were so much larger? Like 2 TRILLION larger over 10 years!
Making permanent all tax cuts for the middle class will cost the Treasury $2.7 trillion over 10 years, according to the Joint Committee on Taxation. Extending the tax cuts for the very wealthiest Americans would drain an additional $678 billion.
Why do Liberals continue to spread lies about the Bush tax cuts?
It doesn’t matter how many times you prove a liberal wrong. They still persist with the same ridiculous arguments.
The Bush tax cuts did affect everyone. The cuts benefited the wealthiest Americans more than anyone else. That is the problem. If you are going to cut taxes to help people, then cut the taxes for those who need them cut. The wealthiest Americans are doing just fine. It’s the middle class and poorer Americans who need the help. The majority of small business owners are actually middle class. They need more tax cuts to grow their business. Walmart will be just fine without cutting more taxes.
2.7 trillion over 10 years for the middle class. that is 270 billion a year.
If they included the top 1%, a one year extension would cost an additional 680 billion dollars.
Bush tax cuts:
680 Billion in cuts for the top 1%
270 Billion in cuts for the rest of the 99%
It seems that the democrats were telling the truth, that the Bush tax cuts primarily benefited the richest Americans.
I in no way suggested he ":basically": did it… yet he did provide the prosperous huge tax cuts… why do cons simplify all the information they do in contrast to and gloss over them? oh, when you consider which you do in contrast to them? or do you human beings additionally be attentive to the information? Obama suggested many circumstances that he supported the Bush tax cuts for the midsection classification, maximum liberals agree… so… it somewhat is Obama doing what he promised and what maximum liberals accept as true with… and right here you attempt to spin it right into a lie or a undesirable factor? this has no longer something to do with the tax cuts for the prosperous
It’s real simple. 62% of the tax breaks went to the top 5% of income earners. Here’s the article I got that from. http://www.epi.org/publications/entry/we… It also says, ":Since these families have higher saving rates — spend a lower share of their income — the income tax cuts will be less effective at generating spending than tax relief aimed at low-income and middle-income families.": So the other 38% being split between the next 95% didn’t accomplish anything. But the top 5% were real happy!
Can we answer the biggest lie?
The FACT that after cutting taxes, revenue actually increased to the IRS. So when people say the the tax cuts ":cost": $X what does that mean? The bottom line is everyone better pay attention once we let those tax cuts expire – please don’t sit there wondering why we didn’t get all that extra money and there is a very good chance we will see revenues actually go down!
You are right, the tax cut was for all Americans. However the tax cut mostly benefited the wealthy, not just on a raw $ amount, but on a percentage basis as well.
Liberals do not say that. Liberals have said to extend the middle class tax cuts and expire those for people making over $250K.
when Bush cut my federal income taxes by $5 per week, my local republican party (who control my school board and township board of supervisors – not a single democrat on either one) had to raise my real estate taxes by what amounted to $20 per week to make up the difference.
much more of that kind of ":fiscal conservatism": and i’ll have to sell my house and declare bankruptcy.
let the thumbs down begin because i spoke the truth that doesn’t agree with conservative rhetoric.
They threw us a few scraps. But 90% of the tax cuts went to the top 10% of income earners.
It makes for a good campaign sound byte. Unfortunately it is very effective with the mouth-breather crowd.