In the twisting logic of the President, his Sycophants, Liberals and the Media, 2 + 2 = 5.
At the end of 2010, the 2001 / 2003 Bush Tax Cuts will expire. Why? To get the tax cuts (which Increased Federal Revenue) through Congress in 2001 / 2003, a sunset was added. The Republicans did not have a super-majority in the Senate and had to negotiate the sunset to pass the tax cut. Again, the Federal revenues INCREASED after the tax cut.
Well, now the fight is under way to keep the tax cuts in place. Republicans are fighting to keep ALL the tax cuts in place, and some Democrats agree. Many, if not most, economists and Americans think raising taxes in a recession will be economically destructive on an already fragile economy.
Democrats want to play class-warfare by raising taxes on the rich. They’ve come up with a magical $700Billion figure (over 10 years) that keeping the Bush Tax Cuts in place will cost the Government… …’and the rich are not paying their fair share’. Just FYI, the top 2% of American Taxpayers already pay 43.6% of all Income Taxes to the Federal Government. What percentage do the Democrats think they need to pay?
- 2% paying 43.6% of Tax Bill
- 98% paying 56.4% of Tax Bill
And now… …in the twisting logic of the President, his Sycophants, Liberals and the Media (The PSaLM) … …the wonderful Democrats are GIVING us a Middle Class Tax Cut. “Hello?!? McFly?!!?” Somehow preventing a tax increase, in the minds of the PSaLM, is akin to giving a tax break. Only in the mental disorder of the liberalism would keeping the tax rates at current levels be called a tax break.
Yell it loudly with me at the PSaLM! YOU ARE NOT GIVING US A TAX BREAK!!
It’s a SPENDING problem; not a TAXING problem.