Congress seems unlikely to renew these cuts before November, though. That would mean a massive, $3.2 trillion tax hike over the next decade. Virtually everyone who earns income would be hit. Even those in the lowest tax bracket would see their tax rates jump from 10 percent to 15 percent.
Few voters ever support policies to boost taxes. This year, in the midst of a recession, a massive tax increase would be both unpopular and counterproductive.
Some of our leaders plan to wait until after the elections to try to ram through unpopular legislation. “The lame-duck session is when all of this is going to get resolved,” Sen. Tom Harkin (D-Iowa) told The Hill newspaper.
But it would be better to allow people to vote on whether they’d like the government to boost their taxes to pay for its out-of-control spending.
The 2010 midterms will give Americans a chance to express their will. Our leaders should promise to enact conservative policies, and “we, the people” should hold them accountable.