We continue highlighting the policy differences between Alexi and Congressman Mark Kirk by presenting their answers to questions asked by the Chicago Tribune’s editorial board. Today’s topic: the Bush tax cuts.

The question posed to both candidates by the Chicago Tribune:

The 2003 tax cuts reduced the top marginal income rate tax rate to 35 percent and the maximum rate on capital gains to 15 percent. The Obama administration would let those cuts expire at the end of the year for individuals making more than $200,000 and couples making more than $250,000. Should these rates rise, fall or stay the same?

Mark Kirk’s response:

Illinois families are not under taxed. I support tax relief for all Americans. In the teeth of the Great Recession, the last thing we should do is raise taxes. I believe current tax relief should not be allowed to expire. We should pay for this with spending reductions, earmark halts, line item vetoes and structural spending reforms.

Alexi’s response:

Tax cuts should go to those who most need them and are most likely to put the extra income to use.The Bush tax cuts shifted the tax burden from the wealthiest Americans to everyone else. They were unnecessary and irresponsible, and I would allow the cuts for households making over $250,000 to expire. This has very practical implications. As a stimulus measure, the wealthiest tend to save any new income, whereas low- and middle-class Americans immediately use that money to put food on their table, pay their mortgage, and send their kids to school. For overall economic growth, the tax rates under President Clinton ushered in an unprecedented era of economic growth and fiscal responsibility. Instead of maintaining those reasonable tax levels and using the revenue to continue paying down our debt, the Bush-Kirk economic philosophy resulted in trillions of dollars of new debt to provide relief to America’s wealthiest citizens. We simply cannot afford to add another $750 billion to the nation’s credit card.

If the Bush tax cuts for the wealthiest 2% of Americans were fiscally responsible, they would have been made permanent when they were originally voted into law -- not given an expiration date. Using the same logic they did in 2003, Republicans like Mark Kirk now argue that giving millionaires and billionaires tax breaks will create jobs. Yet, independent analysts agree that the wealthy who receive tax cuts don't create jobs. The theory that giving the wealthiest Americans tax cuts as a means of job creation has been categorically disproved. Yet, Republicans are holding tax cuts for the middle class hostage unless the Bush tax cuts for the rich are extended permanently.

Let’s face the facts: in this current economic climate and the record deficit caused by the reckless economic policies Mark Kirk voted for, the U.S. cannot afford to spent another $700 billion dollars it doesn't have on a policy that doesn't work. As Alexi posed to Congressman Kirk during their debate on “Meet the Press” (and afterwards on Twitter):

This is why this race is so important. This is a fundamental public policy difference between myself and Congressman Kirk. He says he's a, a fiscal hawk. Look, the congressman has told some real whoppers during this campaign, but that may be the biggest one of all. He voted for every single one of the Bush budgets, which doubled our national debt. He voted to increase his own pay six times. He voted for the bridge to nowhere twice. He voted to raise the debt ceiling four times. The list goes on and on. So, Congressman, saying you're a fiscal hawk doesn't necessarily make it true, and your voting record proves that it's not true. The question is, for the Congressman, the $700 billion in tax cuts for the wealthiest Americans, we don't have $700 billion. So my question to the congressman is, which country do you plan on borrowing $700 billion from? The Saudis? China? We, we can't afford it. And that's one of the problems, quite frankly, with Washington, D.C., this overborrowing, overspending.

Instead of the pockets of the rich, there is so much that that $700 billion could go towards. Here are just some elements from Alexi's plans:

• A job creation tax credit for small businesses if they can create a job within 90 days because it is small businesses – not large corporations – that create good paying jobs.
• A payroll tax holiday that would put extra money in the pockets of everyday workers because it is middle class – not the upper class – that puts their extra cash right back into the economy.
• Increasing Pell Grants so more kids can go to school – a direct investment in our country’s future.
• Paying down the debt that Mark Kirk, the “fiscal hawk,” helped create by supporting 8 years of reckless budgets and reducing the debt burden of future generations.

Clean energy investment, foreclosure prevention – the possibilities are endless. With that in mind, we created 700BillionReasons.com, an interactive tool that lets you create your own budget and decide what that $700 billion should go towards. You can share it with your friends on Facebook and Twitter or contact your Senators and Representatives to lobby them to allow the Bush tax cuts for the rich expire and to help the middle class instead.

Visit 700BillionReasons.com today and tell us what you would spend $700 billion on.