Skip to main content

Behind the nation's debt quagmire

Published June 25. 2011 09:01AM

Dear Editor:

Even though it seems clarity is still a problem for some people, let's look to President...errrr I mean former Vice-President Richard Cheney, for some lucidity as to how our federal government finds itself in an enormous debt quagmire today.

"Reagan proved defecits don't matter," said the former VP. He continued, "we won the midterms...this our due (1.3 trillion dollars in tax cuts for the top 1 percent of Americans - who consequently only pay on average 16 percent to taxes on their income because most of their income comes from capital gains.)"Some estimates have gone as high as $2.5 trillion as the Treasury cost.

Needless to say Bush also pushed for the reduction in the capital gains tax (fromten to eight percent) on holdings over five years.

Still wondering what goes on?

Michael J. Polyak

Tamaqua, PA

Classified Ads

Event Calendar

<<

October 2017

>>
SunMonTueWedThuFriSat
    

Upcoming Events

Twitter Feed

Nearby

STEP-Up Tamaqua to meet Monday

40.798347, -75.970851

STEP-Up Tamaqua will...

Man faces charges for shooting his dog

40.8014826, -75.6101867

Charges have been fi...

Extension hosts annual dinner

40.7986942, -75.8104747

The Carbon County Ex...

Reader Photo Galleries