2001 – Congress, with the blessing of the New President enacted a Tax reduction of X% for ALL. Citing more money for Business Enterprises to enlarge and hire more employees etc. After all the backroom politics it was agreed that this tax reduction would expire after 10 years ((2011).At that time taxes would revert to the same taxes that were in effect in 2001. No tax increase – just a reversion to the actual tax base before the 10 year “gift”.

2008 – after eight years of two unfunded Wars and massive spending (borrowed money) this Nation was on the abyss of total dissolution. Banks, Auto MFG., and many institutions were folding at which time there was a massive “bailout” to try and salvage what could be salvaged. This was pushed through in a rare bi-partisan effort and approved by President Bush and it was a good decision.

The next two years the Nation was still in free fall mode and the new President enacted a payroll tax reduction to last X amount of time.

Both cuts were not permanent cuts but were in effect a certain length of time.

2010 – President Obama extended the tax cuts for an additional two years with the declaration that they would expire permanently at that time. and it has remained in the sausage grinder we call Congress .

2011 – the effect of the past 11 years of diminished revenue and excessive borrowing necessitated the need to increase the National Debt Ceiling. Partisan positioning and fighting brought about a downgrade of our Credit Rating resulting in a higher interest rate on our National debt loss of our triple A credit rating . After teetering on the brink of default a last hour decree was proffered by Congress outlining stringent requirements in reduction cuts to off set Debt limit increases. This was accepted with a provision that a super committee composed of six members from each party to examine this bill and made needed changes where needed. This committee failed to act and today we face enactment of this law.

Now – all we citizens decry ” They’re increasing my taxes” No they are not increasing your taxes. The Government gave you a 12 year reduction of X% per year (a bonus) and now you are reverting back to what your 2001 tax rate was when this all began. That 12 year windfall should have amounted to several thousand dollars over the 12 year span – what did you do with the extra money. Did you save it? did you invest it? Or did you blow it on whims and fancies? It was after all – free money.