Tuesday, December 14, 2010

Tax Cuts Clearly Explained

Tax Cuts Clearly Explained

This is a wonderful article on just how screwed up the tax compromise truly is. Instead of allowing only the ~$545 billion in lost federal revenue from keeping the tax cuts (dubious at best, since raising taxes actually reduces federal revenue but we will go with it in this case), the Democrats piled on an additional ~$315 billion in spending in the name of helping. This is business as usual and not what I voted for in November. Keep the tax cuts, dump the extra spending, or let the Democrats hang themselves by allowing all tax cuts to expire. This is a manufactured crisis that allows Congress to continue to spend our grand children's future. You want to impress me then add a bunch of government spending cuts to this bill to pay for all this and make it a zero impact bill both for the supposed lost revenue and the additional spending, so the Congress critters need to offset this by cutting ~$860 billion in federal spending. If they can do that then I would fully support this package of mumbo jumbo, otherwise this is just business as usual.

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