The beginning and the cause of the “fiscal cliff” was when President Bill Clinton signed the Fair Trade Act. Manufacturers started moving their operations overseas to China and other countries. Millions of jobs that paid a good living wage were lost here. Billions in tax dollars were lost to the U.S. Treasury. Those companies were even given tax breaks to move operations to other countries.
Now, Americans can find very few products made in America.
Also contributing to the fiscal cliff was the fraud in the housing market, Wall Street and the banking industry. That cost taxpayers billions, yet only a few ever went to jail.
Millions of Americans are suffering because of corporate greed. And thousands of corporate executives have moved their assets to banks outside the U.S. to avoid taxes. How can that happen?
The corporate world has a hold over Congress. These executives don’t want to pay more in taxes. Many senators and representatives are millionaires. They don’t want to pay higher taxes. They expect the poor, those in the middle class, those on Social Security and Medicare to pay off the nation’s debt while they enjoy their wealth. Meanwhile, America suffers.
Is that what the nation’s sons and daughters in the military have died for?
Republicans in Congress should be ashamed. So far, they have shown they have no conscience or the integrity to do what is right for the American people. They won’t admit they caused the recession. They blame the Democrats.
Jean Arsenault, Mexico