By MIKE JONES Associate Editor on Jan 6, 2009, at 3:07 PM Updated on 1/06 at 3:07 PM
JONEZIN
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I would like to have a little more money in my pocket as much as the next guy. That's why President-elect Barack Obama's tax cut for the middle class sounds so appealing.
But, in the infamous words of Ross Perot, here's the deal. The country is in deep debt, thanks to paying for two wars at the rate of more than $10 billion a month during this decade. Add to that an economy that is staring at another Great Depression.
The government already has bailed out Wall Street to the tune of about $700 billion and is handing over almost $15 billion to American automakers. A tax stimulus package could cost another $700 billion or so.
Now, I suppose I could use an extra $500 to $1,000 a year in my paycheck. But am I really going to notice it that much? That won't even buy that new big-screen TV that I want.
And, there is this: I have been doing without that extra money for quite some time now. And before the wars, the country was not in debt.
I prefer to continue to pay this tax, at least for awhile. When times get better, I'll gladly accept the extra money. In the meantime, I would rather pay a little more now to help create more jobs and pay off our creditors than pass any more debt on to my son and his children, when he has some.
I know, I'm passing up free money. I just like the idea of living within my means.
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