Joan Walsh at Salon.com has an on point piece about the regressive’s dissembling about extending tax cuts for the rich.
Spray-bronzed wonder (and House Minority Leader) John Boehner is stating — without an ounce of evidence — that allowing the cuts to expire will deepen the deficit.
Actually, the exact opposite is true:
This is the magical thinking that is the legacy of the Reagan years and the application (or mis-application, depending on your point of view) of Arthur Laffer’s famous curve.
In truth, eight years of higher taxation for the rich created an enormous surplus and added 22 million jobs to boot.
During George W. Bush’s reign? 3 million.
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