>
This specific action extends the Bush tax cuts to the top bracket for another two years, at a huge cost and at a huge increase in the deficit and debt. Obama's original proposal was to extend the tax cuts for all but the very top earners. The Republicans said no, showing once again who their true constituency is.>
>How is allowing people to keep more of what theye arn increasing the deficit? This makes absolutely no sense. And I don't know about you, but i can assure you that no welfare recipient ever paid me to write custom software for them.
With your rates I don't blame them ;-)
More seriously, there have been many non-partisan studies of what the tax cut extension will do to the deficit. Here is one of them. If you are already hissing at the source, I will provide you with others. The negative effect on the deficit is not in debate.
http://www.nytimes.com/2010/08/11/us/politics/11tax.htmlExtending them for the next 10 years would add about $3.8 trillion to a growing national debt that is already the largest since World War II. About $700 billion of that reflects the projected costs of tax cuts for those in the top 2 percent of income-earners.
