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View Diary: A Message For House Republicans: "First Undo What You Did To Create This Debt Crisis..." (41 comments)

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  •  well, but... (3+ / 0-)
    Recommended by:
    madame damnable, jgumby, offgrid

    I like this article but its misleading.  The bulk of the Bush tax cuts did not go to the upper 2% but something like one quarter did.  Sadly Obama is only talking about the top earners.  Bu the other 3/4 of the Bush tax cuts are even more important long term.

    While I appreciate Obama's stand and would like to see it rolled back immediately on those over 250K, I think its a huge mistake to permanently enshrine the Bush tax cuts for the rest of america.

    Because ultimately, once we are a little further out of the recession, its real important to roll back ALL OF THEM.  

    Otherwise we stay in a permanent morass.  Its mathematically impossible to sustain what will remain of the Bush tax cuts.

    And It bothers me that this is rarely discussed.

    •  Good point (0+ / 0-)

      It's easy to say "tax the 1%" right now, but all taxes need to be raised once we get out of the recession.

      We had much higher tax rates for everyone in past prosperous time periods (during Clinton and the "Golden Years"), and we need to get back to that.

    •  Different framing is required (0+ / 0-)

      We should let all of "the Bush tax cuts" expire by going over the fiscal bump.

      Then introduce a "stimulus package" consisting of a temporary reduction of the tax rates for people earning less than $250k. Make it sunset in three years, where it can be extended if the economy hasn't fully recovered.

      Yes, it's a "tax cut", and yes Dems will have to use that term when confronting Republicans (how can they vote against a tax cut?), but the People need to know that this is only a temporary rate cut designed to stimulate the economy. After the economy is restored, we will have to pay back the debt with higher taxes from everybody. Tell people that we are only returning to the Clinton rates, which most people remember as a generally good economy.

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