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The ten million people whose income taxes were entirely eliminated, the lowest bracket folks getting a one-third reduction in their tax rate (from 15% to 10%), the huge increase in the child credit, middle class brackets being reduced across the board--these Bush tax cuts for the lower 98% will cost $3 trillion in lost revenue over the next ten years if extended.
Now, when you say "Bush tax cuts," some people will think you mean the reduction in brackets for the top 2%. But the lost revenue from the top two brackets is only about one fifth of the total cost of the Bush tax cuts. We little folks got most of the dollars.
I almost wish that the Bush tax cuts would be allowed to expire, so every person in the country will learn the meaning of "the Bush tax cuts" when their federal income tax skyrockets.
The Left believes that all income belongs to the government, which is why they think tax cuts create deficits. Tax cuts don't create deficits, spending does.
The Left believes that all income belongs to the government, which is why they think tax cuts create deficits. Tax cuts don't create deficits, spending does.
The ten million people whose income taxes were entirely eliminated, the lowest bracket folks getting a one-third reduction in their tax rate (from 15% to 10%), the huge increase in the child credit, middle class brackets being reduced across the board--these Bush tax cuts for the lower 98% will cost $3 trillion in lost revenue over the next ten years if extended.
Now, when you say "Bush tax cuts," some people will think you mean the reduction in brackets for the top 2%. But the lost revenue from the top two brackets is only about one fifth of the total cost of the Bush tax cuts. We little folks got most of the dollars.
I almost wish that the Bush tax cuts would be allowed to expire, so every person in the country will learn the meaning of "the Bush tax cuts" when their federal income tax skyrockets.
^ That. Exactly.
Wish I could rep you again!
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Yes they did.
