The tax extension compromise of 2010 will add 900 billion dollars to the national debt with the goal of accelerating the economic recovery. To agree to the compromise the Republicans held firm to extending the tax cuts to income in excess of $250,000. This action by itself will add $120 billion* to the national debt … More $120 Billion is a lot of pork
I’ve long believed there was a fundamental misunderstanding of how our tax system works that has lead to groundless support for extending the Bush tax cuts to incomes over $250,000. I partially addressed the topic in a previous posting, The arithmetic of taxing the “rich”. What I did not address was how the message was being … More Bipartisan support for tax cuts for everyone.