Nobody discusses how much “ending Bush tax cuts for the rich” will raise.
It’s not much, nowhere near what’s implied.
It’s not about revenue, it’s about social engineering.
If the Bush tax cuts for the rich sunset the lowest tax bracket will jump 50%. Their rate will go from 10% to 15%. And the administration will blame this on the Repubs. And they will get away with it.
I can't find the reference on their web site, but this morning on Fox&Friends there was some discussion. As I recall, the net was that the amount raised annually would be enough to fund the government for about 3 days.
But it will take the seed money out of the economy. Growth? Hardly. These social engineers want the American economy to die, thinking that if the American economy lies fallow for a while, it will stimulate the rest of the world. I learned better economic theory in the 8th grade.
I think Bill O’Reilly talked about this last night. This tax increase will just cover a week or two of federal spending.
This tax hike would generate 85 billion dollars which would cover federal spending for 8 days..
Not sure if I totally agree. Libs/Progressives/Dems are all about ENVY, POWER and CONTROL. The more of your money that they confiscate, the less power and influence you have, and the more they have. They simply HATE you having money (= power in their mindset). They have chosen their lifestyle and they will do everything in their power to make sure that you do the same (but without any power of your own of course).
Nobody discusses how much “ending Bush tax cuts for the rich” will raise. As I was getting ready for work this AM, on FOX news they said something about the amount it would raise would cover government spending for about 6 days. I believe that is the number but you can check on Fox & Friends for exact figures. Actually, ridiculous - and a certain number of people buy all the cr@p the Obamaites come up with. Pitiful idiots.
As far as the actual value in revenue of allowing the Bush tax cuts to expire, a favorite saying of my late mother would seem to apply, “It won’t be enough to last til the water gits hot.” That ain’t a lot longer than a New York minute.
I think I heard the figure the tax on the “wealthy” will raise enough for 11 days of spending.