Who’s perpetuating “class warfare”?
Paul Krugman again nails the “starve the beast” agenda of the Regressive Cheap Labor Conservatives.
On the soon to expire tax cuts for the wealthy, he notes:
Why the cutoff date? In part, it was used to disguise the fiscal irresponsibility of the tax cuts: lopping off that last year reduced the headline cost of the cuts, because such costs are normally calculated over a 10-year period. It also allowed the Bush administration to pass the tax cuts using reconciliation — yes, the same procedure that Republicans denounced when it was used to enact health reform — while sidestepping rules designed to prevent the use of that procedure to increase long-run budget deficits.
Remember, the Obama proposal (which is expensive in and of itself) will continue the tax cuts for people making $200,000 and less.
When you hear alarmist rhetoric from Regressives, read Krugman, or go to the Tax Policy Center and check out the facts.
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