revenue. This is a more balanced approach that recognizes the results of the 2010 elections.
Julie Stewart Ziesman