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Friday, September 10, 2010

We Can't Afford Tax Cuts for the Rich?

That's what the president says when asked why he won't extend tax cuts for the top two percent. Those tax cuts, according to his numbers, would cost the Treasury $700 billion over the next ten years.

So, the same person that spent $787 billion on a stimulus and a trillion over the next ten years on health care reform says we can't afford those tax cuts. Go figure.

5 comments:

AG said...

Its kindof like the difference between being able to afford food and rent and affording a 3rd Ferrari.

Or in this case, affording the priorities Americans voted for when they elected Obama vs. affording the priorities Americans voted against when they keep telling pollsters they still blame Bush for the economy.

mike volpe said...

It's not like that at all. Tax cuts are just as stimulative, frankly more so, than government spending.

Giving people health insurance they can't afford is not the equivalent of someone paying for food. That's a silly argument.

The bottom line is that time and again Obama shows that he's income redistributive policies and all this is another example.

AG said...

That could be a compelling argument if it weren't for the fact that Congress and the Fed just plowed over 3 trillion dollars into the hands of investors and it stimulated less than nothing. I just cannot in good conscience believe that renewing Bush's cuts in full would do anything other than intensify our structural unemployment.

mike volpe said...

I don't speak gibberish.

I do know that this has been a Keynesian dream and it has failed.

To say that anything but Keynesian policies have been tried and failed is to misrepresent what has happened.

Anonymous said...

Scared of paying more tax eh Mike?