Wednesday, July 13, 2011

How Much Do the Bush Tax Cuts Cost?

This much:
In the end, the most likely tax increase may be the one that’s already on the books. On Jan. 1, 2013, all the Bush tax cuts — on the affluent and nonaffluent alike — are set to expire, which would solve roughly one-quarter of our long-term deficit problem. If Republicans have their way, all the tax cuts will be extended. If the Democrats have their way, most of them will be. (empahsis mine)
25% of the deficit gone, just like that.  Not too bad of a deal, especially since we have seen pretty much zero job growth since the Bush tax cuts went into place.  I would guess that the Republican response would be that we would have lost even more jobs if it weren't for the Bush tax cuts.  Horse shit!  Obama shouldn't have extended the Bush tax cuts without getting the Republicans to raise the debt ceiling, but he thought they were responsible adults who could be trusted.  That is not the case, they are worthless, crooked jackasses.  They have no business being elected, but idiots keep putting them in place.  What have we gotten for that? Destruction of the middle class.  Giant deficits.  Gutting of manufacturing jobs.  Religious nuts trying to start Armageddon.  And a couple of wars. 

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