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Old 09-22-2010, 01:50 AM
Don Zeko Don Zeko is offline
 
Join Date: Oct 2009
Location: Exiled to South Jersey
Posts: 2,436
Default Re: Potentially Non-Evil Human Beings (Katherine Mangu-Ward & Stephen Spruiell)

Quote:
Originally Posted by operative View Post
I think it's naive to believe that 7% of the tax cut means all that much.
It will effect 7% of taxpayers, but it's absolutely not 7% of the tax cut. The under-$250,000 tax cuts cost about $255 Billion annually, while the above-$250,000 cuts cost $55 Billion per year, or half a trillion over the 10-year window. That's about a quarter of the annual gross cost of the Affordable Care Act, which clocks in at $196 billion in 2019. That's not enough to eliminate the deficit, but it isn't exactly chump change either.

Quote:
Originally Posted by operative View Post
If Obama really was concerned about the deficit he wouldn't have run it up and now he'd be talking about doing away with the tax cuts on all Americans.
Obama is not responsible for the current deficit. Reduced tax revenue and increased automatic payments from the recession, combined with the Bush tax cuts, the wars in Iraq and Afghanistan, and Medicare Part D account for the vast majority of the budget shortfall, while the ACA reduces the deficit, TARP, which Obama didn't even pass, was repaid, and the Stimulus was a lump-sum that paled in comparison to the ongoing costs of Bush's budget-busting policies.

Last edited by Don Zeko; 09-22-2010 at 01:52 AM..
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