Chickashanews.com

Opinion

December 28, 2010

Tax relief extended for all Americans

CHICKASHA — By TOM COLE

U.S. Congressman

Last week in a rare display of bipartisanship, Congress voted to extend the so-called Bush tax cuts for another two years. 

In so doing, they effectively stopped a massive tax increase that would have hit every single American taxpayer.  I supported this legislation but with some reservations. 

My personal preference would have been to extend the tax cuts permanently, and to eliminate the death tax completely.  And I have serious reservations about a payroll tax holiday that will undermine the solvency of Social Security. But the members of Congress were not presented with an opportunity to vote on that, so I voted for the best possible option.

While the legislation is certainly not ideal, allowing massive tax hikes to go into effect for every American during a recession is simply unacceptable.  Without this compromise, taxes were set to go up on January 1 – and stay up indefinitely.  The elevated rates would mean tax increases of $4.4 billion in Oklahoma – an average of roughly $2,800 per person. 

Although the new Republican majority in the House would begin working immediately to restore lower tax rates when the next Congress convenes, there is no guarantee the Democratically controlled Senate and White House would agree to a better deal and no way to know how long negotiations would last.  During the days or weeks it would take to negotiate, debate and vote on a solution, the tax hikes would remain in effect, resulting in smaller paychecks for workers and higher costs for employers.   

America's job creators strongly support the compromise.  The Chamber of Commerce called the agreement "one of the best steps Washington can take to eliminate the uncertainty that is preventing our employers from hiring, investing, and growing their businesses." 

Many respected conservative activists also applauded the agreement.  Newt Gingrich praised the legislation as "a great victory for the American people" while FreedomWorks declared "it's a no-brainer to not allow taxes to go up dramatically in January."

Text Only
Opinion
  • Fightin' Words: Lessons from sports, even in tragedy

    This week, Americans got to hear firsthand accounts, some for the first time, of a sporting tragedy, the lessons from which are as poignant as sport itself.

    April 18, 2014

  • Weir speaks on good traffic stops do for society

    On the law enforcement side the county was fairly quiet last month. There was an incident which may not have seemed of great importance to many, but I would take exception to that.

    April 15, 2014

  • The Hero of Haarlem…For the Common Good

    “Trudging stoutly along by the canal,” as the story goes, the eight year old son of a Dutch sluicer was returning home from delivering cakes to a blind man. Humming as he passed the dikes, he noticed that recent rains had made his father’s job even more important.

    April 11, 2014

  • Morning Ralph…Morning Sam…For the Common Good

    Deep in the vaults of Warner Bros. there is a series of Merrie Melodies cartoons featuring Sam the Sheepdog and Ralph E. Wolf.  It has been years since I have seen the animation; however, the tan sheepdog with the unruly mop of auburn hair and the thin brown wolf that bears an uncanny resemblance to Wile E. Coyote (except for Ralph’s red nose and Wile’s yellow eyes) are readily recalled.

    April 4, 2014

  • Fightin' Words: A right way and a wrong way to treat a college players union

    Initially the ruling by the National Labor Relations Board over Northwestern football players' ability to unionize was, at first, the start of a ticking time bomb on college sports.

    March 28, 2014

  • In New Orleans, Katrina victims live out Hollywood eco agenda

    I visited Lousiana recently to do some reporting on Sen. Mary Landrieu's bid to win a fourth term in a tough political year. But before heading to the key parishes that will determine Landrieu's fate this November, I stopped by New Orleans' Lower Ninth Ward to see how rebuilding efforts are faring nearly nine years after Hurricane Katrina.

    March 25, 2014

  • BLOG: America is doing all it can to Russia

    The conservative response to President Obama's handling of the Ukraine crisis is a perfect example of what some Americans need to learn about how the world around them works now.

    March 21, 2014

  • In jam over Obamacare, Dems don't know which way to turn

    When it comes to Obamacare, many Democrats take comfort in polls showing a small majority of voters, or at least a plurality, oppose repealing the Affordable Care Act. To them, that proves the Republicans' do-away-with-it position is out of sync with voters as this November's midterm elections approach.

    March 18, 2014

  • Il Buono, Il Brutto, Il Cattivo and the Common Good

    The term “Spaghetti Western” is used to describe a movie about the American West but directed and produced by Italians and normally filmed in Europe. This motion picture genre has been around for more than 70 years.  Outdoor scenes are often shot in an area of Spain that bears a striking resemblance to the Southwestern United States.

    March 14, 2014

  • Have Bazooka - will travel and the Common Good

    For seven seasons from 1957 through 1963, actor Richard Boone played a gentleman gunslinger named Paladin in the CBS television, Have Gun—Will Travel.  The storyline involved Boone’s character, a highly educated and cultured mercenary whose residence was the Hotel Carlton in wild-west era San Francisco.  Paladin’s business card intimated that he had no qualms about using his Colt .45 revolver or his single action Marlin rifle for hire, wherever his career would take him.

    March 7, 2014