SOTU: Making Bush’s Tax Cuts Permanent Would Be Costly
SOTU: Making Bush’s Tax Cuts Permanent Would Be Costly
Bush said: “Because America needs more than a temporary expansion, we need more than temporary tax relief. I urge the Congress to act responsibly, and make the tax cuts permanent.”
FACT — TAX CUTS WILL COST $3.4 TRILLION OVER TEN YEARS: The cost of making the tax cuts permanent will be $3.4 trillion through fiscal year 2015. This includes the cost of extending the Alternative Minimum Tax relief associated with these tax cuts. [Congressional Budget Office, 1/26/06]
FACT — PERMANENT TAX CUTS OVERWHELMINGLY FAVOR THE WEALTHIEST: If Bush’s tax cuts are made permanent, the top one percent of households will gain an average of $71,420 a year when the tax cuts are fully in effect. By contrast, people in the middle of the income spectrum would secure average tax cuts of just $870. [Urban Institute-Brookings Institution Tax Policy Center, 12/20/05]
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Yeah, but he clearly doesn’t care.
January 31st, 2006 at 9:40 pmDo you think Bush might be a sociopath?
Just wondering.
where is the tax break for the real middle class, those of us who make less than 150,000
January 31st, 2006 at 9:41 pmDoesn’t Bush consider middle class to be
January 31st, 2006 at 9:43 pm1-5 million?
Let bush contain his taxing and tax cuts and comments to the US and leave the rest of America out of the equation. Next thing you know he’ll be claiming to be the leader of the world……..
January 31st, 2006 at 11:23 pmBush represents the wealthy only! He calls them the “Haves and Have Mores” and considers them his base of support! Even average middle class Republicans mean nothing to him!
January 31st, 2006 at 11:33 pm[...] Where Mr. Bush laughingly trifled with the idea of bipartisanship and his irresponsible call to make massive tax cuts for the wealthy permanent, Mr. Kaine promoted Virginia’s Better Way: long-term architecture of fiscal responsibility created by a bipartisan effort in the state legislature. [...]
February 1st, 2006 at 1:35 pm[...] TAX CUTS FOR THE RICH DO NOT SPUR THE ECONOMY! jeebus! [...]
February 1st, 2006 at 3:10 pmWow, we have some real Leninists here. Nice work, comrades!
February 23rd, 2007 at 1:48 pm