Monday, April 18, 2011

Easy Budget Fix - Kill Bush Era Tax Cuts

I don't much like simplistic solutions to complex problems.  In most cases they are just plain silly, but here is one that actually holds up.

All the problems with budget cuts in DC right now could be solved with a simple solution.  Let the Bush Era tax cuts for the rich expire!

The government loses $42 billion in revenue this fiscal year because of the tax cuts for the rich.  The budget cuts being squabbled over by Congress amount to $38 billion.  This is simple arithmetic people.  The tax breaks for the wealthy, those earning between $500,000 and $1 million amount to $25,000 and for those earning over $1 million its around $130,000. That is serious cash and it's time we stopped subsidizing millionaires.

Of course the GOP will scream that these are struggling small businesses and we will be killing the economic growth.  Bulls*#t!  The truth is these are contributors to the GOP and they want all the money they can get for their benefactors.

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