Tuesday, September 14, 2010

We Knew This Already...

...but just to reiterate what the White House and the Congressional Budget Office has been saying for the last two years...

Give the wealthiest Americans a tax cut and history suggests they will save the money rather than spend it.
Tax cuts in 2001 and 2003 under President George W. Bush were followed by increases in the saving rate among the rich, according to data from Moody’s Analytics Inc. When taxes were raised under Bill Clinton, the saving rate fell.
President Obama wants to make permanent the Bush tax cuts for those making under $250,000 and let them expire (as they were meant to do) for the top 2% of earners.

I'd like to start seeing a little pushback on the Republicans and Blue Dog/Fiscal Conservative Dems on increasing the deficit by $70 billion per year if tax cuts for the rich are extended or made permanent. The job creation meme is bullshit as we all know, otherwise, please show me the jobs they've created these last 10 years.

1 comment:

Virtual Kevin said...

When are we going to stop pussy footing around this "bipartisanship". Just like almost 2 years ago it is time to do as much good as we can do before the religious fear mongering kicks in and we lose our majority! Filibuster aside, screw what the Repubs want just make it happen!! It's not like they are ever going to thank us or give any credit, even when it works! SO screw em!!